Exhibit 99.1

Federal Home Loan Bank of San Francisco Announces Annual and Quarterly Operating Results

San Francisco, February 21, 2013 — The Federal Home Loan Bank of San Francisco today announced its
2012 operating results. Net income for 2012 was $491 million, compared with net income of $216 million for 2011. Net income for the fourth quarter of 2012 was $94 million, compared with net income of $111 million for the fourth quarter of 2011.

Compared to the year-earlier periods, in 2012 and the fourth quarter of 2012, the Bank experienced lower credit-related other-than-temporary impairment (OTTI) charges on certain of the Bank's private-label residential mortgage-backed securities (PLRMBS); lower net losses associated with derivatives, hedged items, and financial instruments carried at fair value; and lower net interest income.
  
Net interest income for 2012 was $0.8 billion, down from $1.0 billion for 2011. Net interest income for the fourth quarter of 2012 was $171 million, down from $245 million for the fourth quarter of 2011. The decreases in net interest income for 2012 and for the fourth quarter of 2012 were due, in part, to lower average balances of advances, mortgage-backed securities, and mortgage loans; to a decline in earnings on invested capital because of lower capital balances and the lower interest rate environment; and to an increase in dividends on mandatorily redeemable capital stock, which are classified as interest expense.

Other income/(loss) for 2012 was a loss of $164 million, compared to a loss of $645 million for 2011. The loss for 2012 reflected a credit-related OTTI charge of $44 million on certain PLRMBS; a net loss associated with derivatives, hedged items, and financial instruments carried at fair value of $117 million; and net interest expense on derivative instruments used in economic hedges of $10 million, which was generally offset by net interest income on the economically hedged assets and liabilities.

Other income/(loss) for the fourth quarter of 2012 was a loss of $28 million, compared to a loss of $87 million for the fourth quarter of 2011. The loss for the fourth quarter of 2012 reflected a credit-related OTTI charge of $10 million; a net loss associated with derivatives, hedged items, and financial instruments carried at fair value of $30 million; and net interest income on derivative instruments used in economic hedges of $10 million, which was generally offset by net interest expense on the economically hedged assets and liabilities.

The $44 million credit-related OTTI charge for 2012 reflected the impact of modest additional projected losses on loan collateral underlying certain of the Bank's PLRMBS, based on the Bank's OTTI analyses for each quarter in 2012. The credit-related OTTI charge for 2011 was $413 million. The decrease in the credit-related OTTI charge was primarily due to further stabilization of the housing and mortgage markets in 2012 compared to 2011 and to improved expectations for these markets.

The $117 million net loss associated with derivatives, hedged items, and financial instruments carried at fair value for 2012 decreased from a $205 million net loss for 2011 primarily as a result of the cumulative effects of changes in market interest rates, interest rate spreads, interest rate volatility, and other market factors during the period. As of December 31, 2012, the Bank's restricted retained earnings included a



The following information was filed by Federal Home Loan Bank Of San Francisco on Friday, February 22, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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