Putable Rate Information
The Putable Advance is a Fixed-Rate Advances where the FHLBNY retains the option to extinguish the Advance at specified times (either one-time or quarterly option). Since the member sells the FHLBNY the option to “put” back the Advance, Putable Advances are priced very attractively and may be a solution for members to lower their cost of funds.
Our Structured Advances will initially be limited to $5 billion with no per member limit; available on a first-come, first-served basis. At the FHLBNY’s sole discretion, structured advance parameters may potentially be adjusted based on market conditions.
If you are interested in our Putable Advance or would like more information, please contact your Relationship Manager at 212-441-6700 or the Member Services Desk at 212-441-6600.
Members can receive the daily rate indications via email. Members can also contact our Member Services Desk at 212-441-6600 for a live quote.
|Size:||Minimum of $1mm|
|Settlement:||Trade date through the end of the subsequent calendar month|
|Fixed Rate Payer:||Member|
|Business Day Convention:||Following business day|
|Option Notification:||4 NY business days|
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.)
In addition, a Structured Advance 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