June 27, 2014
Contact: Eric Amig - (212) 441-6807
Brian Finnegan - (212) 441-6877
FHLBNY Commences 2014 Board of Directors Election Process
-FHLBNY soliciting nominations for five Director seats-
New York, New York — The Federal Home Loan Bank of New York (“FHLBNY”) is now formally soliciting nominations for Directors to serve on its Board of Directors (“Board”) for terms commencing on January 1, 2015, the FHLBNY announced in a letter sent to its members on Friday, June 27, 2014. In total, five Directorships will be up for election in 2014.
“Our Board provides the Home Loan Bank with the guidance needed to meet the needs of our members and the communities we all serve,” said José R. González, president and CEO of the FHLBNY. “The various strengths and interests of our membership are reflected in our Board, and I encourage all members of our cooperative to be involved in the election process.”
In total, three Member Directorships – two seats representing the Bank’s New Jersey members and one seat representing the Bank’s New York members – are up for election in 2014. In addition, two Independent Directors are to be elected in 2014.
The FHLBNY’s official Certificate of Nomination was included in materials sent to members on June 27, 2014. Eligible New Jersey and New York stockholders may, using the Certificate, nominate one person for each of their state’s open Member Directorships. Separately, those individuals interested in being nominated for the two open Independent Directorships must first submit an Independent Director Application Form to the Bank. A copy of the Application Form can be found at here in the section entitled “About the FHLBNY’s 2014 Director Election”. All Certificates of Nomination and Independent Director Application Forms are due at the FHLBNY by 5:00 p.m. on Wednesday, July 30, 2014.
Any questions on the 2014 Director election process should be directed to Paul Friend, the FHLBNY’s general counsel, at email@example.com.
Federal Home Loan Bank of New York
The Federal Home Loan Bank of New York is a Congressionally chartered, wholesale Bank. It is part of the Federal Home Loan Bank System, a national wholesale banking network of 12 regional, stockholder-owned banks. The FHLB of New York currently serves more than 330 financial institutions in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. The mission of the Federal Home Loan Banks is to support the efforts of local members to help provide financing for America’s homebuyers.
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Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
This report may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. These statements may use forward-looking terms, such as "projected," "expects," "may," or their negatives or other variations on these terms. The Bank cautions that, by their nature, forward-looking statements involve risk or uncertainty and that actual results could differ materially from those expressed or implied in these forward-looking statements or could affect the extent to which a particular objective, projection, estimate, or prediction is realized. These forward-looking statements involve risks and uncertainties including, but not limited to, regulatory and accounting rule adjustments or requirements, changes in interest rates, changes in projected business volumes, changes in prepayment speeds on mortgage assets, the cost of our funding, changes in our membership profile, the withdrawal of one or more large members, competitive pressures, shifts in demand for our products, and general economic conditions. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.