The Federal Home Loan Bank of Seattle has released its preliminary unaudited operating highlights for the year ended December 31, 2009. The results showed a net loss of $161.6 million. The loss is attributed to the Bank’s 2009 net loss of $311.2 million of credit related charges in association with expected losses on its investments on private label mortgage backed securities classified as other than temporarily impaired. The Bank will release the audited financial results for 2009 in its From 10-k filing with the Securities and Exchange Commission on March 25, 2010. The results may be obtained online at www.sec.com after that date.
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The Federal Home Loan Bank of Seattle is a financial cooperative that provides liquidity, funding, and services to enhance the success of its members and support the availability of affordable homes and economic development in the communities they serve. Our funding and financial services enable approximately 375 member institutions to provide their customers with greater access to mortgages, commercial lending, and affordable housing. The Seattle Bank serves eight states, American Samoa, Guam, and the Northern Mariana Islands. Our members include commercial banks, credit unions, thrifts, industrial loan corporations, and insurance companies.
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