What is the 11th District Cost of Funds Index? - Definition

What is the 11th District Cost of Funds Index? - Definition
The 11TH DISTRICT COST OF FUNDS Index is
a monthly cost-of-funds index (COFI) reflecting a weighted-average (an average based on a time period such as the prior 12 months) interest rate paid by 11th

Federal Home Loan Bank District savings institutions for savings and checking accounts. The 11th district encompasses Arizona, California and Nevada. The index is published on the last day of the month and gives the cost of funds for the prior month.