The Federal Home Loan Bank of Cincinnati (FHLBank) today released unaudited financial results for the second quarter and six months ended June 30, 2008.
Assets and Mission Asset Activity
Assets were $95.0 billion on June 30, 2008, up 9 percent compared to year-end 2007. The balance of Mission Asset Activity -- which comprises the FHLBank's two main lines of business, Credit Services and the Mortgage Purchase Program -- grew 7 percent from year-end 2007 to $73.9 billion. The principal balance of Advances was $57.2 billion at June 30, 2008, an increase of 8 percent from year-end 2007, continuing a trend which began in the second half of 2007. We believe this continued growth was the result of members' broad-based increased demand for liquidity and funding related to the ongoing world-wide disruptions in the credit and mortgage markets. The average principal balance of Advances during the first six months of 2008 was $59.8 billion, up over 29 percent when compared to the same period of 2007.
