Exhibit 99.1

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

SAN FRANCISCO, February 19, 2015 — The Federal Home Loan Bank of San Francisco today announced its 2014 operating results. Net income for 2014 was $205 million, compared with $308 million for 2013. Net income for the fourth quarter of 2014 was $45 million, compared with net income of $74 million for the fourth quarter of 2013.

The decreases in net income for 2014 and the fourth quarter of 2014 relative to the prior-year periods reflected a decrease in other income, partially offset by an increase in net interest income.

Net interest income for 2014 was $539 million, up from $482 million for 2013. Net interest income for the fourth quarter of 2014 was $133 million, up from $127 million for the fourth quarter of 2013. The increases were primarily due to improved spreads on interest-earning assets, including the accretion of yield adjustments on certain other-than-temporarily impaired private-label residential mortgage-backed securities (PLRMBS) resulting from improvement in expected cash flows, partially offset by a decrease in earnings on invested capital because of lower average capital balances and the lower interest rate environment.

Other income/(loss) for 2014 was a loss of $154 million, compared with income of $5 million for 2013. The change reflected net fair value losses associated with derivatives, hedged items, and financial instruments carried at fair value of $94 million (compared with net fair value losses of $29 million for 2013), which were due to the effects of changes in market interest rates, interest rate spreads, interest rate volatility, and other market factors during the period. The change also reflected expense on derivative instruments used in economic hedges of $64 million (compared with income of $34 million for 2013). Income/expense on derivative instruments used in economic hedges is generally offset by interest expense/income on the economically hedged assets and liabilities.

Other income/(loss) for the fourth quarter of 2014 was a loss of $40 million, compared with loss of $5 million for the fourth quarter of 2013. The change primarily reflected net fair value losses associated with derivatives, hedged items, and financial instruments carried at fair value of $30 million (compared with net fair value gains of $4 million for the fourth quarter of 2013), which were due to the effects of changes in market interest rates, interest rate spreads, interest rate volatility, and other market factors during the period.

During 2014, total assets decreased $10.0 billion, to $75.8 billion at December 31, 2014, from $85.8 billion at December 31, 2013. Advances decreased $5.4 billion, or 12%, to $39.0 billion at December 31, 2014, from $44.4 billion at December 31, 2013. In total, 83 members increased their use of advances during 2014, while 68 institutions reduced their advances borrowings. In addition, investments decreased $3.3 billion, or 9%, to $32.0 billion at December 31, 2014, from $35.3 billion at December 31, 2013, primarily as a result of principal repayments on the Bank's mortgage-backed securities portfolio.




The following information was filed by Federal Home Loan Bank Of San Francisco on Friday, February 20, 2015 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.

View differences made from one year to another to evaluate Federal Home Loan Bank Of San Francisco's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Federal Home Loan Bank Of San Francisco.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account