BANKING & FINANCE - June 1, 1994
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Cost-of-Funds Index at 3.672%: Rises Slightly: The Federal Home Loan Bank of San Francisco said the monthly weighted average cost-of-funds index for 11th District savings institutions for April was 3.672%. The index for March was 3.629%. Changes in interest rates on adjustable-rate mortgage loans offered by many savings institutions and commercial banks are tied to changes in the index. The cost-of-funds index reflects the interest paid by savings institutions in Arizona, California and Nevada on their various sources of mortgage money.
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