Frequently Asked Questions

The Federal Home Loan Bank of New York has compiled a list of Frequently Asked Questions and their answers below. If there is an area of interest that is not on the list, please feel free to contact a Calling Officer at (212) 441-6700 or e-mail fhlbny@fhlbny.com.

About Credit Services

 

  1. What is an "Advance"? 
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    • An advance is a fully collateralized loan that provides essential liquidity and long-term financing to members. Members of the Federal Home Loan Bank of New York (FHLBNY) have access to a wide variety of advance programs that have been designed to assist our members in meeting their credit needs.
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  2. What is the longest advance maturity the FHLBNY currently offers?
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    • Advances are available to members from overnight to 30 years.
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  3. Where can a member obtain advance rates?
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    • The FHLBNY is no longer posting rate indications on our website. Members can request to receive the daily rate indications via email. To sign up, email fhlbny@fhlbny.com with your full name, title, name of your institution, and email address. Members can also contact our Credit Services Representatives at (212) 441-6600 for a live quote. All rates are subject to change during the day depending on market conditions.
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  4. How does a member request an advance?
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    • Advance requests can be made either over the phone or through 1Linksm, the FHLBNY’s online banking system. However, please note that online borrowing via 1Link is limited to fixed rate or repo advances with final maturities of 11 months or less.
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  5. Can members prepay an advance?
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    • Yes. All advances may be prepaid in whole or in part prior to maturity at the option of the member, upon payment of an Early Termination Fee, if applicable. All prepayment requests must be made in writing and prepayment transactions will generally occur on the business day following the day of the request.
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  6. Where can members find out more information about the FHLBNY's products and services?
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    • The FHLBNY’s Member Products Guide (MPG) provides a great deal of information on the programs and products the FHLBNY currently offers. The MPG is available to all members through 1Link. Our Calling Officers and Customer Service Representatives are also available to answer any questions you may have about our products and services at (212) 441-6700.
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