The Bank accepts data for the COFI for a given month from the COFI Reporting Members until 12 noon California time on the last business day of the following month and publishes the COFI for that given month based on data received by that time.
Certain corporate activity, such as charter changes or mergers, may cause the Bank to determine that a financial institution no longer qualifies as a COFI Reporting Member and will no longer be included in the COFI.
For additional information and disclosures about the calculation of the COFI, removal of a COFI Reporting Member, and other matters concerning the COFI, visit the Bank's website at www.
Or, instead of being good to the last drop, COFI could be getting a little stale.
Commercial bank members, which outnumber thrifts in the district, are not included in determining the COFI.
The only significant non-California COFI business is done by Great Western Bank, A Federal Savings Bank of Chatsworth, California; Home Savings of America FSB of Los Angeles and other H.
In August, a COFI ARM, for example, had an introductory rate of 3.
That [TABULAR DATA FOR FIGURE 1 OMITTED] means that when the Treasury index starts moving up, COFI loans remain attractive, particularly for borrowers stretching to qualify for a mortgage.
For the first-time homebuyer, the major COFI customers, this rate advantage could determine whether they can purchase a house.
The bank said it does not examine the books and records of its COFI
Reporting Members for the purpose of confirming the accuracy of the data they deliver to the Bank used to calculate the COFI
, and the Bank expressly disclaims all liability that may arise from any use of the COFI
or the use of inaccurate data received from its COFI
Reporting Members in calculating the COFI