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Bulletins

September 2, 2020

Amendments to the FHLBNY Capital Plan
Effective October 2, 2020

The Federal Home Loan Bank of New York (FHLBNY) is amending its Capital Plan (Plan), which defines the rights of stockholders of the FHLBNY. The amended Plan will go into effect on October 2, 2020.
The first amendment to the Plan involves a change to the Activity-Based Stock Purchase Requirement at Section 4.2 of the Plan that will require Members to purchase activity-based stock for all new and renewing Letters of Credit. The specific purchase requirement will be announced by the FHLBNY at least 10 days ahead of the implementation date. In this regard, implementation of this new purchase requirement is expected to take place no later than March 31, 2021. The purchase requirement will in no event be less than 0.10% or more than 2.50% of the outstanding principal balance of the off-balance sheet item relating to all types of new and renewing Letters of Credit which the FHLBNY has transacted on a Member’s behalf and issued under the Irrevocable Letter of Credit Agreement between the FHLBNY and the Member.

The second amendment to the Plan pertains to Section 2.2.4 of the Plan, “Limitations on Redemptions and Repurchases”. Here, the FHLBNY is adding a subsection called “FHLBNY’s Discretion to Suspend Repurchases of Excess Capital Stock”. The new subsection is intended to provide the FHLBNY with additional flexibility in managing capital in unlikely situations by allowing for the suspension of the repurchase of shares of excess Capital Stock in order to:

 

help prevent capital ratios falling below the FHLBNY’s regulatory-mandated requirements and Board-approved thresholds as a result of Member actions with respect to the management of advance balances; or

 

help assure the fulfillment of Member contractual obligations to the FHLBNY.

Upon the FHLBNY’s determination that the capital management or contractual obligation issues described above have been mitigated or resolved, the FHLBNY will reinstate the repurchase of excess Capital Stock.

Other minor non-substantive changes were made to update various regulatory references contained in the Plan.

A copy of the amended Plan that will go into effect on October 2, 2020 is available at www.fhlbny.com/capitalplan.

If you have any questions about the Capital Plan, please call me at (212) 441-6703 or your
Relationship Manager at (212) 441-6700.

Thank you.

09/02/2020

Amendments to the FHLBNY Capital Plan (Effective October 2, 2020)

07/30/2020

FHLBNY CICA Disaster Relief Funding: Eligibility Expansion

06/01/2020

Enhancements to the Refundable MULOC Product

05/15/2020

Update to the Member Products Guide

04/23/2020

FHFA Provides Guidance on PPP Loans

01/03/2020

1Link® Migration: Phase I - Interim Portal Roll-out

12/31/2019

Update to the Member Products Guide & Correspondent Services Manual (January 2020)

12/17/2019

1Link® Migration: Phase I – Interim Access Portal

11/06/2019

Announcing the Callable Adjustable Rate Credit Advance Pilot Program

09/27/2019

FHLBank System Regulator Provides LIBOR Transition Guidance.

06/04/2019

SOFR ARC: The FHLBNY is pleased to announce the expansion of the SOFR-Linked ARC Advance Program.

05/11/2019

FHLBNY Capital Plan Revisions: On August 1, 2017, revisions to the FHLBNY Capital Plan will become effective. : RE: FHLBNY Capital Plan Revisions - Effective August 1, 2017

03/26/2019

Notice of FHLB Members Selected for Community Review: The Federal Housing Finance Agency has issued a final rule amending its community support regulation, 12 CFR Part 1290. This regulation requires that Federal Home Loan Bank members meet certain standards of community investment or service to maintain continued access to long-term (greater than one year) advances from the Federal Home Loan Banks.

01/31/2019

Introducing the Homebuyer Dream Program: The Homebuyer Dream Program<sup>TM</sup> (HDP) is a a new first-time homeowner grant program coming in mid-2019.

01/24/2019

Update to MPG & CSM: The Federal Home Loan Bank of New York (FHLBNY) has updated its Member Products Guide (Guide) and the Correspondent Services Manual (Manual).

01/04/2019

Fannie Mae and Freddie Mac Uniform Mortgage-Backed Security: Effective June 3, 2019, Fannie Mae and Freddie Mac will begin to issue a new, common security (UMBS) and will replace the current offerings of Freddie Mac 45 day Gold securities.

