Due to the overwhelming member response to our 0% Development Advance (ZDA) Program1, the Federal Home Loan Bank of New York (FHLBNY) is pleased to announce that an additional $2.8 million in funding has been added to the Program. ZDA Program funding is available on a first-come, first-served basis. Application approvals are not a guarantee of funding; the advance(s) must be drawn.
Please contact the Member Services Desk for the latest funding availability at (800) 546-5101, option 1. For more information, visit the ZDA Program page to review program guidelines, terms and qualifying criteria, or to learn more about how the ZDA Program can benefit your institution.
1Advances under the ZDA Program are transacted in the same manner as traditional Advances, in adherence with all credit, collateral, and capital stock requirements and are subject to lending parameters under the new Credit Risk Management Framework.