UPDATE: On March 16, 2020, the FHFA extended to June 30, 2020 the FHLBanks’ ability to enter into LIBOR-based instruments that mature after December 31, 2021, except for investments and option embedded products.
The Great Transition: LIBOR-SOFR,
Episodes 5 and 6
The Federal Home Loan Bank of New York is pleased to present the final episodes in our new podcast series, “The Great Transition: LIBOR-SOFR.”
In episode 5, “It’s Not Just Your Balance Sheet,” Thomas Settino, FHLBNY Vice President and Director of Member Relations, and Rei Shinozuka, Head of the Benchmark Index Transition Office at the FHLBNY, focus on London Interbank Offered Rate (LIBOR) as a benchmark for relative value, a Hedge Accounting Index, and LIBOR’s other uses outside of a floating-rate asset index.
In episode 6, “They’re From the Government and They’re Here to Help,” Rei and Thomas highlight steps our regulators are taking to facilitate action and create regulatory relief for the transition from LIBOR to the Secured Overnight Funding Rate (SOFR).
Thank you for tuning in to “The Great Transition: LIBOR-SOFR” podcast series! If you enjoyed this content and would like to leave feedback, we invite you to email [email protected] or take part in our survey below.
VP, Director of Member Relations
Thomas R. Settino is Vice President and Director of Member Relations at the FHLBNY. He is responsible for managing a team of Relationship Managers who provide product support to banks and credit unions located throughout the FHLBNY district, which includes New York, New Jersey, Puerto Rico, and the U.S. Virgin Islands. Tom has been with the FHLBNY since January 2011. Tom’s experience includes a long tenure working in the Banking Supervision Group at the Federal Reserve Bank of New York. Tom was also employed at the United States Trust Company of New York where he worked as VP of Treasury Services in charge of Cash Management and Asset/Liability Management. Tom earned his undergraduate degree from Manhattan College in New York City and also earned his MBA at Pace University in New York City.
Head of the Benchmark Index Transition Office
Rei Shinozuka is the Head of the Benchmark Index Transition Office at the Federal Home Loan Bank of New York, coordinating institutional transition strategy with executive management and internal and external stakeholders. Prior to this role, Mr. Shinozuka was an MBS strategist at UBS, winning Institutional Investor awards in 2007 and 2008 for Structured Securities ABS strategy. Before this, he was Director of Fixed Income Quantitative Research at PaineWebber and UBS, whose department created structuring and analytics technology for the #1-ranked Agency CMO issuer of the early 2000s. He also developed CMO and Mortgage Analytics at Morgan Stanley. Mr. Shinozuka earned his MBA from the Columbia Graduate School of Business, MS in Computer Science from the Columbia School of Engineering and BA from Columbia College. He is a CFA® charterholder and Financial Risk Manager (FRM) certified by the Global Association of Risk Professionals (GARP).
SVP, Chief Business Officer
Adam Goldstein is Senior Vice President, Chief Business Officer at the Federal Home Loan Bank of New York (FHLBNY). In this role, he leads the sales, marketing and research activities for all business lines. In addition, he manages the FHLBNY’s Mortgage Partnership Finance® Program. He joined the FHLBNY in June 1997 and has held a number of key positions in our Sales and Marketing areas. Adam sits on the FHLBNY’s Management Committee, Operations Committee, Credit Committee and Disclosure Committee. He created the Marketing Department and established and Chairs the Products, Services and Membership Committee where he is instrumental in improving the lending process and business innovation. In addition, he is responsible for the development and implementation of the corporate long-term Strategic Plan with an end-goal to add value to membership. He speaks at a variety of trade conventions as well as providing training for regulatory agencies and bond investors. He assists members in asset/liability management, liquidity and capital management, hedging interest rate risk, deposit pricing theory, and housing and economic development by providing them with liability structures to fund a variety of assets. Adam holds an MBA in Financial Marketing from Binghamton University. In addition, Adam has completed post-graduate program certifications at Columbia University for Business Excellence, at New York University for Management Practices, at Cornell University for Management Development and at The New York Institute of Finance for Finance. He is in the final stages of completing the Certificate of Management Excellence at Harvard University.
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