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July 2, 2021

FHLBNY CICA Disaster Relief Funding Update

Since May 2020, the FHLBNY has been proud to issue approximately $650 million of at-cost, discounted advances to members for economic recovery efforts to support communities, households and small businesses across our District in response to the COVID-19 pandemic. On July 9, 2021, the FHLBNY will discontinue this offering related to the COVID-19 pandemic.

The FHLBNY will continue to offer Disaster Relief Funding discounted advances in other Federally declared, including FEMA-designated, disaster areas. FHLBNY members will continue to have access to discounted advances to fund eligible loans through the FHLBNY’s Community Investment Program (for housing-related efforts) and the Urban and Rural Development Advance programs (for economic development-related efforts).

Please contact your Relationship Managers at 212-441-6700 to learn more about these at-cost, discounted housing, economic development, or disaster relief advances.