November 18, 2022
Contact: Brian Finnegan – (212) 441-6877
Larry E. Thompson Re-elected Vice Chairman
of the Federal Home Loan Bank of New York
New York, NY – The Federal Home Loan Bank of New York (FHLBNY) announced today that Larry E. Thompson has been re-elected by its Board of Directors (Board) to serve as the Board’s vice chairman for a two-year term commencing January 1, 2023. Mr. Thompson, who is the former vice chair of The Depository Trust & Clearing Corporation, has served on the FHLBNY’s Board as an Independent Director since January 1, 2014.
“The FHLBNY is a trusted partner to our region’s financial institutions and the communities we serve, and plays a pivotal role in the health of the local economy,” said Mr. Thompson. “Over my tenure on the Board, I have seen firsthand the positive impact the FHLBNY, and the Federal Home Loan Bank System, has made for so many. I am honored to continue to serve as the Board’s vice chair, and I look forward to continuing to work with my fellow Directors and the FHLBNY team to ensure our cooperative remains strong.”
“During his tenure on the Board, Larry’s significant contributions have helped build and strengthen our franchise, and we are grateful to have him continue in his role as vice chair,” said José R. González, president and CEO of the FHLBNY. “At the FHLBNY, we benefit from the experiences of and insights from an active and engaged Board comprised of dedicated and talented Directors.”
Mr. Thompson currently serves as the vice chair of the Board, a position he has held since January 1, 2018. He also serves as chair of the Board’s Risk Committee, as vice chair of the Board’s Executive Committee, and as a member of the Board’s Audit Committee and Corporate Governance and External Affairs Committee. Mr. Thompson currently chairs the Council of the Federal Home Loan Bank’s Subcommittee on Diversity & Inclusion, and serves as Secretary Treasurer of the Council.
Mr. Thompson is the former vice chair of The Depository Trust & Clearing Corporation (DTCC) and chair of the board of DTCC Deriv/SERV LLC. As vice chair, Mr. Thompson led DTCC’s public policy engagement with key regulators and lawmakers globally and served as a senior advisor to the firm. He was also a member of the DTCC Management Committee. Mr. Thompson began his legal career with The Depository Trust Company (DTC) as associate counsel in 1981. He was elected vice president and deputy general counsel in 1991, senior vice president in 1993, general counsel of DTC in 1999, managing director and first deputy general counsel of DTCC in 2004, and to general counsel in 2005. Previously, he was a partner in Lake, Bogan, Lenoir, Jones & Thompson. Mr. Thompson began his legal career at Davis Polk & Wardwell. He is a 2005 David Rockefeller Fellow and also former chair of the Securities Clearing Group and former co-chair of the Unified Clearing Group.
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, 2022, the FHLBNY serves 311 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.
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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.
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