Municipal Bonds are Now Eligible Collateral

The Federal Home Loan Bank of New York is pleased to announce that, effective October 26, 2023, we will accept Municipal Bonds with a real estate nexus that carry a minimum NRSRO rating of “AA- or above” or equivalent as eligible collateral from member institutions. Eligibility criteria can be found in the updated Member Products Guide* on pages 35-36, 40, and 44-45.

To determine if your Municipal Bonds are eligible to be pledged as collateral, please contact your Relationship Manager at (212) 441-6700 or refer to the Member Products Guide and instructions on the member pledge form.

The Pledge Form for Municipal Bonds can be found here. It is our hope that by accepting this type of collateral, we can increase borrowing capacity opportunities for our member institutions.

*The Member Products Guide can be found on 1Link® in the ‘Manuals and Guides’ section.

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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.