1331757--3/25/2010--Federal_Home_Loan_Bank_of

related topics

{capital, credit, financial}

{investment, property, distribution}

{loan, real, estate}

{condition, economic, financial}

{loss, insurance, financial}

{stock, price, share}

{system, service, information}

Our profitability may be adversely affected if we are not successful in managing our interest rate risk. Exposure to credit risk from our customers could have a negative impact on our profitability and financial condition. Loss of members or borrowers could adversely affect our earnings, which could result in lower investment returns and/or higher borrowing rates for remaining members. Members funding needs may decline, which could reduce loan demand and adversely affect our earnings. We face competition for loan demand, which could adversely affect our earnings. Changes in investors perceptions of the creditworthiness of the FHLBanks may adversely affect our ability to issue consolidated obligations on favorable terms. Competition for funding may adversely affect our cost of funds and our access to the capital markets. Changes in overall credit market conditions may adversely affect our cost of funds and our access to the capital markets. Our joint and several liability for all consolidated obligations may adversely impact our earnings, our ability to pay dividends, and our ability to redeem or repurchase capital stock Exposure to credit risk on our investments and MPF loans could have a negative impact on our profitability and financial condition. Changes in our access to the interest rate derivatives market under acceptable terms may adversely affect our ability to maintain our current hedging strategies. Defaults by or the insolvency of one or more of our derivative counterparties could adversely affect our profitability and financial condition. Changes in the regulatory environment could negatively impact our operations and financial results and condition. An interruption in our access to the capital markets would limit our ability to obtain funds. A failure or interruption in our information systems or other technology may adversely affect our ability to conduct and manage our business effectively. Lack of a public market and restrictions on transferring our stock could result in an illiquid investment for the holder. Failure by a member to comply with our minimum investment requirement could result in substantial penalties to that member and could cause us to fail to meet our capital requirements. Finance Agency authority to approve changes to our capital plan and to impose other restrictions and limitations on us and our capital management may adversely affect members. Regulatory limitations on our ability to pay dividends could result in lower investment returns for members. The terms of any liquidation, merger or consolidation involving us may have an adverse impact on members investments in us.

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1331757--3/25/2010--Federal_Home_Loan_Bank_of_Dallas