Bulletins

February 10, 2021

Update to the Member Products Guide & Correspondent Services Manual

The Federal Home Loan Bank of New York (“FHLBNY”) has updated its Member Products Guide (“Guide”) and the Correspondent Services Manual (“Manual”). The Guide and the Manual detail the FHLBNY’s credit, collateral and correspondent services standards and can assist you in finding helpful information on FHLBNY product and services matters (e.g. requirements for advance borrowings, eligible collateral types and service fee schedules).

Both documents can be found by signing on to 1Link®, the FHLBNY’s internet banking system, and clicking on the ‘Manuals and Guides’ tab. The Guide and Manual are updated as needed throughout the year.

Changes to the Guide effective as of 2/2021 include:

Updates to the language that define Large Member Borrowers and their corresponding credit limits, which replaces the section relating to “Members who are the principal operating banking subsidiary of Global Systemically Important Bank (page 8).

Clarification that the FHLBNY offers SOFR-Linked Advances (page 18).

Approval of Participation Certificates for Mortgage Loans Held in a Trust outlines specific requirements for pledging participation certificates for mortgage collateral held in a trust (page 41).

Confirmation that no Fee changes have been made for 2021 (Appendixes 1-3).

Remaining changes were conforming in nature.

Changes to the Manual effective as of 2/2021 include:

Updates to the accepted Signatures on the GAF (page 14).

Remaining changes were conforming in nature.

If you have any questions about the FHLBNY’s Manual or Guide, please contact your Relationship Manager at (212) 441-6700, or the Member Service Desk at 1-800-546-5101 (option 1).

Thank you for your support.

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02/22/2023	Notice of FHLB Members Selected For Community Review (Effective February 23, 2023)
01/20/2023	2023 Update to the Member Products Guide & Correspondent Services Manual
11/16/2022	Prepare for the 1Link Migration in December 2022
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09/23/2022	Reintroducing Putable Advances, Fixed-Rate Advances with SOFR Cap and ARC Advances with Cap/Floor
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06/24/2022	Amendment to the FHLBNY Capital Plan Appendix Effective August 1, 2022
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01/24/2022	FHLBNY Announces Enhancements to the Rebate Program for Advances
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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
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01/03/2020	1Link® Migration: Phase I - Interim Portal Roll-out
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Bulletins

Update to the Member Products Guide & Correspondent Services Manual

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