Select Page

President’s Report

January 3, 2019

At the Bank
A Strong Year, A Strategy for Success

Throughout 2018, the Federal Home Loan Bank of New York served as a stable and reliable partner for our members. This stability is reflected in our performance, with a record $437.8 million in net income for the first nine months of the year, and $316.3 million in dividends through the first three quarters. This reliability is reflected in the daily availability of our advances, with solid advances demand across the year. And this partnership is perhaps reflected best in the $44.3 million in Affordable Housing Program grants we announced for the 2018 AHP Round – our largest single round offering in the history of the program.

Our achievements in 2018 go beyond our results. Last year, we created two new Disaster Recovery Grant Programs – the Homeowner Recovery Grant and the Small Business Recovery Grant – to help communities in Puerto Rico and the U.S. Virgin Islands continue to recover from the 2017 hurricanes. We also issued our first advance linked to the Secured Overnight Financing Rate (SOFR). As markets evolve and LIBOR transitions to alternative indices, we believe that products like our SOFR-Linked ARC Advance will help assist members in meeting their funding needs in a changing environment. These actions reflect our ability to innovate to create programs and products to meet the needs of our members and the communities we serve.

It is certain that the year ahead will present its own challenges and opportunities, but just as our members remain stable partners for your customers and communities, so too shall we will remain your trusted partner. We begin 2019 with a talented and committed team at the FHLBNY, all dedicated to our mission and our members. Our team is strengthened by the guidance we receive from our active and knowledgeable Board of Directors – which, in 2019, will benefit from the energy and insight brought by its three newest members: New York Member Director Stephen S. Romaine, chairman of Tompkins Trust Company; and Independent Directors David R. Huber, the former chief financial officer of Horizon Blue Cross Blue Shield of New Jersey, and Charles E. Kilbourne, III, managing director of the Financial Services Volunteer Corps. But it is through our new 2019-2021 Strategic Plan that we believe we are best-positioned to enhance our franchise and deliver value to our members over the coming years.

Our culture and mission define who we are, and our strategy guides us as we act on this mission, positioning the FHLBNY to take advantage of opportunities, identify and address risks and generate results for our members. Our 2019-2021 Strategic Plan includes key initiatives that are designed to enhance the services we provide to our members, bolster our balance sheet, build our infrastructure and strengthen our culture.

We closed 2018 with a solid advances book and a strong balance sheet; a healthy and diverse membership; and a talented and dedicated workforce, all of which are vital to the ongoing success of our cooperative. In 2019, we will remain focused on the strategic vision of being “a balanced provider of liquidity to members in all operating environments.” Our new Strategic Plan establishes a set of Core Values, formalizing the principles that have long reflected our culture and guided our decision-making:

1. Focus on members

2. Foster a collaborative and responsive work environment

3. Support diversity and inclusion in a respectful manner across our business

4. Uphold our integrity and promote accountability

5. Be results-oriented and mindful of our risk profile

It is our focus on members that drove our performance on 2018, and it is this focus that will drive our cooperative forward in 2019. In 2019, and the years ahead, our franchise will draw on the contributions of each member of our talented team, as well as the counsel from our Board, to execute on our strategy and help ensure that the FHLBNY remains an unwavering supporter of our local communities and a reliable partner for our members.

I thank our members for your business in 2018, and look forward to working with you in 2019 to the benefit of our cooperative, our members and the communities we serve.

Sincerely,

José R. González
President and Chief Executive Officer

# # #

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.

Prior releases can be found on the SEC's EDGAR System.



09/02/2024

pr090224

06/06/2024

Report from the President: National Homeownership Month, Local Support

05/16/2024

Dividend Announcement 1Q24: FHLBNY Declares a 9.50% Dividend for the First Quarter of 2024

05/09/2024

Report from the President: Navigating the Future

03/05/2024

Report from the President: A Critical, Stabilizing Role

02/15/2024

Dividend Announcement 4Q23: FHLBNY Declares a 9.75% Dividend for the Fourth Quarter of 2023

01/09/2024

Report from the President: Looking at the Year Ahead

12/07/2023

Report from the President: Focusing on the Future

11/15/2023

Dividend Announcement 3Q23: FHLBNY Declares a 9.50% Dividend for the Third Quarter of 2023

11/02/2023

Report from the President: FHLBNY Announces Third Quarter 2023 Operating Highlights

09/05/2023

Report from the President: A Vital Mission, A Proven Value

08/17/2023

FHLBNY Declares an 8.50% Dividend for the Second Quarter of 2023

08/03/2023

Report from the President: One Year Into a 100-Year Review

07/11/2023

July 2023 Report from the President

06/06/2023

Report from the President: FHLBNY Announces 0% Development Advance Program

05/16/2023

Dividend Announcement 1Q23: The FHLBNY Declares a 7.75% Dividend for the First Quarter of 2023

04/04/2023

Report from the President: A Stabilizing Role

03/01/2023

Report from the President: Growing Advances and a Growing Public Profile

02/15/2023

Dividend Announcement 4Q22: The FHLBNY Declares a 7.50% Dividend for the Foruth Quarter of 2022

02/06/2023

Report from the President: Liquidity is the Mission and the Means

01/09/2023

Report from the President: A Profound Importance

12/01/2022

Report from the President: Grateful For Our Role

11/17/2022

Dividend Announcement 3Q22: The FHLBNY Declares a 6.75% Dividend for the Third Quarter of 2022

11/03/2022

Report from the President: FHLBNY Announces Third Quarter Operating Highlights

10/07/2022

Report from the President: The System’s Stakeholders Speak

09/01/2022

Report from the President: The Voice of the Local Lender

08/18/2022

Dividend Announcement 2Q22: The FHLBNY Declares a 5.50% Dividend for the Second Quarter of 2022

