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Key Contacts

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).