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Bulletins

July 14, 2017

RE: FHLBNY Capital Plan Revisions – Effective August 1, 2017

On August 1, 2017, the Federal Home Loan Bank of New York (“FHLBNY”) will reduce its Membership Stock Purchase Requirement (“MSPR”), thereby reducing the capital its members hold as owners of the cooperative.

As a member of the FHLBNY, you are required to purchase Membership Capital Stock (“MCS”), which has a par value of $100 per share and does not fluctuate with market conditions. Each year, the FHLBNY calculates your institution’s MSPR, which is currently set at the greater of $1,000 or 15 basis points of your Mortgage-related Assets using year-end financial statements.

Effective August 1, 2017, this requirement will be reduced to the greater of $1,000 or 12.5 basis points (from 15 basis points, a reduction of 17%) of your Mortgage-related Assets based on your year-end financial statements. As a result, your institution’s Overnight Investment Account will be credited with the proceeds of the MCS repurchase.

The FHLBNY’s Board and management team are continually striving to enhance the value of your membership. We believe this reduction in the MSPR is a simple and immediate way to add such value, and we have taken similar actions in the past (i.e., our August 1, 2014 reduction in the MSPR from 20 basis points to 15 basis points). Based on current projections, the upcoming reduction is expected to enable the FHLBNY to pay a higher dividend rate in future quarters while allowing us to remain well-capitalized. In accordance with the FHLBNY’s Strategic Plan, we will continue to look at our capital levels and the capital mix to help ensure that we are effectively managing members’ investment in the cooperative.

Your dividend payment will continue to be based on the combined daily average balance of total shares held (Membership Capital Stock plus Activity-Based Capital Stock). For those members with Activity-Based Capital Stock, purchase requirements with respect to such stock will not change.

A copy of the FHLBNY’s current Capital Plan is available here and on our Investor Relations page. If you have any questions about the Capital Plan or this reduction in the MSPR, please call Adam Goldstein at (212) 441-6703 or your Relationship Manager at (212) 441-6700.

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03/01/2021

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02/10/2021

2021 Update to MPG & CSM: Member Products Guide and the Correspondent Services Manual

12/03/2020

2020 Update to MPG & CSM: Member Products Guide and the Correspondent Services Manual

09/02/2020

Amendments to the FHLBNY Capital Plan (Effective October 2, 2020)

07/30/2020

FHLBNY CICA Disaster Relief Funding: Eligibility Expansion

05/15/2020

Update to the Member Products Guide

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Enhancements to the Refundable MULOC Product

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2019 Update to MPG & CSM: Member Products Guide and the Correspondent Services Manual (for Jan 2020)

12/17/2019

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11/06/2019

Announcing the Callable Adjustable Rate Credit Advance Pilot Program

09/27/2019

FHLBank System Regulator Provides LIBOR Transition Guidance

06/04/2019

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03/26/2019

Notice of Federal Home Loan Bank Members Selected For Community Review (March 26, 2019)

01/31/2019

Introducing the Homebuyer Dream Program: A New First-Time Homeowner Grant Program

01/24/2019

2019 Update to MPG & CSM: Member Products Guide and the Correspondent Services Manual

01/04/2019

Announcement of Fannie Mae and Freddie Mac Uniform Mortgage-Backed Security (UMBS)

11/28/2018

Updates to the 2019 Fee Schedules: In our continued effort to provide excellent service to our Members and maintain our focus on the core business of providing liquidity we are pleased to announce further streamlining of ancillary fees.

11/19/2018

The SOFR-Linked Adjustable Rate Credit Advance: The Federal Home Loan Bank of New York is pleased to announce the launch of the Secured Overnight Financing Rate (SOFR)-Linked Adjustable Rate Credit (ARC) Advance.

10/10/2018

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07/27/2018

D&I Status Report Highlights: In 2017, the FHLBNY made significant achievements in diversity and inclusion. These achievements are captured in our 2017 Diversity & Inclusion Status Report.

05/07/2018

AHP Proposed Rule: The FHFA has issued a Proposed Rule that calls for a number of changes to the AHP. We believe that many of these proposed changes will present significant challenges to our members, housing partners and other community stakeholders, and could impact how affordable housing is funded across our region.

04/20/2018

Member Products Guide & Correspondent Services Manual Update: The FHLBNY has updated its Member Products Guide and the Correspondent Services Manual. The Guide and Manual detail the FHLBNY’s credit, collateral and correspondent services standards and can assist members in finding helpful information on the FHLBNY's Business Lines.

04/05/2018

Affordable Housing Program 2018: The Federal Home Loan Bank of New York is pleased to announce that approximately $45 million in housing grants will be available for the Affordable Housing Program 2018 Competitive Round.

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