11/28/2018

Updates to the 2019 Fee Schedules: In our continued effort to provide excellent service to our Members and maintain our focus on the core business of providing liquidity we are pleased to announce further streamlining of ancillary fees.

11/19/2018

The SOFR-Linked Adjustable Rate Credit Advance: The Federal Home Loan Bank of New York is pleased to announce the launch of the Secured Overnight Financing Rate (SOFR)-Linked Adjustable Rate Credit (ARC) Advance.

10/10/2018

Nominations for AHAC: The Federal Home Loan Bank of New York (FHLBNY) is now accepting nominations for the FHLBNY’s Affordable Housing Advisory Council.

10/09/2018

A New Housing Program: A new first-time homeowner grant program is coming in mid-2019.

07/27/2018

D&I Status Report Highlights: In 2017, the FHLBNY made significant achievements in diversity and inclusion. These achievements are captured in our 2017 Diversity & Inclusion Status Report.

05/07/2018

AHP Proposed Rule: The FHFA has issued a Proposed Rule that calls for a number of changes to the AHP. We believe that many of these proposed changes will present significant challenges to our members, housing partners and other community stakeholders, and could impact how affordable housing is funded across our region.

04/20/2018

Member Products Guide & Correspondent Services Manual Update: The FHLBNY has updated its Member Products Guide and the Correspondent Services Manual. The Guide and Manual detail the FHLBNY’s credit, collateral and correspondent services standards and can assist members in finding helpful information on the FHLBNY's Business Lines.

04/05/2018

Affordable Housing Program 2018: The Federal Home Loan Bank of New York is pleased to announce that approximately $45 million in housing grants will be available for the Affordable Housing Program 2018 Competitive Round.

07/12/2017

Announcement Regarding Overnight Advance Processing: Members may now process their Overnight Advances by calling the Member Services Desk for the same low rate as processing this transaction on 1Link.

06/21/2017

Update to Member Products Guide & Correspondent Services Manual: The Federal Home Loan Bank of New York (FHLBNY) has updated its Member Products Guide and the Correspondent Services Manual.

05/31/2017

2016 Annual Report to Members: Our members drive our franchise. In this Annual Report, we have included testimonials from a diverse range of members, all of whom share their thoughts on the value and importance of their membership in our cooperative.

05/22/2017

A New Home for FHLBNY: The Federal Home Loan Bank of New York is pleased to inform you that our New York office has moved to a more modern and open space on the sixth and seventh floors of the 101 Park Avenue location.

05/11/2017

Affordable Housing Program 2017: The Federal Home Loan Bank of New York is pleased to announce that approximately $33.2 million in housing grants is available for the Affordable Housing Program 2017 Competitive Round.

04/03/2017

Affordable Housing Program 2017: The Federal Home Loan Bank of New York is pleased to announce that approximately $33.2 million in housing grants will be available for the upcoming Affordable Housing Program 2017 Competitive Round.

02/15/2017

FHLBNY Bulletin No. 027: The Federal Housing Finance Agency (“FHFA”) has issued a final rule amending its community support regulation, 12 CFR Part 1290

01/11/2017

FHLBNY Bulletin No. 026: To 1LinkSM and 1LinkSKSM Users

12/01/2016

FHLBNY Bulletin No. 025: Update to the 2017 Fee Schedules

05/31/2016

FHLBNY Bulletin No. 024: Updates to the 2016 Fee Schedules

04/06/2016

FHLBNY Bulletin No. 023: Announcing the New Symmetrical Prepayment Advance (SPA) Feature; Why Use a SPA Feature?; Available SPA Advance Structures

03/01/2016

FHLBNY Bulletin No. 022: Updates to the 2016 Fee Schedules

12/18/2015

FHLBNY Bulletin No. 021: The Federal Home Loan Bank of New York (“FHLBNY”) is pleased to announce an advance prepayment Rebate Program : FHLBNY Announces Rebate Program for Advances

09/29/2015

FHLBNY Bulletin No. 020: Putable Advance Modification Program has expanded: previously modified Putable Advances can now be re-modified : Update to the Putable Advance Modification Program

09/22/2015

FHLBNY Bulletin No. 019: The FHLBNY Will Accept Split-rated, Private Label Commercial Mortgage Backed Securities as Collateral to Secure All Extensions of Credit

04/27/2015

FHLBNY Bulletin No. 017: Update to the Member Products Guide & Correspondent Services Manual

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