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Federal Home Loan Bank Of Cincinnati (1326771) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

Federal Home Loan Bank Of Cincinnati

CIK: 1326771
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Contact:
News Release
John Byczkowski, FHLB Cincinnati
FOR IMMEDIATE RELEASE
513.852.7085 (office) or 513.382.7615 (cell)
April 28, 2020
    
FHLB CINCINNATI ANNOUNCES FIRST QUARTER 2020 RESULTS

Cincinnati, Ohio – The Federal Home Loan Bank of Cincinnati (the FHLB) today released unaudited financial results for the first quarter ended March 31, 2020.
Recent Developments
The global outbreak of the coronavirus pandemic (COVID-19) has resulted in extraordinary market stress and caused financial hardship for many, including communities in the Fifth District. During this unprecedented time, the FHLB has continued to fulfill its mission of providing robust access to competitively priced wholesale funding to its members, while maintaining strong capital and liquidity positions. The FHLB also is expanding its commitment to affordable housing and community investment by temporarily modifying its existing discounted Advance programs and creating a new voluntary program that offers up to $2 billion in six-month Advances at zero percent interest to members. While maintaining full business operations, the FHLB has protected the health and safety of its employees by implementing a work from home environment.
Operating Results
For the first quarter, net income was $80 million and return on average equity (ROE) was 6.94 percent. This compares to net income of $73 million and ROE of 5.59 percent for the same period of 2019.
Net income increased as a result of higher non-interest income primarily due to gains on the sale of certain derivatives during the quarter. These gains were partially offset by unrealized losses on other instruments held at fair value in response to changes in interest rates. Although net income increased, net interest income decreased in the first three months of 2020. The decline in net interest income was primarily due to higher net amortization as a result of accelerated prepayments of financial instruments during a period of historically low interest rates.
Balance Sheet Highlights
Total assets at March 31, 2020 were $122.5 billion, an increase of $29.0 billion (31 percent) from year-end 2019.
Mission Asset Activity – comprising major activities with members including Advances, Letters of Credit (off-balance sheet), and the Mortgage Purchase Program – was $108.1 billion at March 31, 2020, an increase of $32.7 billion (43 percent) from year-end 2019. The increase in Mission Asset Activity was primarily driven by growth in Advance balances. The FHLB experienced Advance growth across its membership in the first quarter as the financial markets reacted to the coronavirus pandemic (COVID-19), and members turned to the FHLB for liquidity. Being a preferred partner and reliable source of liquidity, even during times of extraordinary market stress, is a principal component of the FHLB's mission.



