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Article: Federal Home Loan Bank of Seattle Announces Third-Quarter 2009 Financial Results.(Financial report)
- Article from:
- Investment Weekly News
- Article date:
- November 14, 2009
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The Federal Home Loan Bank of Seattle (Seattle Bank) announced unaudited financial results for the third quarter of 2009. The Seattle Bank reported net losses of $93.8 million and $144.3 million for the three and nine months ended September 30, 2009, compared to a net loss of $18.8 million and net income of $41.8 million for the three and nine months ended September 30, 2008.
The Seattle Bank attributes its third-quarter and year-to-date 2009 net losses primarily to $130.1 million and $263.5 million of credit-related charges associated with projected losses on its investments in private-label mortgage-backed securities. The bank has continued to receive all ...