FHLBNY Invests $225 Million To Support Affordable Housing Supply in New York City

New York, NY – The Federal Home Loan Bank of New York (“FHLBNY”) announced a $225 million investment in a New York City Housing Development Corporation (“HDC”) bond issuance that will help create, rehabilitate or preserve 6,320 units of affordable housing across an array of HDC’s housing programs.  The FHLBNY and the HDC partnered earlier in the year on a $150 million bond purchase in June 2025 in support of more than 2,250 homes across HDC programs.  Across a partnership that spans 25 years, the FHLBNY has invested a total of $1.66 billion in HDC bonds that have supported the creation or preservation of 70,000 homes, helping to ensure the long-term stability and affordability of existing public and affordable housing throughout New York City.

Report from the President: Giving Voice to the Silent Stabilizer

Earlier this year, the Federal Home Loan Bank System was described as “the silent stabilizer of the banking system”. This description captures us well: by executing on our foundational liquidity mission, the FHLBanks do play a stabilizing role in our country’s financial markets. And while we may be the silent stabilizer, a recent study by the Urban Institute – The Value of the FHLBank System to Bank Liquidity and Stability – speaks volumes.

Stephen S. Romaine Elected Vice Chair of FHLBNY

New York, NY – The Federal Home Loan Bank of New York (“FHLBNY”) announced today that Stephen S. Romaine has been elected by its Board of Directors (“Board”) to serve as Board vice chair for a two-year term that will commence on January 1, 2026.  Mr. Romaine, who is chair and CEO of Tompkins Community Bank, has served on the FHLBNY’s Board as a Member Director since January 1, 2019.  He currently serves as the chair of the Board’s Strategy & Business Committee and as a member of its Corporate Governance and External Affairs and Risk committees.