Bulletins

Bulletin 19

Update to Collateral Eligibility Requirements for All Member Financial Institutions

The Federal Home Loan Bank of New York (FHLBNY) is pleased to announce a change to our collateral eligibility requirements for all member financial institutions.

The FHLBNY will accept split-rated, private label commercial mortgage backed securities (PL CMBS) as collateral to secure all extensions of credit. Previously, the FHLBNY’s eligibility criteria for PL CMBS collateral required a minimum “AAA” rating across all nationally recognized statistical rating organizations (NRSROs).

Eligible split-rated PL CMBS must carry at least one “AAA” rating and a minimum rating of any form of “AA” (i.e., AA+/-). The FHLBNY acknowledges ratings from Fitch, Moody’s, Standard & Poors, DBRS, Morningstar and Kroll. Additionally, split-rated PL CMBS will be subject to a pipeline delinquency screen and must carry a readily ascertainable price.

If you would like more information on PL CMBS eligibility or to learn more about pledging these types of securities, please visit the collateral guide or contact a Relationship Manager at (212) 441-6700.

Latest News

03/13/2020

Report from the President: Novel Coronavirus Update

03/06/2020

$1 Billion in Disaster Relief Funding Available to FHLBNY Members

01/03/2020

1Link® Migration: Phase I - Interim Portal Roll-out

12/11/2019

A Review of Housing Statistics at the End of 2019

11/05/2019

Five Ways to Manage Your Balance Sheet in a Volatile Rate Environment