Bulletins

Notice of Federal Home Loan Bank 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.

In accordance with the recently revised regulation, the FHFA will continue to require a Community Support Statement from each member subject to a community support review at the same time, every two years. For the 2019 review period, the FHFA has established October 31, 2019 as the date by which each member subject to community support review must submit a completed Community Support Statement; this is a change from the December 31 submission deadline under the previous regulation.

View the list of Federal Home Loan Bank of New York members required to submit a Community Support Statement form to the FHFA by October 31, 2019.

As part of its review process, the FHFA solicits public comments on the community support programs and activities of member lenders selected for review. If you have any comments, both positive and/or critical, on the performance of any of these members in meeting the credit needs of their communities, please send your comments directly to the FHFA, by e-mail to hmgcommunitysupportprogram@fhfa.gov by April 29, 2019.

If you have any questions on this matter, please contact our Community Investment Department at CommunitySupportProgram@fhlbny.com or (212) 441-6850; or contact me directly at paul.heroux@fhlbny.com or (212) 441-6808.

Thank you for your commitment to promoting affordable housing opportunities within your community.

Paul B. Héroux

Community Investment Officer
Federal Home Loan Bank of New York
March 2019

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Bulletins

Notice of Federal Home Loan Bank Members Selected For Community Review

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