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FOR IMMEDIATE RELEASE

Growth in FHLBank Mission Assets Continues in September   

The Office of Finance is releasing the following information regarding the continued strong growth in FHLBank mission assets and consolidated obligations.

During the month of September, members increased participation in FHLBank borrowing programs. As of September 30, 2007, advances (collateralized loans to members) outstanding for the FHLBanks on a combined basis were $822 billion, up by $53 billion from August 31, 2007.  Consolidated obligations outstanding were $1,149 billion, up $61 billion from the previous month, funding the lending business while assuring a prudent level of liquidity going forward.  The net change reflects a $61 billion increase in discount notes to $311 billion; outstanding bonds remained virtually unchanged at $838 billion.

The primary business of the FHLBanks is to provide members with collateralized loans and other credit products which support primary liquidity in the U.S. housing market.  The current FHLBank membership is comprised of virtually all types of regulated financial institutions, including commercial banks, savings associations, thrifts, credit unions and insurance companies.

In 2007, the FHLBanks celebrate 75 years of delivering innovation and service to their member institutions in support of the U.S. housing market.  The FHLBanks currently have over 8,100 members in all 50 states, American Samoa, Guam, Puerto Rico, the Northern Mariana and U.S. Virgin Islands.  Please call Mike Ciota at 703-467-3608 (ciota@fhlb-of.com) for additional information.

All dollar amounts referenced are at par before SFAS 133 and other accounting and interbank adjustments.  All amounts are preliminary and subject to change.

We are providing this information due to current market conditions and do not expect it to become a regular monthly event.