Statements contained on this website, including statements describing the objectives, projections, estimates, or predictions of the Bank, may be "forward-looking statements". All statements other than statements of historical fact are statements that could potentially be forward-looking statements. These statements may use forward-looking terminology, such as "anticipates," "believes," "could," "estimates," "may," "should," "will," or other variations on these terms or their negatives. These statements may involve matters pertaining to, but not limited to, projections regarding revenue, income, earnings, capital expenditures, dividends, the capital structure and other financial items; statements of plans or objectives for future operations; expectations of future economic performance; and statements of assumptions underlying certain of the foregoing types of statements.
The Bank cautions that, by their nature, forward-looking statements involve risks or uncertainties, and actual results could differ materially from those expressed or implied in these forward-looking statements or could affect the extent to which a particular objective, projection, estimate or prediction is realized. As a result, readers are cautioned not to place undue reliance on such statements, which are current only as of the date thereof. The Bank will not undertake to update any forward-looking statement herein or that may be made from time to time on behalf of the Bank.
These forward-looking statements may not be realized due to a variety of risks and uncertainties including, but not limited to, the following:
- changes in demand for Bank advances resulting from changes in Members' deposit flows and credit demands;
- volatility of market prices, rates and indices or other factors that could affect the value of collateral held by the Bank as security for the obligations of Members and counterparties to derivatives and similar agreements, which could result from the effects of, and changes in, various monetary or fiscal policies or regulations, including those determined by the Federal Reserve Board and the Federal Deposit Insurance Corporation;
- political events, including legislative, regulatory, judicial or other developments that affect the Bank, its Members, counterparties and/or investors in the consolidated obligations of the FHLBanks, such as changes in the Federal Home Loan Bank Act or Federal Housing Finance Agency regulations that affect the Bank's operations and regulatory oversight;
- competitive forces, including without limitation other sources of funding available to Members, other entities borrowing funds in the capital markets, the ability to attract and retain skilled employees and general economic and market conditions;
- the pace of technological change and the ability of the Bank to develop and support technology and information systems, including the Internet, sufficient to manage the risks of the Bank's business effectively;
- changes in investor demand for consolidated obligations and/or the terms of derivatives and similar agreements, including without limitation changes in the relative attractiveness of consolidated obligations as compared to other investment opportunities;
- timing and volume of market activity;
- the ability to introduce new products and services and to successfully manage the risks associated with those products and services, including new types of collateral securing advances;
- risk of loss arising from litigation filed against one or more of the FHLBanks;
- changes to, or differing interpretations of, accounting standards;
- the Bank's ability to identify, manage, mitigate and/or remedy internal control weaknesses and other operational risks;
- significant business disruptions resulting from natural or other disasters, acts of war or terrorism;
- the loss of large members;
- the inability of another FHLBank to make principal or interest payments on consolidated obligations on which it was the primary obligor;
- adverse developments or events, such as financial restatements or rating agency downgrades, affecting or involving one or more of the other FHLBanks or the FHLBank System in general.
The Bank operates in a changing economic environment, and new risk factors emerge from time to time. Management cannot predict such new risk factors, nor can it assess the impact, if any, of such new risk factors on the business of the Bank or the extent to which any factor, or combination of factors, may cause actual results to differ significantly from those implied by any forward-looking statements.