FHLB To Trim Dividend

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SAN FRANCISCO - (09/29/04) -- The Federal Home Loan bank of SanFrancisco said it expects to pay a healthy 3.90% dividend on itsstock for the third quarter, down from the 4.68% paid for thesecond quarter. The dividend must still be approved by the FederalHousing Finance Board which regulates the 12 regional FHLBs. Thereare 342 financial institution member/owners of the San Franciscobank, including 50 credit unions.

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