Letters of Credit
Overview Regular L/Cs     Forms MULOCs Additional Information

 

 

Calling Officers
(212) 441-6700

 

Regular Letter of Credits (L/Cs)

When L/Cs are used for general purposes, they:

  • Provide credit enhancements for collateral subordinated obligations or other mortgage-backed securities
  • Provide credit support in the sale of whole mortgage loan portfolios
  • Facilitate the beneficiary's drawing of interest payments from a bond issue
  • Support tax-exempt municipal bonds

 

When L/Cs are used for eligible housing and community lending,* they:

  • Provide funds at a discounted price, below regular L/C prices, to finance lending activities
  • Facilitate transactions that promote home financing, housing activity, or financing of commercial and economic development

 

*Projects must qualify for the FHLBNY's Community Investment Cash Advance Programs (CIP, RDA, and UDA).  For more information on eligible projects, click here or call (212) 441-6850.

 

 

Calling Officers
(212) 441-6700

 

 
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