June 28, 2019
Contact: Brian Finnegan – (212) 441-6877
Federal Home Loan Bank of New York
Commences 2019 Board of Directors Election Process
New York, New York —
The Federal Home Loan Bank of New York (FHLBNY) is now soliciting nominations for candidates to serve on its Board of Directors (Board) for terms commencing on January 1, 2020, the FHLBNY announced in an electronic communication sent to its members on June 28, 2019.
“The Board of Directors is a vital part of our cooperative, providing guidance and lending their expertise to our decision-making,” said José R. González, president and CEO of the FHLBNY. “The depth and diversity of our Board is one of the greatest strengths of our cooperative, and I encourage all of our members to participate in the election process.”
In total, four Directorships – two seats representing the FHLBNY’s New York members, and two Independent Directorships representing the whole District – are up for election in 2019.
The FHLBNY’s official Certificate of Nomination was included in the communication sent to New York members on June 28, 2019. Eligible stockholders may, using the Certificate, nominate one person for each of the two open New York Member Directorships.
Separately, those individuals interested in being nominated for the two open Independent Directorships must first submit an Independent Director Application Form to the FHLBNY.
All electronic Certificates of Nomination must be submitted and all mailed Independent Director Application Forms must be received at the FHLBNY by 5:00 p.m. ET on July 30, 2019.
For more information on the election and a list of key election dates, see our Corporate Governance page.
The FHLBNY’s Board of Directors consists of a talented group of dedicated individuals that benefits from, among other things, demographic (including gender and racial) diversity, and the FHLBNY expects that this will continue in the future. As members consider potential nominations for Member Directorships and give thought to persons who might be interested in Independent Directorships, please keep diversity in mind.
Questions on the 2019 Director election process should be directed to Paul Friend, the FHLBNY’s General Counsel, at [email protected].
About the Federal Home Loan Bank of New York
The Federal Home Loan Bank of New York is a Congressionally chartered, wholesale Bank. It is part of the Federal Home Loan Bank System, a national wholesale banking network of 11 regional, stockholder-owned banks. As of June 30, 2019, the FHLBNY serves 324 financial institutions in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. The Federal Home Loan Banks support the efforts of local members to help provide financing for America’s homebuyers.
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Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
This report may contain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. These statements may use forward-looking terms, such as “projected,” “expects,” “may,” or their negatives or other variations on these terms. The Bank cautions that, by their nature, forward-looking statements involve risk or uncertainty and that actual results could differ materially from those expressed or implied in these forward-looking statements or could affect the extent to which a particular objective, projection, estimate, or prediction is realized. These forward-looking statements involve risks and uncertainties including, but not limited to, regulatory and accounting rule adjustments or requirements, changes in interest rates, changes in projected business volumes, changes in prepayment speeds on mortgage assets, the cost of our funding, changes in our membership profile, the withdrawal of one or more large members, competitive pressures, shifts in demand for our products, and general economic conditions. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.
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