FHLBanks' 1Q Earnings Reported

The 12 Federal Home Loan Banks posted $621 million in total earnings for the first quarter, up slightly from the $619 million recorded a year earlier, according to a report by the FHLBanks' Office of Finance.The unaudited results show that the FHLBanks have $1.020 trillion in combined assets, and advances to member banks and thrifts totaled $624 billion as of March 31, representing 61.2% of total assets. The chief investments of the FHLBanks are mortgage-backed securities, overnight and term federal funds sold, commercial paper, and securities issued by government-sponsored enterprises, the Office of Finance said. The agency can be found online at http://www.fhlb-of.com.