Originally published Monday, March 30, 2009 at 8:42 AM
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Federal Home Loan Bank of Seattle reports losses
The Federal Home Loan Bank of Seattle reports a $241 million fourth quarter loss and a loss of $199 million for the year.
The Federal Home Loan Bank of Seattle reports a $241 million fourth quarter loss and a loss of $199 million for the year.
That compares with net income of $19 million in the fourth quarter a year ago and net income of $71 million for all of 2007.
The bank attributes much of the losses to mortgage-backed securities.
The Federal Home Loan Bank of Seattle is a financial cooperative with 380 members that supports the affordable homes and economic development.
Copyright © 2009 The Seattle Times Company
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