New York, New York — The Federal Home Loan Bank of New York (“FHLBNY”) today released its unaudited financial highlights for the quarter and year ended December 31, 2025.
“As recent studies have found, access to Federal Home Loan Bank funding leads to increased local lending activity and broad financial stability,” said Randolph C. Snook, president and CEO of the FHLBNY. “Throughout 2025, reliable access to FHLBNY liquidity has supported our members as they make the loans that create new housing supply, support businesses small and large, and help households achieve the dream of homeownership. The impact of the daily availability of our funding was seen across 2025, as reflected in our results for the year.”
Highlights from 2025 include:
- The FHLBNY’s net income for 2025 was $599.8 million, a decrease of $138.7 million, or 18.8%, from net income of $738.5 million for 2024. Net interest income for the year was $851.8 million, a decrease of $135.0 million, or 13.7%, from $986.8 million in 2024. The decrease in net interest income was driven by a decrease of 85 basis points on yield on average earning assets and a decrease of $8.9 billion in average advances balances from the prior year period. Non-interest income decreased by $9.5 million, or 8.4%, to $103.1 million in 2025 compared with the prior year, due to a decrease in net unrealized fair value gains on derivatives and hedged items, including trading securities held for liquidity purposes. Non-interest expense increased by $9.3 million, or 3.3%, to $288.3 million in 2025 compared with the prior year.
- Return on average equity (“ROE”) for the year was 7.25% (annualized), compared to ROE of 8.49% for 2024.
- The FHLBNY allocated $66.7 million from its 2025 earnings for its Affordable Housing Program. The FHLBNY set aside an additional $48.3 million from the year’s earnings for voluntary contributions to affordable housing and community development initiatives.
- As of December 31, 2025, total assets were $156.5 billion, a decrease of $3.8 billion, or 2.4%, from total assets of $160.3 billion at December 31, 2024. As of December 31, 2025, advances (par amount) were $92.5 billion, a decrease of $14.0 billion, or 13.1%, from $106.5 billion at December 31, 2024.
- As of December 31, 2025, total capital was $8.0 billion, a decrease of $0.4 billion from total capital of $8.4 billion at December 31, 2024. The FHLBNY’s retained earnings increased by $0.1 billion to $2.6 billion as of December 31, 2025, of which $1.3 billion was unrestricted and $1.3 billion was restricted. At December 31, 2025, the FHLBNY was in compliance with its regulatory capital ratios and liquidity requirements.
Highlights from the fourth quarter of 2025 include:
- Net income for the quarter was $131.3 million, a decrease of $22.0 million, or 14.4%, from net income of $153.3 million for the fourth quarter of 2024. Net interest income for the quarter was $210.3 million, a decrease of $26.6 million, or 11.2%, from $236.9 million in the fourth quarter of 2024. The decrease in net interest income was driven by a decrease of 64 basis points on yield on average earning assets and a decrease of $13.0 billion in average advances balances from the prior year period. Non-interest income increased by $6.7 million, or 27.5%, to $31.1 million in the fourth quarter of 2025 compared with the prior year’s quarter, due to an increase in net unrealized fair value gains on derivatives and hedged items, including trading securities held for liquidity purposes. Non-interest expense increased by $4.7 million, or 5.2%, to $95.2 million in the fourth quarter of 2025.
- Return on average equity (“ROE”) for the quarter was 6.53% (annualized), compared to ROE of 6.80% for the fourth quarter of 2024.
| SELECTED BALANCE SHEET ITEMS (dollars in millions) | |||||
| December 31, | December 31, | ||||
| 2025 | 2024 | Change | |||
| Advances | $92,307 | $105,838 | $(13,531) | ||
| Mortgage loans held for portfolio | 2,644 | 2,345 | 299 | ||
| Mortgage-backed securities | 20,460 | 19,397 | 1,063 | ||
| Liquidity assets | 37,885 | 30,344 | 7,541 | ||
| Total assets | $156,545 | $160,300 | $(3,755) | ||
| Consolidated obligations | $144,486 | $148,411 | $(3,925) | ||
| Capital stock | 5,411 | 6,014 | (603) | ||
| Unrestricted retained earnings | 1,286 | 1,286 | - | ||
| Restricted retained earnings | 1,329 | 1,209 | 120 | ||
| Accumulated other comprehensive income (loss) | (11) | (100) | 89 | ||
| Total capital | $8,015 | $8,410 | $(395) | ||
| Capital-to-assets ratio (GAAP) | 5.12% | 5.25% | |||
| Capital-to-assets ratio (Regulatory) | 5.13% | 5.31% | |||
| OPERATING RESULTS (dollars in millions) | |||||||||||
| Quarter Ended December 31, | Year Ended December 31, | ||||||||||
| 2025 | 2024 | Change | 2025 | 2024 | Change | ||||||
| Total interest income | 1,621.9 | 2,002.6 | (380.7) | 7,189.5 | 8,918.6 | (1,729.1) | |||||
| Total interest expense | 1,411.6 | 1,765.7 | (354.1) | 6,337.7 | 7,931.8 | (1,594.1) | |||||
| Net interest income | 210.3 | 236.9 | (26.6) | 851.8 | 986.8 | (135.0) | |||||
| Provision (Reversal) for credit losses | 0.3 | 0.5 | (0.2) | 0.1 | (0.2) | 0.3 | |||||
| Net interest income after provision for credit losses | 210.0 | 236.4 | (26.4) | 851.7 | 987.0 | (135.3) | |||||
| Non-interest income (loss) | 31.1 | 24.4 | 6.7 | 103.1 | 112.6 | (9.5) | |||||
| Non-interest expense | 95.2 | 90.5 | 4.7 | 288.3 | 279.0 | 9.3 | |||||
| Affordable Housing Program assessments | 14.6 | 17.0 | (2.4) | 66.7 | 82.1 | (15.4) | |||||
| Net income | 131.3 | 153.3 | (22.0) | 599.8 | 738.5 | (138.7) | |||||
| Return on average equity | 6.53% | 6.80% | 7.25% | 8.49% | |||||||
| Return on average assets | 0.34% | 0.37% | 0.37% | 0.44% | |||||||
| Net interest margin | 0.55% | 0.58% | 0.53% | 0.59% | |||||||
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 December 31, 2025, the FHLBNY serves 339 member 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.