The following information was filed by Federal Home Loan Bank Of Cincinnati on Tuesday, April 28, 2020 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information Document
Statements Of Capital
Statements Of Cash Flows
Statements Of Comprehensive Income
Statements Of Condition
Statements Of Condition (Parenthetical)
Statements Of Income
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive (Loss) Income (Details)
Accumulated Other Comprehensive (Loss) Income (Tables)
Advances
Advances (Advance Redemption Terms) (Details)
Advances (Advances By Interest Rate Payment Terms) (Details)
Advances (Advances By Year Of Contractual Maturity Or Next Put/Convert Date For Putable/Convertible Advances) (Details)
Advances (Borrowers Holding Five Percent Or More Of Total Advances) (Details)
Advances (Year Of Contractual Maturity Or Next Call Date) (Details)
Advances Advances (Tables)
Advances Narrative (Details)
Affordable Housing Program (Ahp)
Affordable Housing Program (Ahp) (Details)
Affordable Housing Program (Ahp) (Tables)
Background Information
Background Information (Details)
Basis Of Presentation (Notes)
Capital
Capital (Details)
Capital (Mandatorily Redeemable Capital Stock By Contractual Year Of Redemption) (Details)
Capital (Mandatorily Redeemable Capital Stock) (Details)
Capital (Tables)
Capital Narrative (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Commitments And Contingencies (Tables)
Consolidated Obligations
Consolidated Obligations (Tables)
Consolidated Obligations Bonds By Call Feature (Details)
Consolidated Obligations Bonds By Contractual Maturity Or Next Call Date (Details)
Consolidated Obligations Bonds By Interest-Rate Type (Details)
Consolidated Obligations Bonds By Original Contractual Maturity (Details)
Consolidated Obligations Discount Notes (Details)
Deposits
Deposits (Tables)
Deposits Deposits (Details)
Derivatives And Hedging Activities
Derivatives And Hedging Activities (Tables)
Derivatives And Hedging Activities Derivative Fair Value Hedges (Details)
Derivatives And Hedging Activities Derivatives In Statement Of Condition (Details)
Derivatives And Hedging Activities Derivatives In Statement Of Income (Details)
Derivatives And Hedging Activities Derivatives In Statement Of Income And Impact On Interest (Details)
Derivatives And Hedging Activities Offsetting Of Derivative Assets And Derivative Liabilities (Details)
Fair Value Disclosures
Fair Value Disclosures Fair Value (Tables)
Fair Value Disclosures Fair Value Difference Between Fair Value And Remaining Contractual Principal Balance Outstanding (Details)
Fair Value Disclosures Fair Value Impact On Financial Performance (Details)
Fair Value Disclosures Fair Value Measured On A Recurring Basis (Details)
Fair Value Disclosures Fair Value Summary (Details)
Investments
Investments (Tables)
Investments Afs Securities By Contractual Maturity (Details)
Investments Afs Securities By Interest Rate Payment Terms (Details)
Investments Afs Securities By Major Security Type (Details)
Investments Afs Securities Continuous Unrealized Loss Position (Details)
Investments Htm Securities By Interest Rate Payment Terms (Details)
Investments Htm Securities By Major Security Type (Details)
Investments Htm Securities Net Premuims (Discounts) (Details)
Investments Htm Securitites By Contractual Maturity (Details)
Investments Narrative (Details)
Investments Trading Securities By Major Security Type (Details)
Investments Trading Securities Net Gains (Losses) (Details)
Mortgage Loans
Mortgage Loans (Tables)
Mortgage Loans Members With Five Percent Or More Of Mortgage Loans (Details)
Mortgage Loans Mortgage Loans Allowance Rollforward (Details)
Mortgage Loans Mortgage Loans Held For Portfolio (Details)
Mortgage Loans Mortgage Loans Other Delinquency Status (Details)
Mortgage Loans Mortgage Loans Past Due (Details)
Mortgage Loans Mortgage Loans Rollforward Of Lra (Details)
Mortgage Loans Narrative (Details)
Pension And Postretirement Benefit Plans
Pension And Postretirement Benefit Plans (Tables)
Pension And Postretirement Benefit Plans Narrative (Details)
Pension And Postretirement Benefit Plans Net Periodic Benefit Cost (Details)
Recently Issued Accounting Standards And Interpretations
Recently Issued Accounting Standards And Interpretations (Policies)
Segment Information
Segment Information (Tables)
Segment Information Asset Balances (Details)
Segment Information Financial Performance (Details)
Transactions With Other Fhlbanks
Transactions With Other Fhlbanks (Details)
Transactions With Other Fhlbanks (Tables)
Transactions With Stockholders
Transactions With Stockholders (Concentrations) (Details)
Transactions With Stockholders (Details)
Transactions With Stockholders (Tables)

Material Contracts, Statements, Certifications & more

Federal Home Loan Bank Of Cincinnati provided additional information to their SEC Filing as exhibits

CIK: 1326771
Form Type: 10-Q Quarterly Report
Accession Number: 0001326771-20-000066
Submitted to the SEC: Thu May 07 2020 12:17:47 PM EST
Accepted by the SEC: Thu May 07 2020
Period: Tuesday, March 31, 2020
Industry: Federal And Federally Sponsored Credit Agencies

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