October 26, 2023
Municipal Bonds are Now Eligible Collateral
The Federal Home Loan Bank of New York is pleased to announce that, effective October 26, 2023, we will accept Municipal Bonds with a real estate nexus that carry a minimum NRSRO rating of “AA- or above” or equivalent as eligible collateral from member institutions. Eligibility criteria can be found in the updated Member Products Guide* on pages 35-36, 40, and 44-45.
To determine if your Municipal Bonds are eligible to be pledged as collateral, please contact your Relationship Manager at (212) 441-6700 or refer to the Member Products Guide and instructions on the member pledge form.
The Pledge Form for Municipal Bonds can be found here. It is our hope that by accepting this type of collateral, we can increase borrowing capacity opportunities for our member institutions.
*The Member Products Guide can be found on 1Link® in the ‘Manuals and Guides’ section.
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