The Eleventh Federal Home Loan Cost of Funds Index has risen for the third consecutive month.For August, the index stood at 1.875%, up from 1.816% in July, the second consecutive month of 6-basis-point increases. According to the Federal Home Loan Bank of San Francisco's website, COFI for August was calculated based on data from 37 institutions. Average total funds for the month were $445.5 million, while average interest expenses totaled $696.0 million. The average total funds consisted of average deposit accounts of $252.0 billion, average advances of $114.8 billion, and average other borrowings of $78.7 billion. The three consecutive months of increases in the index value were the first since April-June 2002.
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