ARM Indexes: Monthly Median Annualized Cost of Funds, 2010-present (explanation)

Source: Office of Thrift Supervision

Alias "National Average Cost of Funds Ratio to OTS-Regulated, SAIF-Insured Institutions"

Announcement Date	Index Month	Index Value
03/15/2010	January 2010	1.98000
04/15/2010	February 2010	1.94000
05/14/2010	March 2010	1.90000
06/15/2010	April 2010	1.83000
07/15/2010	May 2010	1.80000
08/16/2010	June 2010	1.78000
09/15/2010	July 2010	1.74000
10/15/2010	August 2010	1.70000
11/15/2010	September 2010	1.66000
12/15/2010	October 2010	1.62000
01/14/2011	November 2010	1.57000
02/15/2011	December 2010	1.53000

Announcement Date	Index Month	Index Value
03/15/2011	January 2011	1.48000
04/15/2011	February 2011	1.44000
05/16/2011	March 2011	1.43000
06/15/2011	April 2011	1.39000
07/15/2011	May 2011	1.37000
08/15/2011	June 2011	1.34000
09/15/2011	July 2011	1.31000
10/14/2011	August 2011	1.28000
11/15/2011	September 2011	1.25000
12/15/2011	October 2011	1.22000
01/17/2012	November 2011	1.20000
02/15/2012	December 2011	1.16000

Announcement Date	Index Month	Index Value
02/15/2012	December 2011	1.16000

Please Note: The Monthly Median Annualized Cost of Funds has been discontinued by its source.

After the incorporation of the Office of Thrift Supervision (OTS) into the Office of the Comptroller of the Currency in 2011, reporting for the Monthly-, Quarterly and SemiAnnual National Median Cost of Funds reports are discontinued. The last monthly figure became available on February 15th; the final quarterly on March 15. See this announcement in the Federal Register. In it, the OCC provides guidance on a substitute index to replace the MMCOF; the Federal Cost of Funds should be used in its place. Servicers are urged to download a copy of the Federal Register for their files.

The average cost of funds ratio is defined as the sum of the period interest paid and accrued on deposits (excluding escrow deposits), FHLB advances, and other borrowings, divided by the average period balance of deposits (excluding escrow deposits), FHLB advances, and other borrowings. The median cost of funds is the midpoint value of individual institutions' cost of funds ratios.

The series reflects cost of funds for OTS-Regulated, SAIF Insured Institutions. The OTS does not regulate all SAIF-Insured Institutions and non-regulated institutions are not required to file Thrift Financial Reports nor monthly Cost of Funds reports.

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