FHLBNY Announces First Quarter 2010 Operating Highlights

 

FEDERAL HOME LOAN BANK OF NEW YORK
Statements of Income — Unaudited

(In thousands)

 

Three Months Ended

 

March 31

 

2010

 

2009

INTEREST INCOME

Advances

$149,640

 

$502,222

Interest-bearing deposits

830

 

8,918

Federal funds sold

1,543

 

68

Available-for-sale securities

5,764

 

8,519

Held-to-maturity securities

    Long-term securities

98,634

 

126,820

    Certificates of Deposit

 

508

Mortgage loans held for portfolio

16,741

 

19,104

Loans to other FHLBanks and other

 

 

  Total interest income

273,152

 

666,159

 

INTEREST EXPENSE

Consolidated obligations

164,812

 

433,085

Deposits

892

 

777

Mandatorily redeemable capital stock

1,495

 

878

Cash collateral held and other borrowings

 

37

 

  Total interest expense

167,199

 

434,777

 

NET INTEREST INCOME

105,953

 

231,382

Provision for credit losses on mortgage loans

709

 

443

 

NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES

105,244

 

230,939

 

OTHER INCOME

Service fees

1,045

 

985

Instruments held at fair value — unrealized gain(loss)

(8,419)

 

8,313

 

Total OTTI losses

(3,873)

 

(15,203)

Portion of loss recognized in other comprehensive income

473

 

9,938

Net impairment losses recognized in earnings

(3,400)

 

(5,265)

 

Net gain (loss) on derivatives and hedging activities

(363)

 

(13,666)

Net realized gain from sale of securities

708

 

440

Loss on extinguishment of debt and other

15

 

46

 

  Total other income

(10,414)

 

(9,147)

 

OTHER EXPENSES

Operating

19,236

 

18,094

Finance Board and Office of Finance

2,418

 

1,967

Other

 

 

  Total other expenses

21,654

 

20,061

 

INCOME BEFORE ASSESSMENTS

73,176

 

201,731

Affordable Housing Program

6,126

 

16,557

REFCORP

13,410

 

37,035

 

  Total assessments

19,536

 

53,592

 

NET INCOME

$53,640

 

$148,139

 

 

FEDERAL HOME LOAN BANK OF NEW YORK
Statements of Condition — Unaudited

(In thousands)

 

 

March 31, 2010

 

December 31, 2009

 

March 31, 2009

ASSETS

Cash and due from banks

$1,167,824

 

$2,189,252

 

$32,136

Interest-bearing deposits

 

 

8,602,233

Federal funds sold

3,130,000

 

3,450,000

 

500,000

Available-for-sale securities net of unrealized losses

2,654,814

 

2,253,153

 

2,641,996

Held-to-maturities

    Long-term securities

9,776,282

 

10,519,282

 

9,935,079

    Certificates of deposit

 

 

300,000

Advances

88,858,753

 

94,348,751

 

104,463,598

Mortgage loans, net of allowance for credit losses

1,287,770

 

1,317,547

 

1,430,899

Loans to other FHLBanks

 

 

Accrued interest receivable

320,730

 

340,510

 

411,500

Premises, software and equipment

14,046

 

14,792

 

13,817

Derivative assets

9,246

 

8,280

 

11,463

Other assets

19,761

 

19,339

 

16,217

 

TOTAL ASSETS

$107,239,226

 

$114,460,906

 

$128,358,938

 

LIABILITIES AND CAPITAL

 

Liabilities

 

Deposits

    Interest-bearing demand

$7,942,668

 

$2,616,812

 

$2,306,887

    Non-interest bearing demand

6,254

 

6,499

 

7,528

    Term

28,000

 

7,200

 

58,000

 

  Total deposits and borrowings

7,976,922

 

2,630,511

 

2,372,415

 

Consolidated obligations, net:

    Bonds

72,408,203

 

74,007,978

 

69,582,076

    Discount notes

19,815,956

 

30,827,639

 

48,721,626

 

  Total consolidated obligations

92,224,159

 

104,835,617

 

118,303,702

 

Mandatorily redeemable capital stock

105,192

 

126,294

 

139,961

 

Accrued interest payable

330,715

 

277,788

 

385,121

Affordable Housing Program

145,660

 

144,489

 

128,368

Payable to REFCORP

13,873

 

24,234

 

41,815

Derivative liabilities

850,911

 

746,176

 

1,031,771

Other liabilities

216,168

 

72,506

 

132,658

 

  Total liabilities

101,863,600

 

108,857,615

 

122,535,811

 

Capital

 

Capital Stock

4,827,626

 

5,058,956

 

5,413,026

Unrestricted retained earnings

671,519

 

688,874

 

488,895

Accumulated other comprehensive income/(loss):

 

    Net unrealized gains (losses) on AFS Securities

11,521

 

(3,409)

 

(33,994)

    Non-credit portion of OTTI on held-to-maturity
    securities, net of accretion

(106,612)

 

(110,570)

 

(9,938)

    Net unrealized gains (losses) on hedging activities

(20,551)

 

(22,683)

 

(28,312)

    Employee supplemental retirement plans

(7,877)

 

(7,877)

 

(6,550)

 

  Total capital

5,375,626

 

5,603,291

 

5,823,127

 

TOTAL LIABILITIES AND CAPITAL

$107,239,226

 

$114,460,906

 

$128,358,938

 

 


General Terms and Conditions of Use | Privacy Policy | Forward-Looking Statements
© 2017 Federal Home Loan Bank of New York. All rights reserved.