Exhibit 12.1
Years Ended December 31, | |||||||||||||||
2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||
Earnings: | |||||||||||||||
Income before assessments and cumulative effect of change in accounting principle | $ | 345,591 | $ | 606,819 | $ | 564,798 | $ | 473,406 | $ | 400,389 | |||||
Fixed charges | 5,787,159 | 7,712,290 | 6,515,669 | 4,373,095 | 2,205,502 | ||||||||||
Earnings available for fixed charges | $ | 6,132,750 | $ | 8,319,109 | $ | 7,080,467 | $ | 4,846,501 | $ | 2,605,891 | |||||
Fixed charges: | |||||||||||||||
Interest on consolidated obligations | $ | 5,673,829 | $ | 7,419,087 | $ | 6,263,775 | $ | 4,181,838 | $ | 2,127,790 | |||||
Interest on deposits | 109,726 | 266,562 | 218,831 | 152,872 | 59,813 | ||||||||||
Interest on borrowings from other FHLBanks | 136 | 48 | 68 | 33 | 9 | ||||||||||
Interest on securities sold under agreement to repurchase | 1,607 | 14,550 | 23,200 | 28,776 | 16,593 | ||||||||||
Mandatorily redeemable capital stock | 1,504 | 11,307 | 9,234 | 9,405 | 1,239 | ||||||||||
Interest on other borrowings | 357 | 736 | 561 | 171 | 58 | ||||||||||
Fixed charges | $ | 5,787,159 | $ | 7,712,290 | $ | 6,515,669 | $ | 4,373,095 | $ | 2,205,502 | |||||
Ratio of earnings to fixed charges | 1.06 | 1.08 | 1.09 | 1.11 | 1.18 | ||||||||||