News

The front page of our website states that the FHLBNY is “your key to reliable liquidity in any market environment”. It also states that “as long as markets remain open, and a member has pledged sufficient qualifying collateral and is willing to purchase the requisite amount of capital stock, the FHLBNY will always continue to lend to our members to help you meet your community’s needs.” These are not just marketing slogans -- this is also our mission and our purpose. And despite the challenging and volatile market environment we have experienced over the past several weeks, we have continued to meet our mission, and we prove our purpose every day. During the month of March, as our nation and the financial markets reacted to the Coronavirus pandemic, our advances grew by $41 billion to $134 billion, an increase of 44 percent, as members increasingly looked to us as a reliable source of liquidity amid a turbulent operating environment.

The FHLBNY continues to monitor the evolving situation regarding the Novel Coronavirus ("COVID-19"). In this current environment, we are focused on both the health and safety of our employees and our role as a reliable and critical source of liquidity for our members. As such, we have decided that, effective Monday, March 16, all non-critical staff will work remotely until further notice. We do not expect this operational posture to impair our ability to meet the needs of our members.

As we reported last month, your cooperative demonstrated strong performance throughout 2019, with $472.6 million in net income, our fourth-highest earnings ever. Our advances decreased slightly from 2018, but we still finished the year at a strong level, with $100 billion in liquidity flowing through communities across our District. At year-end, our total assets stood at $162.1 billion, and during the year we grew our retained earnings by $107 million, further bolstering our balance sheet. Throughout 2019, we made significant investments to enhance our technology capabilities and increase our ability to meet our members’ needs.

New York, NY – In response to the severe and extensive damage caused by a series of earthquakes that continue to impact Puerto Rico, the Federal Home Loan Bank of New York (“FHLBNY”) has provided $500,000 in donations to organizations leading relief efforts in the Commonwealth. In addition to the charitable contributions, the FHLBNY has $1 billion in disaster relief funding available to its members to help rebuild communities in FEMA-designated disaster areas in Puerto Rico.

New York, New York — The Federal Home Loan Bank of New York (“FHLBNY”) today released its unaudited financial highlights for the quarter and year ended December 31, 2019. The FHLBNY’s net income for 2019 was $472.6 million, a decrease of $87.9 million, or 15.7 percent, from net income of $560.5 million for 2018, primarily due to lower asset balances, less favorable funding conditions, lower spreads on advances due to the FHLBNY’s decision to reduce advances prices in 2019, and higher operating expenses driven by investments to enhance the FHLBNY’s technology capabilities....

The FHLBNY announced today that John R. Buran has been re-elected by its Board of Directors (Board) to serve as the Board’s chairman for a two-year term that will commence on January 1, 2020.

The FHLBNY is developing an all-new 1Link® portal. The migration to this new portal will happen in phases, starting with phase I of the transition on January 10, 2020.