Notice of FHLB Members Selected For Community Review (Effective March 1, 2021)

The Federal Housing Finance Agency (“FHFA”) has issued a final rule amending its community support regulation, 12 CFR Part 1290. This regulation requires that Federal Home Loan Bank members meet certain standards of community investment or service to maintain continued access to long-term (greater than one year) advances from the Federal Home Loan Banks. In accordance with the recently revised regulation, the FHFA will continue to require a Community Support Statement from each member subject to a community support review at the same time, every two years. For the 2021 review period, the FHFA has established October 29, 2021, as the date by which each member subject to community support review must submit a completed Community Support Statement; this is a change from the December 31 submission deadline under the previous regulation.

View the list of Federal Home Loan Bank of New York members required to submit a Community Support Statement form to the FHFA by October 29, 2021. At the request of the FHFA, if you have any comments, both positive and/or critical, on the performance of any of these members in meeting the credit needs of their communities, please send your comments directly to the FHFA, by electronic mail to hmgcommunitysupportprogram@fhfa.gov by March 31, 2021.

If you have any questions on this matter please contact our Community Investment Department at CommunitySupportProgram@fhlbny.com.

Thank you for your commitment to promoting affordable housing opportunities within your community.

Daniel Randall

Community Investment Officer
Federal Home Loan Bank of New York

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