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President’s Report

February 1, 2022

Report from the President
Enhancing the Value of Membership

On January 24, we announced enhancements to our Advance Rebate Program, which provides members with the opportunity to receive a cash rebate when prepaying an eligible advance and rebooking a new advance within a 30-day period. These Program improvements include expanding the advances eligible for the rebate, and increasing the rebate amount.

We first developed our Advance Rebate Program to be responsive to member needs and enhance the value of our advance offerings. These updates build on that value, creating additional flexibility for members to extend the maturity of existing advances to support your balance sheet management strategies.

The Advance Rebate Program enhancements reflect our organization-wide focus on building member value. This also includes constantly improving the user experience whenever and however members interact with our cooperative. Later this month, we plan to launch our new Affordable Housing Program (“AHP”) System, an online portal for our AHP General Fund and a key part of our continued effort to strengthen our online capabilities to better serve our members and housing partners. The new portal will streamline the submission of applications and other documentation requests, while also providing participants with a centralized location to view their entire project portfolio. The annual awarding of AHP grants is one of the most important actions our cooperative takes every year, and these enhancements will go a long way to further strengthen this vital source of funding for affordable housing initiatives across our District.

Our Focus, Your Strategic Advantage

We deliver value not only through our products and programs, but by ensuring that our members know how best to utilize these offerings to position themselves for growth and success. This focus is central to our commitment to being a strategic partner to our members. We always look to identify opportunities to discuss our offerings and provide insights on the operating environment with our members. Over the past two years, these opportunities have been primarily virtual, through podcasts, webinars and videoconferences. This continues on February 3 with our 2022 Investment Outlook webinar, featuring Kristina Hooper, Chief Global Marketing Strategist for Invesco.

As we move further into 2022, our team is excited to get back on the road, bringing our education programs out to members and welcoming your teams into our offices. All of our educational sessions are carefully curated and tailored to each member to help our team access the benefits of FHLBNY membership to achieve your business objectives. To schedule your own session, please contact your Relationship Manager at (212) 441-6700.

Growing Our Cooperative

In 2021, we added 11 new members to our cooperative. These newest members reflect the diversity of the institutions we serve, bringing five credit unions, a commercial bank and a Community Development Financial Institution – representing wide-ranging asset sizes and types, business missions, and customer bases – into our cooperative this month. Our diverse membership base is one of the great strengths of our cooperative, enabling the funding we provide to reach into nearly every community across our region. As we look to continue to grow our cooperative in 2022, we are bolstered by a steadily increasing advance book, which reflects both the continued attractiveness of our funding and our unwavering ability to meet our members’ needs.

FHLBNY Welcomes New Directors

Later this month, when our Board of Directors holds its first set of meetings of 2022, it will do so with three new Directors: Thomas R. Cangemi, chairman, president and CEO of New York Community Bank; Gerald L. Reeves, president, CEO, and Director of Sturdy Savings Bank; and Josie J. Thomas, a former senior executive at ViacomCBS. On January 28, our management team held our standard New Director Orientation session for the Board’s newest members to provide an overview of the Board’s key role in our cooperative, our reliable funding products and programs we offer our members, the support we provide to our communities, and the dedicated team across the FHLBNY that makes it all possible.

We look forward to the contributions that Directors Cangemi, Reeves, and Thomas will make to our Board and our cooperative in their new roles. And, as always, our entire team looks forward to working together to ensure that the FHLBNY continues to serve as a stable source of liquidity and a reliable partner for our members and communities throughout 2022.

Sincerely,

Sincerely,

José R. González
President and Chief Executive Officer

# # #

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
This report may contain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. These statements may use forward-looking terms, such as “projected,” “expects,” “may,” or their negatives or other variations of these terms. The Bank cautions that, by their nature, forward-looking statements involve risk or uncertainty and that actual results could differ materially from those expressed or implied in these forward-looking statements or could affect the extent to which a particular objective, projection, estimate, or prediction is realized. These forward-looking statements involve risks and uncertainties including, but not limited to, regulatory and accounting rule adjustments or requirements, changes in interest rates, changes in projected business volumes, changes in prepayment speeds on mortgage assets, the cost of our funding, changes in our membership profile, the withdrawal of one or more large members, competitive pressures, shifts in demand for our products, and general economic conditions. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.

Prior releases can be found on the SEC’s EDGAR System.

09/01/2022

Report from the President: The Voice of the Local Lender

08/18/2022

Dividend Announcement 2Q22: The FHLBNY Declares a 5.50% Dividend for the Second Quarter of 2022

08/02/2022

Report from the President: Looking Ahead to 100 Years of the Federal Home Loan Banks

07/05/2022

Report from the President: Federal Home Loan Bank System Turns 90

06/02/2022

Report from the President: Approaching 90, the Power of Partnership Prevails

05/12/2022

Dividend Announcement 1Q22: The FHLBNY Declares a 4.75% Dividend for the First Quarter of 2022

04/05/2022

Report from the President: FHLBNY Files 2021 Form 10-K – Stability Throughout the Year

03/03/2022

Report from the President: Closing the Books on 2021

02/17/2022

Dividend Announcement 4Q21: The FHLBNY Declares a 4.36% Dividend for the Fourth Quarter of 2021

02/01/2022

Report from the President: Enhancing the Value of Membership

01/06/2022

Report from the President: A Strategic Focus on Stability and Service

12/07/2021

Report from the President: Together Again

11/18/2021

Dividend Announcement 3Q21: The FHLBNY Declares a 4.40% Dividend for the Third Quarter of 2021

