The Eleventh Federal Home Loan District Cost of Funds Index increased 24.5 basis points between February and March to 1.859%. With the exception of the run-up in the Index caused by the Federal Home Loan Bank of San Francisco removing Wachovia Mortgage FSB from the calculations back in November and December 2009, this is the highest COFI has been since May 2009. For March 22 eligible institutions reported data that FHLB-SF used to determine COFI. Average total funds in March were $38.5 billion and total interest expense $59.6 million. In February, COFI was 1.614% and in March 2009, it was 1.627%.
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