Convertible Rates
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Updated: Mar 10 2010 10:45AM |
The following rates are for indication only. All rates are subject to change without notice. The rates listed in this section assume that an advance will be collateralized with investment securities. If other collateral is used the rate will be higher. FHLBNY Members should contact our Credit Services Representatives at 212-441-6600 for a live quote.
Convertible Repo Advances1
As of: 03/08/10
Structure2 |
Bermudan |
European |
Benchmark |
|
(Multi) |
(1 Time) |
Treasury |
2NC3M |
-7 |
-5 |
On-The-Run 2Y |
2NC6M |
-1 |
0 |
On-The-Run 2Y |
2NC1 |
23 |
24 |
On-The-Run 2Y |
3NC3M |
-57 |
-56 |
Interp |
3NC6M |
-51 |
-50 |
Interp |
3NC1 |
-28 |
-26 |
Interp |
3NC2 |
35 |
39 |
Interp |
5NC3M |
-151 |
-149 |
On-The-Run 5Y |
5NC6M |
-145 |
-144 |
On-The-Run 5Y |
5NC1 |
-121 |
-120 |
On-The-Run 5Y |
5NC2 |
-60 |
-60 |
On-The-Run 5Y |
5NC3 |
5 |
5 |
On-The-Run 5Y |
7NC3M |
-227 |
-226 |
Interp |
7NC6M |
-221 |
-220 |
Interp |
7NC1 |
-197 |
-196 |
Interp |
7NC2 |
-136 |
-136 |
Interp |
7NC3 |
-71 |
-68 |
Interp |
10NC3M |
-286 |
-284 |
On-The-Run 10Y |
10NC6M |
-279 |
-278 |
On-The-Run 10Y |
10NC1 |
-256 |
-255 |
On-The-Run 10Y |
10NC2 |
-198 |
-195 |
On-The-Run 10Y |
10NC3 |
-135 |
-130 |
On-The-Run 10Y |
10NC5 |
-37 |
-34 |
On-The-Run 10Y |
Convertible Advances with Customized Strike3
Due to temporary technical issues with our web service, zeros may be posted in the absence of market data. In the meantime, please disregard the zero quotations for our Advances with Customized Strikes.
As of: 03/08/10
Structure2 |
6.0% |
6.5% |
7.0% |
7.5% |
Sprd to US Trsy |
5NC1 |
0 |
0 |
0 |
0 |
On-The-Run 5Y |
5NC2 |
0 |
0 |
0 |
0 |
On-The-Run 5Y |
7NC1 |
0 |
0 |
0 |
0 |
Interpolated 7Y |
10NC1 |
0 |
0 |
0 |
0 |
On-The-Run 10Y |
10NC2 |
0 |
0 |
0 |
0 |
On-The-Run 10Y |
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Size: Settlement:
Fixed Rate Payer: Payments: Daycount: Business Day Convention: Fees: Option Notification:
|
Minimum of $1mm Trade date through the end of the subsequent calendar month Member Bank Quarterly Act/360 Following business day None 4 NY business days
|
1 Convertible Repo Advance - Member pays fixed quarterly and sells FHLBNY the right to convert the advance on every call date beginning on the lockout date.
2 NC indicates non-convertible, i.e., 2NC3M is a 2 year advance that FHLBNY can convert after 3 months.
3 Convertible Repo Advance with Strike (CAS) - Member pays fixed quarterly and sells FHLBNY the right to convert the advance on every call date beginning on the lockout date, if and only if 3-month LIBOR is at, or above the Strike level.
NOTE: Structured Advances are instruments with embedded options. Users of options should have a thorough understanding of the products, including the circumstances under which options may have a negative impact on the user's financial performance. Before a customer may engage in such transactions with the Bank, a Product Disclosure and Customer Certification must be signed and the originals received by the Bank. (At the sole discretion of the Bank, transactions may be authorized with facsimile signatures provided an original executed hard copy is sent to the Bank.) These documents must be executed every two years. In addition, a Pre-Transaction Disclosure must be received and acknowledged by the member before each transaction.
Please click on the hyperlinks below for these disclosures (PDF).
Product Disclosure | Customer Certification