11/02/2021

Report from the President: FHLBNY Announces 3Q21 Operating Highlights

10/04/2021

Report from the President: An Unwavering Focus on Our Members and Supporting Our Communities

09/01/2021

Report from the President: 25 Years of Creating Homeownership Opportunities

08/19/2021

Dividend Announcement 2Q21: The FHLBNY Declares a 4.60% Dividend for the Second Quarter of 2021

07/01/2021

Report from the President: FHLBNY Commences 2021 Director Election Process

06/07/2021

Report from the President: A Stable Partner for the Recovery Ahead

05/28/2021

Dividend Announcement 1Q21: The FHLBNY Declares a 4.75% Dividend for the First Quarter of 2021

04/05/2021

Report from the President: FHLBNY Files 2020 Form 10-K – Stability Throughout the Year

03/02/2021

Report from the President: Meeting Member Needs

02/18/2021

Dividend Announcement 4Q20: The FHLBNY Declares a 5.00% Dividend for the Fourth Quarter of 2020

02/04/2021

Report from the President: FHLBNY Unveils SOFR-Linked ARC Advance Enhancement

01/05/2021

Report from the President: A Proven Partnership to Help a Region Recover

12/02/2020

Report from the President: A Steady Foundation

11/19/2020

Dividend Announcement 3Q20: The FHLBNY Declares a 5.10% Dividend for the Third Quarter of 2020

11/02/2020

Report from the President: FHLBNY Announces 3Q20 Operating Highlights

10/05/2020

Report from the President: A Stable Partner and a Strong Culture

09/03/2020

Report from the President: A Stable Foundation

08/20/2020

Dividend Announcement 2Q20: The FHLBNY Declares A 5.60% Dividend For The Second Quarter Of 2020

08/04/2020

Report from the President: FHLBNY Announces 2Q20 Operating Highlights

07/02/2020

Report from the President: A Vital Conversation

06/02/2020

Report from the President: A Balanced Provider and a Stable Partner

05/20/2020

Dividend Announcement 1Q20: The FHLBNY Declares a 5.90% Dividend for the First Quarter of 2020

05/07/2020

Report from the President: FHLBNY to Accept Paycheck Protection Program Loans as Eligible Collateral

04/01/2020

Report from the President: Stability in a Crisis - Our Cooperative Responds to the Pandemic

03/13/2020

Report from the President: Novel Coronavirus Update

03/09/2020

Report from the President: Closing the Books on a Strong 2019

02/20/2020

Dividend Announcement 4Q19: The FHLBNY Declares a 6.35% Dividend for the Fourth Quarter of 2019

02/04/2020

Report from the President: United by Our Mission

01/06/2020

Report from the President: A Reliable Partner for a New Decade

12/03/2019

Report from the President: Positioned to Meet Your Liquidity Needs

11/21/2019

Report from the President: The FHLBNY Declares a 6.35% Dividend for the 3Q19

10/15/2019

Report from the President: The FHLBNY Announces 2019 Affordable Housing Program Grants

09/05/2019

Report from the President: A Market Milestone

05/16/2019

Dividend Announcement 1Q19: The FHLBNY Declares a 6.35% Dividend for the First Quarter of 2019

06/03/2019

Report from the President: Jersey City Welcomes FHLBNY Board; 2019 FHLBNY Director Election Update

07/02/2019

Report from the President: A New Era of Creating Homeownership Opportunities; FHLBNY Commences 2019 Director Election Process

08/15/2019

Dividend Announcement 2Q19: The FHLBNY Declares a 6.35% Dividend for the Second Quarter of 2019

03/04/2019

Report from the President: A Year of Strong Performance; FHLBNY Announces Fourth Quarter 2018 Dividend; 50th Round of Affordable Housing Program Opens

02/13/2019

Dividend Announcement 4Q18: The FHLBNY Declares a 6.90% Dividend for the Fourth Quarter of 2018

02/04/2019

Report from the President: Engaging Members, Enhancing Value

04/02/2019

Report from the President: Reflecting on a Record Year for the Federal Home Loan Bank System; FHLBNY 2019 Member Symposium

01/03/2019

Report from the President: A Strong Year, A Strategy for Success

01/16/2018

Member Advantage: A Strong Partner in the New Year

12/03/2018

Report from the President: Developing a Market for Our Members; A Record Round; FHLBNY Board Update

11/15/2018

Dividend Announcement 3Q18: The FHLBNY Declares a 6.90% Dividend for the Third Quarter of 2018

10/09/2018

Report from the President: A Proven Partner; Balance Sheet Support; Board Election Update

09/05/2018

Report from the President: A Critical Role; Strong Performance, Positioned to Help

08/16/2018

Dividend Announcement 2Q18: The FHLBNY Declares a 6.75% Dividend for the Second Quarter of 2018

05/24/2018

Dividend Announcement 1Q18: The FHLBNY Declares a 6.50% Dividend for the First Quarter of 2018

04/24/2018

Member Advantage: Disaster Relief Program Grants Introduced

03/02/2018

Report from the President: Closing the Chapter on a Record 2017; FHLBNY Announces Fourth Quarter 2017 Dividend; FHLBNY Increases 2017 AHP Round Awards

02/15/2018

Dividend Announcement 4Q17: The FHLBNY Declares a 6.50% Dividend for the Fourth Quarter of 2017;

02/01/2018

Report from the President: Leading Our Franchise Forward; A Record 2017; NJBankers Economic Leadership Forum

07/30/2018

Member Advantage: Looking Back While Looking Forward

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