June 26, 2015
Contact: Eric Amig - (212) 441-6807
Brian Finnegan - (212) 441-6877
FHLBNY Commences 2015 Board of Directors Election Process
-FHLBNY soliciting nominations for four Director seats-
New York, NY – The Federal Home Loan Bank of New York (“FHLBNY”) is now formally soliciting nominations for candidates to serve on its Board of Directors (“Board”) for terms commencing on January 1, 2016, the FHLBNY announced in a letter sent to its members on Friday, June 26, 2015. In total, four Directorships will be up for election in 2015.
“Our Board is active and involved, and the knowledge and expertise our Directors bring is extremely valuable to our cooperative,” said José R. González, president and CEO of the FHLBNY. “Their guidance helps to position us as a reliable partner for our members, and as a result, I encourage all of our members to be involved in the election process.”
Two Member Directorships representing the FHLBNY’s New York members are up for election in 2015. Two Independent Directorships representing the whole District are also up for election.
The FHLBNY’s official Certificate of Nomination was included in materials sent to members on June 26, 2015. Eligible New York stockholders may, using the Certificate, nominate one person for each of the two 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 here in the section entitled “About the FHLBNY’s 2015 Director Election”. All Certificates of Nomination and Independent Director Application Forms are due at the FHLBNY by 5:00 p.m. on Tuesday, July 28, 2015.
Any questions on the 2015 Director election process should be directed to Paul Friend, the FHLBNY’s general counsel, at firstname.lastname@example.org.
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 11 regional, stockholder-owned banks. The FHLB of New York currently serves more than 325 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.