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



Calling Officers
(212) 441-6700


Regular Letters of Credit (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


General Terms and Conditions of Use | Privacy Policy | Forward-Looking Statements
Our friendly lawyers have asked us to tell you that visitors remaining in session with this site IMPLICITLY CONSENT to our General Terms and Conditions of Use and our Privacy Policy, and ACKNOWLEDGE our Cautionary Language Regarding Forward-Looking Statements. Please exit this session if you do not agree with the foregoing.
© Federal Home Loan Bank of New York. All rights reserved. Site Best viewed in Internet Explorer 7.0+ browser.