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Credit Products

Putable Rate Information

Notice: The Putable Advance is temporarily suspended as a result of LIBOR cessation. The FHLBNY is no longer offering any structured products that are created using LIBOR-based hedges that mature beyond 2021. However, hedges using alternative indices are now being evaluated to create these products for our members. If you have interest in structured products, please contact your Relationship Manager at 212-441-6700​.

Members can receive the daily rate indications via email. Members can also contact our Credit Services Representatives at (212) 441-6600 for a live quote.

Putable Rates

Size: Minimum of $1mm
Settlement: Trade date through the end of the subsequent calendar month
Fixed Rate Payer: Member
Payments: Quarterly
Daycount: Act/360
Business Day Convention: Following business day
Fees: None
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.) 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

Key Contacts

Relationship Managers:
(212) 441-6700
[email protected]