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Borrower’s Guide

Welcome to the Borrower’s Guide!

We are delighted that you have decided to take advantage of the Federal Home Loan Bank of New York’s (FHLBNY) credit products! As you know, our advances are competitively priced, with flexible features that can help your institution meet its liquidity needs.

This guide will assist you through the process of requesting an advance. You can navigate through each step on the left. At any time, you may contact your Relationship Manager or a Member Services Desk Representative and they will be happy to assist you.

As always, we value your membership in the FHLBNY and look forward to our ongoing partnership.

Not a Member? To take advantage of the FHLBNY’s credit products, a financial institution must first become a member. If you are not a member, learn how the FHLBNY can be your financial partner.

Step 1: Select the Advance(s) that best suits your institution’s needs

Our wide array of credit products is designed to meet your specific funding needs, with terms ranging from overnight to 30 years. You can also contact your Relationship Manager to discuss the best advance products for your institution.

Overnight Advances

Short-Term Advances

Medium- & Long-Term Advances

Letters of Credit

Letters of Credit Information Site

Other Credit Products, Programs & Features

Interest Rate Derivatives

Advance Rebate Program

Symmetrical Prepayment Advance (SPA) feature

Putable Advance Modification Program

Key Contacts

Relationship Managers:
(212) 441-6700
Member Services Desk:
(212) 441-6600 or
(800) 546-5101, option 1
1Link® Helpdesk:
(800) 546-5101, option 1

 

Quick Reference Guide

5 Easy Steps to Funding
Download

1Link®

FHLBNY’s secure online banking system designed just for members

Log Into 1Link®

Our Putables, Callables, Interest Rate Derivatives, and Letters of Credit programs require additional agreements.
Please note: select advances are eligible for the Symmetrical Prepayment Advance (SPA) Feature.

Putable advance

Receive a wide array of maturities and lockouts for medium- to long-term funding where the FHLBNY owns an option to terminate the advance at specified times

Advantages

• Priced lower than regular advances
• Customize maturities from 2 to 10 years and lockout periods from 1 year or greater
• One-time or quarterly option exercise
• Customized strike prices are available

PUTABLE FORMS

Interest Rate Derivatives

Reduces income fluctuations caused by interest rate volatility

Advantages

• Lower the cost of funding
• Hedge interest rate exposure or increase the certainty of future funding costs
• Achieve asset/liability management goals
For Interest Rate Derivative Forms please contact a Relationship Manager.

Letters of Credit (L/C)

Support liquidity, asset/liability management, and housing and economic development activities

Advantages

• Triple-A-rated, low-cost and requires no capital stock
• Efficient way to collateralize municipal deposits
• Provide credit support in the sale of whole loan portfolios
• Maturities from 2 weeks to 10 years

L/C Info Site L/C Forms

Members can obtain rates by:

1

Sign up to receive the daily rate indications.

2

Log onto 1Link® for “live” Overnight and Short-Term Advance Rates (advances under 1 year).

3

Contact the Member Services Desk at (212) 441-6600 or (800) 546-5101, option 1.

Key Contacts

Relationship Managers:
(212) 441-6700
Member Services Desk:
(212) 441-6600 or
(800) 546-5101, option 1
1Link® Helpdesk:
(800) 546-5101, option 1

 

Quick Reference Guide

5 Easy Steps to Funding
Download

1Link®

FHLBNY’s secure online banking system designed just for members

Log Into 1Link®

Step 2: Determine Available Collateral

Since the FHLBNY is a secured lender and all of our advances require collateral, it’s important that you know how much collateral you have at the FHLBNY prior to requesting an advance.

Members can view their Collateral Position Report on 1Link®, which enumerates a member’s borrowing potential. Once you log into 1Link®, click on the “Information Reporting” tab, then under the “Reports” drop-down list click on “Special Reports,” then select “Collateral Customer Summary Report.”

Note: When you transact an advance through 1Link®, you will be able to view your available borrowing amount and your current collateral position on the same transaction screen.

Key Contacts

Relationship Managers:
(212) 441-6700
Member Services Desk:
(212) 441-6600 or
(800) 546-5101, option 1
1Link® Helpdesk:
(800) 546-5101, option 1

 

How do I pledge collateral?

For an overview of the collateral process, please visit our Collateral Guide.

1Link®

FHLBNY’s secure online banking system designed just for members

Log Into 1Link®

Key Contacts

Relationship Managers:
(212) 441-6700
Member Services Desk:
(212) 441-6600 or
(800) 546-5101, option 1
1Link® Helpdesk:
(800) 546-5101, option 1

 

How do I pledge collateral?

