Exhibit 12.1

FHLBank Topeka

Calculation of Earnings to Fixed Charges

(in thousands)

	12/31/2008		12/31/2007		12/31/2006		12/31/2005		12/31/2004
Earnings
Income Before Assessments	$	38,777	$	204,816	$	186,041	$	185,627	$	127,989
Total Fixed Charges		1,642,925		2,517,128		2,238,914		1,500,725		798,103
Capitalized Interest		0		0		0		0		0
Total Earnings		1,681,702		2,721,944		2,424,955		1,686,352		926,092
Fixed Charges
Interest Expense1		1,642,925		2,517,128		2,238,914		1,500,725		798,103
Capitalized Interest		0		0		0		0		0
Estimated Interest Attributable to Rental Expense 2		0		0		0		0		0
Total Fixed Charges	$	1,642,925	$	2,517,128	$	2,238,914	$	1,500,725	$	798,103
Earnings to Fixed Charges Ratio		1.02		1.08		1.08		1.12		1.16

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1      For purposes of this calculation the amortization of premium, discount, and capitalized expenses related to indebtedness are included in interest expense and have not been separately displayed in this calculation.

2      The FHLBank has rental expense; however, has not placed an estimated of the interest expense included in rental expense in this calculation as the amount is very minimal.