Bulletins

April 23, 2020

FHFA Provides Guidance on PPP Loans

On April 23, 2020, the Federal Housing Finance Agency (FHFA) issued a Supervisory Letter to the Federal Home Loan Banks providing guidance on the acceptance of Paycheck Protection Program (PPP) loans as collateral, subject to certain parameters. Specifically, this guidance requires that pledging members have a CAMELS rating of “3” or better, and also limits the amount an individual member can pledge to no more than 20 percent of its overall borrowing capacity. Additionally, no member can pledge more than $5 billion in PPP collateral.

The Supervisory Letter from the FHFA can be found here.

The FHLBNY has been actively monitoring this collateral type and believe that this regulatory clarity will assist in our assessment of its viability. We will continue to keep our members informed of any updates on this matter.

For more information, please contact your Relationship Manager at (212) 441-6700.

12/03/2021	Updates to the 2022 Fee Schedules
08/24/2021	Important Announcement for Community Lending Programs Users
07/28/2021	An Enhancement to our Callable Adjustable Rate Credit Advance (Callable ARC)
07/20/2021	RSA SecurID® for 1Link-IPR Coming Soon
07/14/2021	Important Announcement Regarding the Upcoming FHLBNY Homepage Update
07/02/2021	FHLBNY CICA Disaster Relief Funding Update
04/14/2021	Enhancements to the Refundable Municipal Letter of Credit for Members Participating in the New Jersey Department of Banking and Insurance GUDPA Program
03/01/2021	Notice of FHLB Members Selected For Community Review (Effective March 1, 2021)
02/10/2021	FHLBNY Capital Stock Purchase Requirement for Letters of Credit (Effective March 1, 2021)
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
06/01/2020	Enhancements to the Refundable MULOC Product
04/23/2020	FHFA Provides Guidance on PPP Loans
01/03/2020	1Link® Migration: Phase I - Interim Portal Roll-out
12/31/2019	2019 Update to MPG & CSM: Member Products Guide and the Correspondent Services Manual (for Jan 2020)
12/17/2019	1Link® Migration: Phase I – Interim Access Portal
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	SOFR ARC: FHLBNY is pleased to announce the expansion of the SOFR-Linked ARC Advance Program
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	Nominations for AHAC: The Federal Home Loan Bank of New York (FHLBNY) is now accepting nominations for the FHLBNY’s Affordable Housing Advisory Council.
10/09/2018	A New Housing Program: A new first-time homeowner grant program is coming in mid-2019.
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.
08/01/2017	FHLBNY Capital Plan Revisions: On August 1, 2017, revisions to the FHLBNY Capital Plan will become effective. RE: FHLBNY Capital Plan Revisions - Effective August 1, 2017
07/12/2017	Announcement Regarding Overnight Advance Processing: Members may now process their Overnight Advances by calling the Member Services Desk for the same low rate as processing this transaction on 1Link.
06/21/2017	Update to Member Products Guide & Correspondent Services Manual: The Federal Home Loan Bank of New York (FHLBNY) has updated its Member Products Guide and the Correspondent Services Manual.
05/31/2017	2016 Annual Report to Members: Our members drive our franchise. In this Annual Report, we have included testimonials from a diverse range of members, all of whom share their thoughts on the value and importance of their membership in our cooperative.
05/22/2017	A New Home for FHLBNY: The Federal Home Loan Bank of New York is pleased to inform you that our New York office has moved to a more modern and open space on the sixth and seventh floors of the 101 Park Avenue location.
05/11/2017	Affordable Housing Program 2017: The Federal Home Loan Bank of New York is pleased to announce that approximately $33.2 million in housing grants is available for the Affordable Housing Program 2017 Competitive Round.
04/03/2017	Affordable Housing Program 2017: The Federal Home Loan Bank of New York is pleased to announce that approximately $33.2 million in housing grants will be available for the upcoming Affordable Housing Program 2017 Competitive Round.
02/15/2017	FHLBNY Bulletin No. 027: The Federal Housing Finance Agency (“FHFA”) has issued a final rule amending its community support regulation, 12 CFR Part 1290
01/11/2017	FHLBNY Bulletin No. 026: To 1LinkSM and 1LinkSKSM Users
12/01/2016	FHLBNY Bulletin No. 025: Update to the 2017 Fee Schedules
05/31/2016	FHLBNY Bulletin No. 024: Updates to the 2016 Fee Schedules
04/06/2016	FHLBNY Bulletin No. 023: Announcing the New Symmetrical Prepayment Advance (SPA) Feature; Why Use a SPA Feature?; Available SPA Advance Structures
03/01/2016	FHLBNY Bulletin No. 022: Updates to the 2016 Fee Schedules
12/17/2015	FHLBNY Bulletin No. 021: The Federal Home Loan Bank of New York (FHLBNY) is pleased to announce an advance prepayment Rebate Program : FHLBNY Announces Rebate Program for Advances
09/29/2015	FHLBNY Bulletin No. 020: Putable Advance Modification Program has expanded: previously modified Putable Advances can now be re-modified : Update to the Putable Advance Modification Program
09/22/2015	FHLBNY Bulletin No. 019: The FHLBNY Will Accept Split-rated, Private Label Commercial Mortgage Backed Securities as Collateral to Secure All Extensions of Credit
04/27/2015	FHLBNY Bulletin No. 017: Update to the Member Products Guide & Correspondent Services Manual

Bulletins

FHFA Provides Guidance on PPP Loans

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