Overall earnings were up for the Federal Home Loan Bank System in the third quarter, but a majority of Banks saw their income decline from last year – apparently due to losses related to derivative hedges. According to numbers compiled by Inside The GSEs from 11 of the 12 FHLBanks, the GSEs’ posted a combined 16.9 percent gain in the third quarter over their results from the same period last year. Seven of these 11,