Over the course of our 93-year history, the Federal Home Loan Bank System has changed in many ways, from the expansion of our membership to the creation of additional ways to support housing, including the Affordable Housing Program (AHP) and our Mortgage Asset Program (MAP®). But all of this growth and change is built upon and stems from our unwavering commitment to our foundational liquidity mission.
Our foundational mission is to provide a stable source of funding for our members – the local lenders that utilize this consistent access to our liquidity to bolster their ability to make the loans that support small businesses, drive job growth, open the doors to homeownership and strengthen the communities they serve.
I am pleased to announce that, on August 21, 2025, our Board of Directors approved a dividend for the second quarter of 2025 of 7.60% (annualized). The dividend proceeds will be distributed to FHLBNY member financial institutions on August 22, 2025.
New York, NY – The Federal Home Loan Bank of New York (“FHLBNY”) announced today that Christopher Martin has been elected by its Board of Directors (“Board”) to serve as Board chair for a two-year term that will commence on January 1, 2026. Mr. Martin, who is executive chairman of Provident Financial Services, Inc. and Provident Bank, has served on the FHLBNY’s Board as a Member Director since January 1, 2015. He currently serves as the chair of the Board’s Corporate Governance and External Affairs Committee and as a member of its Executive, Compensation & Human Resources, and Strategy and Business committees.
New York, NY –The Federal Home Loan Bank of New York (“FHLBNY”) has launched the 2025 Round of its Small Business Recovery Grant (“SBRG”) Program with $5 million in grant funding available to local small businesses, farms and non-profits through the FHLBNY’s members. “Small businesses are not only part of the fabric of the communities they serve, but essential to economic growth at the local level,” said Randolph C. Snook, president and CEO of the FHLBNY. “Our Small Business Recovery Grant Program positions the FHLBNY to join with our members to provide critical support that keeps these institutions thriving and driving their communities forward.”
New York, NY – Randolph C. Snook, president and CEO of the Federal Home Loan Bank of New York (“FHLBNY”), announced that the FHLBNY has awarded a record $86.3 million in subsidies to fund a record 75 affordable housing initiatives throughout New Jersey, New York, Puerto Rico, California, Delaware, Maine, Pennsylvania and Texas. These awards are funded through the FHLBNY’s Affordable Housing Program (“AHP”), and will result in the creation, rehabilitation or preservation of a record 4,976 units, including 3,628 units dedicated to very low-income housing, 4,637 units of rental housing and 339 homeownership opportunities. The awards will not only help provide housing, but also drive community development: it is anticipated that nearly $2.2 billion in housing investments will result from the development of these initiatives.
Effective November 3, 2025, if a default occurs and a LOC draw certificate is submitted, the FHLBNY will disburse payment no later than the close of business on the next business day following its receipt of the draw certificate. Previously, payments were made the same day if the LOC draw certificate was submitted before 11:00 a.m.; otherwise, payment was processed the next business day. This modification only applies to LOCs issued on or after November 3, 2025.
The Federal Home Loan Bank of New York (FHLBNY) is updating the tenor maximum for CLP advances. Previously, the CLP advance tenors were restricted to one (1) to five (5) years. Effective September 2, 2025, CLP advances will now have a maximum tenor of ten (10) years. There is no change to the CLP tenor minimum.
The Federal Home Loan Bank of New York (“FHLBNY”) has updated its Member Products Guide (“Guide”). The Guide details the FHLBNY’s credit, collateral and correspondent services standards and can assist you in finding helpful information on the FHLBNY’s product and service matters (e.g., requirements for advance borrowings, eligible collateral types and service fee schedules).
