Exhibit 12.1

	Years Ended December 31,
	2009		2008		2007		2006		2005
Earnings:
Income before assessments and cumulative effect of change in accounting principle	$	386,020	$	345,591	$	606,819	$	564,798	$	473,406
Fixed charges		1,867,296		5,787,159		7,712,290		6,515,669		4,373,095
Earnings available for fixed charges	$	2,253,316	$	6,132,750	$	8,319,109	$	7,080,467	$	4,846,501
Fixed charges:
Interest on consolidated obligations	$	1,862,113	$	5,673,829	$	7,419,087	$	6,263,775	$	4,181,838
Interest on deposits		3,646		109,726		266,562		218,831		152,872
Interest on borrowings from other FHLBanks		5		136		48		68		33
Interest on securities sold under agreement to repurchase		—		1,607		14,550		23,200		28,776
Mandatorily redeemable capital stock		1,505		1,504		11,307		9,234		9,405
Interest on other borrowings		27		357		736		561		171
Fixed charges	$	1,867,296	$	5,787,159	$	7,712,290	$	6,515,669	$	4,373,095
Ratio of earnings to fixed charges		1.21		1.06		1.08		1.09		1.11