Federal Home Loan Bank of San Francisco

Item 2.02 Results of Operations and Financial Condition.

On October 23, 2026, the Federal Home Loan Bank of San Francisco (the "Bank") issued a news release announcing its operating results for the third quarter of 2026. A copy of the news release is included as Exhibit 99.1 to this report. The information contained in Exhibit 99.1 is being furnished pursuant to Item 2.02 of this report and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

The news release set forth above in Item 2.02 is hereby incorporated into Item 7.01 by reference.

Item 9.01 Financial Statements and Exhibits. (d) Exhibits 99.1 News Release dated October 23, 2026, issued by the Federal Home Loan Bank of San Francisco 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)