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Thursday, February 25, 2010
HSH's office is closed today due to yet another snowstorm, but index reports are going out.
Wednesday, February 10, 2010
No word yet on whether the Fed will again delay the release of the weekly H.15 due to the unrelenting snowstorms; if you're curious, check out this page.
HSH is, however, closed today -- the area is getting socked by blizzard-like conditions. While we can't answer the phones, we're reachable via email.
UPDATE: The weekly H.15 is out. New Treasury and other values will appear on tomorrow's reports.
Tuesday, February 9, 2010
Weekly H.15 delayed again:
No update on February 8, 2010
Due to inclement weather, the Federal Reserve Board is closed on Tuesday, February 9, 2010. The H.15 weekly release and daily update scheduled for today will not be published. The release and daily update will be published on Wednesday, February 10, 2010, unless otherwise announced.
Monday, February 8, 2010
Weekly H.15 delayed -- from the Federal Reserve website:
No update on February 8, 2010
Due to inclement weather, the Federal Reserve Board is closed on Monday, February 8, 2010. The H.15 weekly release scheduled for today will not be published. The release and daily update will be published on Tuesday, February 9, 2010, unless otherwise announced.
Thursday, January 21, 2009
Freddie Mac's RNY page shows the 'open' as 09:30:52 EST, so that's what we're going with today.
Friday, January 15, 2010
Were you wondering why the 11th District Cost of Funds index leaped 84 basis points (0.84%) in a single month? This article in The Wall Street Journal explains why:
The jump in Cofi is tied to the wave of bank mergers caused by the financial crisis. It has its roots in the 2006 acquisition of California lender Golden West Financial Corp. by Wachovia Corp. The deal left Wachovia with souring mortgages and spurred that bank's sale to Wells Fargo & Co. in 2008. Wachovia was by far the biggest bank included in the Cofi calculation, and as part of its acquisition by Wells Fargo, it was removed from the report data for Cofi.
Read the whole thing.
UPDATE: The FLHBank of San Franciso has added this to its page which announces the latest COF:
Note: Effective November 1, 2009, Wachovia Mortgage, FSB, merged into Wells Fargo Bank, N.A., which is not eligible to be a COFI Reporting Member. As a result, Wachovia Mortgage was not included in the November 2009 Cost of Funds Index. The impact of removals of COFI Reporting Members on the COFI depends entirely on the amount of interest expense and total funds (deposit accounts, advances, and other borrowings) of the entity being removed. If an institution with a large amount of interest expense and total funds is removed from the COFI Reporting Members, the impact on the COFI may be significant.
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