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



Calling Officers
(212) 441-6700


Applying for an FHLBNY Letter of Credit

Step 1:  Enroll in the Letter of Credit program by completing the following forms:

  1. Global Authorization Form (HLB-106)
    Complete this form for employees you wish to grant permissions (Section 4) to execute a Letter of Credit at the FHLBNY.
  2. Irrevocable Letter of Credit Reimbursement Agreement (HLB-115)
    Complete this one-time enrollment form for the FHLBNY’s Letter of Credit program.  Once your institution is enrolled, you need to submit a Letter of Credit Issuance Application (HLB-116) and any supporting documentation requested by the FHLBNY each time you wish to use this credit instrument.


Step 2:  Apply for a Regular Letter of Credit product:

  1. Complete the Letter of Credit Issuance Application (HLB-116).
  2. In addition, you may be asked to provide us with the following supporting documents:
    1. Project descriptions;
    2. Project’s exact address;
    3. Bond Official Statement or Private Placement Memorandum (if applicable);
    4. Trust Indenture (if applicable);
    5. Your institution's Internal Credit Analysis of the transaction;
    6. Your institution's Internal Credit Approval Memorandum or Report;
    7. Copy of your Letter of Credit or a draft Letter of Credit, if you are applying for a confirming Letter of Credit; and
    8. Any additional documentation at the FHLBNY's request (i.e., documents supporting eligibility for CICA Letters of Credit).



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.