FHLBNY Advance Rebate Program
Under the Advance Rebate Program, which represents an enhancement to our current advance prepayment methodology, the FHLBNY will provide members with a cash rebate on a portion of the fees paid relating to the early extinguishment of eligible advances when new eligible advances are obtained within 30 calendar days1. To receive the cash rebate, the prepaid advance(s) must have a remaining term of one year or longer, and new advance(s) must have a term of six months or longer.
The Advance Rebate Program is designed to:
be responsive to member needs and enhance the value of our advance offerings
offer members additional flexibility with balance sheet management
strengthen and add value to your Co-op
The amount of the actual rebate is dependent upon the characteristics of the prepaid and new advance(s), e.g., product type, origination date, principal amounts, and duration. Regular advance terms and conditions will apply, and the FHLBNY reserves the right in its sole discretion to amend, rescind, or reinstate the Advance Rebate Program at any time.
|How it works:|
Member prepays an outstanding eligible advance that has a term remaining to maturity of at least one year.
Member decides to obtain a new eligible advance with a term of six months or greater within 30 days for prepayment (called the Rebate Window).
Member receives the rebate in cash.
For more information on the Advance Rebate Program, including eligibility requirements, please contact your Relationship Manager at (212) 441-6700, Member Services Desk at (212) 441-6600, or [email protected].
1Advances booked under Community Lending Programs and advances with remaining maturities of less than one year are not eligible advances.
Disclaimer: Notwithstanding any language to the contrary, nothing contained in these disclosures is intended to constitute an offer, inducement, promise, or contract of any kind. Any product descriptions and pricing may be subject to change without notice.
The content provided in these disclosures is presented as a courtesy to be used only for informational purposes and is not represented to be error free. The FHLBNY makes no representations or warranties of any kind with respect to the content contained herein, such representations and warranties being expressly disclaimed. The FHLBNY is not a financial or investment advisor.
Moreover, the FHLBNY does not represent or warrant that the content of these disclosures is accurate, complete or current for any specific or particular purpose or application. It is not intended to provide nor should anyone consider that it provides legal, accounting, tax or other advice. Such advice should only be rendered in reference to the particular facts and circumstances appropriate to each situation. The FHLBNY encourages you to contact appropriate professional(s) and consultant(s) to assess your specific needs and circumstances and to render such advice accordingly. In addition, the FHLBNY is not endorsing or recommending the use of the means or methods contained in or through these disclosures for any special or particular purpose.
It is solely your responsibility to evaluate the risks or merits of any funding or investment strategy. In no event will FHLBNY or any of its officers, directors or employees be liable for any damages — whether direct, indirect, special, general, consequential, for alleged lost profits, or otherwise – that might result from any use of or reliance on these materials.