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Bulletins

Bulletin 21

FHLBNY Announces Rebate Program for Advances

he Federal Home Loan Bank of New York (the “FHLBNY” or the “Bank”) is pleased to announce an advance prepayment Rebate Program. Under the Rebate Program, which represents a new 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 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; and

 

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. The FHLBNY’s regular advance terms and conditions will apply, and the Bank reserves the right in its sole discretion to amend, rescind, or reinstate the Rebate Program at any time.

How it works:

 

1. Member prepays an outstanding Eligible Advance that has a term remaining to maturity of at least one year.

 

2. Member decides to obtain a new Eligible Advance with a term of six months or greater within 30 days from prepayment (called the Rebate Window).

 

3. Member receives the rebate in cash..

For more information on the Rebate Program, including eligibility requirements, please contact your Relationship Manager at (212) 441-6700.

1Advances booked under the Community Lending Program and advances with remaining maturities of less than one year are not Eligible Advances. Members that have already prepaid Eligible Advances since October 1, 2015 will qualify for a rebate if they book new Eligible Advances by December 31, 2015.

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02/10/2021

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2020 Update to MPG & CSM: Member Products Guide and the Correspondent Services Manual

09/02/2020

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

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05/15/2020

Update to the Member Products Guide

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Enhancements to the Refundable MULOC Product

04/23/2020

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01/03/2020

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2019 Update to MPG & CSM: Member Products Guide and the Correspondent Services Manual (for Jan 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: FHLBNY is pleased to announce the expansion of the SOFR-Linked ARC Advance Program

03/26/2019

Notice of Federal Home Loan Bank Members Selected For Community Review (March 26, 2019)

01/31/2019

Introducing the Homebuyer Dream Program: A New First-Time Homeowner Grant Program

01/24/2019

2019 Update to MPG & CSM: Member Products Guide and the Correspondent Services Manual

01/04/2019

Announcement of Fannie Mae and Freddie Mac Uniform Mortgage-Backed Security (UMBS)

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.

08/01/2017

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

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

12/17/2015

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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