FHLBNY CICA Disaster Relief Funding Update

Since May 2020, the FHLBNY has been proud to issue approximately $650 million of at-cost, discounted advances to members for economic recovery efforts to support communities, households and small businesses across our District in response to the COVID-19 pandemic. On July 9, 2021, the FHLBNY will discontinue this offering related to the COVID-19 pandemic.

The FHLBNY will continue to offer Disaster Relief Funding discounted advances in other Federally declared, including FEMA-designated, disaster areas. FHLBNY members will continue to have access to discounted advances to fund eligible loans through the FHLBNY’s Community Investment Program (for housing-related efforts) and the Urban and Rural Development Advance programs (for economic development-related efforts).

Please contact your Relationship Managers at 212-441-6700 to learn more about these at-cost, discounted housing, economic development, or disaster relief advances.

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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.