Select Page

Press Releases

December 21, 2020

Contact: Brian Finnegan – (212) 441-6877

Federal Home Loan Bank of New York
2021 Community Lending and Affordable Housing Plans

The Federal Home Loan Bank of New York (FHLBNY) is pleased to announce the publication of its 2021 Targeted Community Lending Plan and the Affordable Housing Program Implementation Plan. These two documents describe important improvements to the core Community Investment programs offered through the FHLBNY’s members for the year 2021, and both are now available on the FHLBNY’s website at

“Our Community Investment programs allow the FHLBNY to act on our housing mission and provide support to our members and housing partners as they meet the needs of the communities we all serve,” said José R. González, president and CEO of the FHLBNY. “The enhancements we have made to these programs for 2021 reflect feedback from these members and housing partners, and better position our cooperative to respond to our District’s needs.”

The FHLBNY’s Affordable Housing Program General Fund, through which the FHLBNY awarded $38.4 million to 47 rental and owner-occupied projects in 2020, will, as of January 1, 2021, be in full compliance with a new regulation issued by the Federal Housing Finance Agency. In part, this regulation provides the FHLBNY additional flexibility to define scoring criteria that reflect the District’s highest priority needs. One change of note is the introduction of a category to reward projects that have some degree of financial participation from an FHLBNY member. Project sponsors may begin consulting the new criteria to help them plan applications for the 2021 program round, and the FHLBNY will offer remote training opportunities beginning in February 2021.

The FHLBNY will also make updates to its Homebuyer Dream Program® (HDP), which supports members’ lending to low- and moderate-income first-time homebuyers. The maximum grant amount available under the HDP is now up to $10,000, which includes up to $500 to defray the cost of homeownership counseling. Additionally, the HDP will return to the previous practice of allocating program funds to participating members so they may identify borrowers most in need of down-payment and closing-cost assistance, in place of the first-come/first-served approach to reviewing households’ applications for grant funding utilized in the 2020 HDP round. The FHLBNY will provide additional details and training in the coming months.

Lastly, members will see a simplified approach to determining their borrowing capacity under the Community Lending Programs, through which they can take advances to fund their lending for affordable housing and community development. Each member may borrow these discounted advances up to the greater of $25 million or three percent of assets, to a maximum of $100 million, given program availability. The FHLBNY will issue a commitment of program funds to a member for a period of up to 90 days.

Subject to developing circumstances, members will continue to have access to the Disaster Relief Funding advances, which were made available in response to the ongoing COVID-19 pandemic. Members are encouraged to contact their Relationship Manager to discuss their borrowing capacity and further program rules and requirements.

To learn more about these important updates, please register to attend the FHLBNY’s Community Investment webinar, which will be held on Tuesday, January 19, 2021 at 11:00 a.m. ET.


About the Federal Home Loan Bank of New York
The Federal Home Loan Bank of New York is a Congressionally chartered, wholesale Bank. It is part of the Federal Home Loan Bank System, a national wholesale banking network of 11 regional, stockholder-owned banks. As of September 30, 2020, the FHLBNY serves 321 financial institutions in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. The Federal Home Loan Banks support the efforts of local members to help provide financing for America’s homebuyers.

# # #

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 on 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, the Risk Factors set forth in our Annual Reports on Form 10-K and our Quarterly Reports on Form 10-Q filed with the SEC, as well as 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. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to revise or update publicly any forward-looking statements for any reason.


FHLBNY Has Made $120 Million In Affordable Housing And Community Development Support Available Through First Four Months of 2024


FHLBNY Announces First Quarter 2024 Operating Highlights


FHLBNY Announces Fourth Quarter and Full-Year 2023 Operating Highlights


FHLBNY Announces Results of 2023 Board of Director Elections


Larry E. Thompson Elected Chair of the FHLBNY


FHLBNY Announces Third Quarter 2023 Operating Highlights


FHLBNY Awards $42 Million For 42 Affordable Housing Initiatives


FHLBNY Announces Second Quarter 2023 Operating Highlights


FHLBNY Announces First Quarter 2023 Operating Highlights


FHLBNY Announces Fourth Quarter and Full-Year 2022 Operating Highlights


FHLBNY Announces Results of 2022 Board of Director Elections


FHLBNY Awards $25.3 Million For 30 Affordable Housing Initiatives


Larry E. Thompson Re-Elected Vice Chair of The FHLBNY (2022 Election)


FHLBNY Announces Third Quarter 2022 Operating Highlights


FHLBNY Announces Second Quarter 2022 Operating Highlights


FHLBNY Announces First Quarter 2022 Operating Highlights


FHLBNY Announces Fourth Quarter and Full-Year 2021 Operating Highlights


FHLBNY Awards $34.3 Million For 46 Affordable Housing Initiatives


FHLBNY Announces Results of 2021 Board of Director Elections


John R. Buran Re-Elected Chairman Of The FHLBNY (2021 Election)


FHLBNY Announces Third Quarter 2021 Operating Highlights


FHLBNY Announces Second Quarter 2021 Operating Highlights


FHLBNY Commences 2021 Board Of Directors Election Process


FHLBNY Announces First Quarter 2021 Operating Highlights


FHLBNY Announces Fourth Quarter and Full-Year 2020 Operating Highlights


FHLBNY 2021 Community Lending and Affordable Housing Plans


Larry E. Thompson Re-Elected Vice Chairman of the FHLBNY (2020)


FHLBNY Awards $36.9 Million for 46 Affordable Housing Initiatives


FHLBNY Announces Results of 2020 Board of Director Elections


FHLBNY Announces Third Quarter 2020 Operating Highlights


FHLBNY Announces Second Quarter 2020 Operating Highlights


FHLBNY Commences 2020 Board Of Directors Election Process


Announcing COVID-19 Relief Program


FHLBNY Announces First Quarter 2020 Operating Highlights


$1 Billion in Disaster Relief Funding Available to FHLBNY Members


FHLBNY Announces Fourth Quarter and Full-Year 2019 Operating Highlights


John R. Buran Re-elected Chairman of FHLBNY


FHLBNY Announces Results of 2019 Board of Director Elections


FHLBNY Announces Third Quarter 2019 Operating Highlights


FHLBNY Awards $45.8 Million for 45 Affordable Housing Initiatives


FHLBNY Commences 2019 Board of Directors Election Process


FHLBNY Announces Second Quarter 2019 Operating Highlights


FHLBNY Announces Fourth Quarter and Full-Year 2018 Operating Highlights


FHLBNY Announces First Quarter 2019 Operating Highlights


FHLBNY Announces 50th Round of Affordable Housing Program and Modernized First-Time Homebuyer Program

No post

Latest News


FHLBNY Has Made $120 Million In Affordable Housing And Community Development Support Available Through First Four Months of 2024


Update to Forward Starting Advances


FHLBNY Announces First Quarter 2024 Operating Highlights


An Enhancement to our Callable Adjustable Rate Credit Advance (Callable ARC)


Update to the Member Products Guide