Price Incentives for Advances Executed Before Noon – Starting Tuesday, September 5, 2023

We are pleased to announce that beginning Tuesday, September 5, 2023, the Federal Home Loan Bank of New York (FHLBNY) will introduce price incentives for advances executed before Noon each business day. These pricing incentives offer an opportunity to provide economic value to our Members, while improving cash and liquidity management for the FHLBNY. The pricing incentives are as follows:

Non-Repo Advances (Whole Loan Collateral) – Trades Before Noon ET:

3 basis points reduction for Advances up to and including 3 months
2 basis points reduction for Advances over 3 months up to and including 6 months
1 basis point reduction for Advances over 6 months up to and including 1 year

Repo Advances (Investment Security Collateral) – Trades Before Noon ET:

1 basis point reduction for Advances from 2 days up to and including 1 year

Please note that all Forward Starting Advances, as well as Community Lending Program and Disaster Relief Funding Advances, are excluded from the pricing incentives.

Price incentives will be available for transactions completed through 1Link^® as well as with our Member Services Desk representatives. The price reduction will be given off the market rate at the time of the transaction completed before Noon ET. All transactions completed after Noon ET will not receive the price incentive.

The FHLBNY is continually seeking opportunities to provide additional value to our Members. The pricing incentives will be evaluated periodically, along with other value distribution opportunities for our Members. If you have any questions, please feel free to contact your Relationship Manager at 212-441-6700 or the Member Services Desk at 800-546-5101, option 1. As always, the FHLBNY stands ready to support our Members and provide liquidity in all market conditions. We value your membership and look forward to supporting our business relationship.

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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.