Metropolitan Life Becomes First Insurance Company
to Join FHLBNY
Contact: Eric Amig - 212 441-6807 |
November 1 , 2006 |
New York, New York - Metropolitan Life Insurance Company ("MetLife") has been approved for membership at the Federal Home Loan Bank of New York ("FHLBNY"). Metropolitan Life Insurance Company is the first life insurance company to become a member of the FHLBNY, a regional wholesale bank. The FHLBNY advances housing opportunity and local community development by maximizing the capacity of its member-lenders to serve their markets.
"The Federal Home Loan Bank of New York is delighted to welcome New York-based MetLife as our newest member. MetLife not only is the first life insurance company to join the Bank, but also one of the premier financial institutions in the nation," said Alfred DelliBovi, President of the FHLBNY.
Tony Williamson, Senior Vice President and Treasurer of MetLife, said "Membership in the Federal Home Loan Bank of New York is an important element in our strategic plan to secure multiple sources of reliable funding. We are pleased to be the first life insurance company member, and we look forward to a long and mutually beneficial relationship."
MetLife is a subsidiary of MetLife, Inc. (NYSE: MET), a leading provider of insurance and financial services with operations throughout the United States and the Latin America, Europe and Asia Pacific regions. Through its domestic and international subsidiaries and affiliates, MetLife, Inc. reaches more than 70 million customers around the world and MetLife is the largest life insurer in the United States (based on life insurance in-force). The MetLife companies offer life insurance, annuities, auto and home insurance, retail banking and other financial services to individuals, as well as group insurance, reinsurance and retirement & savings products and services to corporations and other institutions. For more information, please visit www.metlife.com.
The Federal Home Loan Bank of New York is a AAA rated, 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 Federal Home Loan Bank of New York currently serves 292 financial institutions in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands.
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