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October 5, 2023

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 Manual detail the FHLBNY’s credit, collateral and correspondent services standards and can assist you in finding helpful information on the FHLBNY’s product and service matters (e.g., requirements for advance borrowings, eligible collateral types and service fee schedules).

Both documents can be found on 1Link® in the ‘Manuals and Guides’ section. These documents are updated as needed throughout the year.

Changes to the Guide effective as of October 2023 include:

  • Summary of Max Lendable Values table reflect recent margin adjustments as follows:
    • Residential 1st lien loan maximum lendable values declined to 88% of market value for Insured Depository institutions (from 90%) and 76% of market value for Insurance Companies and Non-Depository CDFIs (from 82%).
    • Multifamily 1st lien loan maximum lendable values declined to 77% of market value for Insurance Companies (from 80%) and 74% of market value for Non-Depository CDFIs (from 75%).
    • For Insurance Companies:
      • U.S. Treasury Notes maximum lendable value declined to 95% of market value (from 96%).
      • U.S. Treasury Bonds maximum lendable value declined to 85% of market value (from 88%).
      • U.S. Feline/U.S. Treasury Strips maximum lendable value declined to 81% of market value (from 85%).
      • Agency Notes, Bonds maximum lendable value declined to 91% of market value (from 93%).
      • Agency CMO, Pools, and Guaranteed CRTs maximum lendable value declined to 92% of market value (from 93%) (all-inclusive on page 43).

The Manual was reviewed, and any changes contained within are considered conforming in nature. In addition, both documents have been updated with a new look.

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

Thank you for your support.

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Additional funding has been added to the 0% Development Advance (ZDA) Program

08/30/2024

2024 Update to the Member Products Guide

07/22/2024

The 2024 Small Business Recovery Grant Program

06/03/2024

FHLBNY Affordable Housing Advisory Council Open Nomination Period – For 2025 Service

04/30/2024

Update to Forward Starting Advances

03/21/2024

2024 Update to the Member Products Guide (March 2024)

01/25/2024

2024 Update to the Member Products Guide & Correspondent Services Manual

01/02/2024

Introducing HDP® Plus from the FHLBNY

10/30/2023

Coming Soon: The 2023 Small Business Recovery Grant Program

10/26/2023

Municipal Bonds are Now Eligible Collateral

10/17/2023

2023 FHLBNY Board Elections Are Underway

10/05/2023

Update to the Member Products Guide & Correspondent Services Manual

09/11/2023

Introducing a New URL to Access Your FHLBNY Systems

08/23/2023

Price Incentives for Advances Executed Before Noon - Starting Tuesday, September 5, 2023

07/05/2023

FHLBNY Affordable Housing Advisory Council Open Nomination Period – For 2024 Service

06/30/2023

2023 Update to the Member Products Guide

06/05/2023

Coming Soon: Expansion of Our 0% Advance Offerings

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

09/28/2022

2022 Update to MPG & CSM: Member Products Guide & Correspondent Services Manual

09/23/2022

Reintroducing Putable Advances, Fixed-Rate Advances with SOFR Cap and ARC Advances with Cap/Floor

07/05/2022

FHLBNY Affordable Housing Advisory Council Open Nomination Period

06/24/2022

Amendment to the FHLBNY Capital Plan Appendix Effective August 1, 2022

04/07/2022

Wire Transfers Migration to 1Link-IPR

01/24/2022

FHLBNY Announces Enhancements to the Rebate Program for Advances

01/03/2022

2022 Update to MPG & CSM: Member Products Guide and the Correspondent Services Manual

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

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

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