08/02/2022

Report from the President: Looking Ahead to 100 Years of the Federal Home Loan Banks

07/05/2022

Report from the President: Federal Home Loan Bank System Turns 90

06/02/2022

Report from the President: Approaching 90, the Power of Partnership Prevails

05/12/2022

Dividend Announcement 1Q22: The FHLBNY Declares a 4.75% Dividend for the First Quarter of 2022

04/05/2022

Report from the President: FHLBNY Files 2021 Form 10-K – Stability Throughout the Year

03/03/2022

Report from the President: Closing the Books on 2021

02/17/2022

Dividend Announcement 4Q21: The FHLBNY Declares a 4.36% Dividend for the Fourth Quarter of 2021

02/01/2022

Report from the President: Enhancing the Value of Membership

01/06/2022

Report from the President: A Strategic Focus on Stability and Service

12/07/2021

Report from the President: Together Again

11/18/2021

Dividend Announcement 3Q21: The FHLBNY Declares a 4.40% Dividend for the Third Quarter of 2021

11/02/2021

Report from the President: FHLBNY Announces 3Q21 Operating Highlights

10/04/2021

Report from the President: An Unwavering Focus on Our Members and Supporting Our Communities

09/01/2021

Report from the President: 25 Years of Creating Homeownership Opportunities

08/19/2021

Dividend Announcement 2Q21: The FHLBNY Declares a 4.60% Dividend for the Second Quarter of 2021

07/01/2021

Report from the President: FHLBNY Commences 2021 Director Election Process

06/07/2021

Report from the President: A Stable Partner for the Recovery Ahead

05/28/2021

Dividend Announcement 1Q21: The FHLBNY Declares a 4.75% Dividend for the First Quarter of 2021

04/05/2021

Report from the President: FHLBNY Files 2020 Form 10-K – Stability Throughout the Year

03/02/2021

Report from the President: Meeting Member Needs

02/18/2021

Dividend Announcement 4Q20: The FHLBNY Declares a 5.00% Dividend for the Fourth Quarter of 2020

02/04/2021

Report from the President: FHLBNY Unveils SOFR-Linked ARC Advance Enhancement

01/05/2021

Report from the President: A Proven Partnership to Help a Region Recover

12/02/2020

Report from the President: A Steady Foundation

11/19/2020

Dividend Announcement 3Q20: The FHLBNY Declares a 5.10% Dividend for the Third Quarter of 2020

11/02/2020

Report from the President: FHLBNY Announces 3Q20 Operating Highlights

10/05/2020

Report from the President: A Stable Partner and a Strong Culture

09/03/2020

Report from the President: A Stable Foundation

08/20/2020

Dividend Announcement 2Q20: The FHLBNY Declares A 5.60% Dividend For The Second Quarter Of 2020

08/04/2020

Report from the President: FHLBNY Announces 2Q20 Operating Highlights

07/02/2020

Report from the President: A Vital Conversation

06/02/2020

Report from the President: A Balanced Provider and a Stable Partner

05/20/2020

Dividend Announcement 1Q20: The FHLBNY Declares a 5.90% Dividend for the First Quarter of 2020

05/07/2020

Report from the President: FHLBNY to Accept Paycheck Protection Program Loans as Eligible Collateral

04/01/2020

Report from the President: Stability in a Crisis - Our Cooperative Responds to the Pandemic

03/13/2020

Report from the President: Novel Coronavirus Update

03/09/2020

Report from the President: Closing the Books on a Strong 2019

02/20/2020

Dividend Announcement 4Q19: The FHLBNY Declares a 6.35% Dividend for the Fourth Quarter of 2019

02/04/2020

Report from the President: United by Our Mission

01/06/2020

Report from the President: A Reliable Partner for a New Decade

12/03/2019

Report from the President: Positioned to Meet Your Liquidity Needs

11/21/2019

Report from the President: The FHLBNY Declares a 6.35% Dividend for the 3Q19

10/15/2019

Report from the President: The FHLBNY Announces 2019 Affordable Housing Program Grants

09/05/2019

Report from the President: A Market Milestone

05/16/2019

Dividend Announcement 1Q19: The FHLBNY Declares a 6.35% Dividend for the First Quarter of 2019

06/03/2019

Report from the President: Jersey City Welcomes FHLBNY Board; 2019 FHLBNY Director Election Update

07/02/2019

Report from the President: A New Era of Creating Homeownership Opportunities; FHLBNY Commences 2019 Director Election Process

08/15/2019

Dividend Announcement 2Q19: The FHLBNY Declares a 6.35% Dividend for the Second Quarter of 2019

04/02/2019

Report from the President: Reflecting on a Record Year for the Federal Home Loan Bank System; FHLBNY 2019 Member Symposium

03/04/2019

Report from the President: A Year of Strong Performance; FHLBNY Announces Fourth Quarter 2018 Dividend; 50th Round of Affordable Housing Program Opens

02/13/2019

Dividend Announcement 4Q18: The FHLBNY Declares a 6.90% Dividend for the Fourth Quarter of 2018

02/04/2019

Report from the President: Engaging Members, Enhancing Value

01/03/2019

Report from the President: A Strong Year, A Strategy for Success

No post

Latest News

09/02/2024

pr090224

06/06/2024

Report from the President: National Homeownership Month, Local Support

06/03/2024

FHLBNY Affordable Housing Advisory Council Open Nomination Period – For 2025 Service

05/08/2024

FHLBNY Has Made $120 Million In Affordable Housing And Community Development Support Available Through First Four Months of 2024

04/25/2024

FHLBNY Announces First Quarter 2024 Operating Highlights