Press Releases

July 15, 2010

Contact: Eric Amig - (212) 441-6807
Brian Finnegan - (212) 441-6877

FHLBNY and Alfred A. DelliBovi Honored on the Floor of the U.S. House of Representatives by New York Congressman Maurice Hinchey

Hinchey honors FHLBNY for its Affordable Housing Program

New York, NY – Since 1990, the Federal Home Loan Bank of New York has provided more than $220 million in grants to more than 750 affordable housing initiatives across New York State through its Affordable Housing Program (“AHP”).  These projects have helped create, rehabilitate or preserve more than 30,000 affordable homes for low-income families, seniors and the workforce across the Empire State, and have generated more than $3.5 billion in total development costs for local economies.  On July 8, at the dedication ceremony of The Birches at Chambers, a state-of-the art, affordable senior living community in Ulster, New York, which was partially funded by the AHP, Federal Home Loan Bank of New York President and CEO Alfred A. DelliBovi was honored by Congressman Maurice Hinchey (NY-22) for the Bank’s contributions to affordable housing.

“Under the guidance of president and CEO Alfred A. DelliBovi since 1992, the Federal Home Loan Bank of New York has helped community lenders across New York, New Jersey, Puerto Rico and the U.S. Virgin Islands advance housing and community growth,” Congressman Hinchey said in a statement for the Congressional Record.

In his comments at the event, Mr. DelliBovi thanked Congressman Hinchey for his continued support of affordable housing initiatives across New York’s 22nd District.  The AHP has been especially active in the 22nd District, supporting 51 projects with grants of more than $18 million, helping to create nearly 2,300 affordable homes.

About the 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. As of September 30, 2018, the FHLBNY serves 326 financial institutions in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. The Federal Home Loan Banks 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.

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