For an overview of the collateral process, please visit our Collateral Guide.

1Link®

FHLBNY’s secure online banking system designed just for members

Log Into 1Link®

Step 3: Initiate Your Advance

Now you are ready to initiate your first advance*. All you need is:
1

Your Overnight Investment account number

2

The advance product you are interested in

3

The amount** and term of the advance

4

The type of collateral you are pledging

5

Be prepared to purchase a requisite amount of FHLBNY Capital Stock

Once you have all this information, contact a Member Services Desk Representative or your Relationship Manager to complete the advance request.

You can also use 1Link® to initiate short-term advances (under one year).

Benefits of initiating short-term advances through 1Link®

Initiate transactions conveniently from your PC with “live” advance rate updates

Create short-term, forward-start advances

Rollover or payoff maturing advances in a single transaction

Request real-time rate indications on advance products, where applicable

Access and view your current day advance transaction status any time

Check to see which advances are maturing each day

Verify your FHLBNY portfolio of outstanding advances, FHLBNY stockholdings and collateral availability

* In order to initiate an advance, you must be an authorized user on the Global Authorization Form.
** The FHLBNY’s current Capital Plan requires a stock purchase of 4.5% of the borrowed amount.

Key Contacts

Relationship Managers:
(212) 441-6700
Member Services Desk:
(212) 441-6600 or
(800) 546-5101, option 1
1Link® Helpdesk:
(800) 546-5101, option 1

 

1Link®

FHLBNY’s secure online banking system designed just for members

Log Into 1Link®

Key Contacts

Relationship Managers:
(212) 441-6700
Member Services Desk:
(212) 441-6600 or
(800) 546-5101, option 1
1Link® Helpdesk:
(800) 546-5101, option 1

 

1Link®

FHLBNY’s secure online banking system designed just for members

Log Into 1Link®

Step 4: Receive Funds

Once the advance transaction is completed and approved by the FHLBNY, the funds will be deposited into your FHLBNY Overnight Investment Account (OIA). Using our wire transfer service, you can transfer the funds into another demand account or wire them out of your account. The fastest and most efficient way to move funds out of your demand account is by using 1Link® to initiate your wires.
When you initiate your wires through 1Link®, you can:

Save $9 for each domestic repetitive wire out

Save $12 each domestic non-repetitive wire out

Save $5 for book transfers (free with 1Link®)

Conveniently initiate current and future-dated domestic wires and book transfers right from your
PC

Receive quick confirmation for 1Link®-initiated payments

Receive detailed wire advice for incoming and outgoing wires

View your current day outgoing wires and book transfer transaction status anytime

Use templates to make repetitive wire transfers easy

Receive detailed wire information on Daily Wire Statement report

View wires and sign all with a single signing process

Key Contacts

Relationship Managers:
(212) 441-6700
Member Services Desk:
(212) 441-6600 or
(800) 546-5101, option 1
1Link® Helpdesk:
(800) 546-5101, option 1

 

1Link®

FHLBNY’s secure online banking system designed just for members

Log Into 1Link®

Key Contacts

Relationship Managers:
(212) 441-6700
Member Services Desk:
(212) 441-6600 or
(800) 546-5101, option 1
1Link® Helpdesk:
(800) 546-5101, option 1

 

1Link®

FHLBNY’s secure online banking system designed just for members

Log Into 1Link®

Step 5: Review Transaction

After the transaction is completed, we will provide you with reports to help you manage your cash position with the FHLBNY. The primary report is the Daily Advice of Account Activity.

This report describes the financial activity of the prior day, including information about advances and other credit transactions, stock purchases and redemptions and securities safekeeping transactions. The Daily Advice of Account Activity is available through the FHLBNY’s 1Link® service.

In addition, the FHLBNY provides you with a Monthly Statement of Account Activity that provides general information on all debits and credits that have been posted to your OIA account. The Monthly Statement is available on 1Link® as well. Quarterly TB-13a reports are also provided to members as requested. To request a TB-13a report or a walk-through of any of the above information, please contact your Relationship Manager at [email protected].

Key Contacts

Relationship Managers:
(212) 441-6700
Member Services Desk:
(212) 441-6600 or
(800) 546-5101, option 1
1Link® Helpdesk:
(800) 546-5101, option 1

 

1Link®

FHLBNY’s secure online banking system designed just for members

Log Into 1Link®

Key Contacts

Relationship Managers:
(212) 441-6700
Member Services Desk:
(212) 441-6600 or
(800) 546-5101, option 1
1Link® Helpdesk:
(800) 546-5101, option 1

 

1Link®

FHLBNY’s secure online banking system designed just for members

Log Into 1Link®