Federal Home Loan Bank of New York

In recognition of the Thanksgiving holiday, the FHLBNY will close on Thursday, November 28th. Our offices will reopen on Friday, November 29th. Happy Thanksgiving from the FHLBNY!

Last week, Adam Goldstein, the Chief Business Officer at the FHLBNY, moderated a panel discussion titled "Future of Financial Services and the Role of FinTechs." The session explored the evolving financial services landscape, the transformative role of FinTechs, and the regulatory requirements shaping the industry. Panelists included Ben Froehlich, Managing Director, Digital Finance, Barclays; Richard K. Kim, Partner, Wachtell, Lipton, Rosen & Katz; David MacGown, Managing Director, Head of North America Specialty Finance, Barclays; and Craig Stine, Vice Chairman, FIG, Barclays. This timely discussion provided Board Directors and senior executives in the financial services industry with actionable insights to navigate the rapid changes in the financial sector. Thank you to the NACD (National Association of Corporate Directors), Glenn Votek, NACD.DC, and everyone who participated in this important conversation!

At the Federal Home Loan Bank of New York (FHLBNY), we are proud to support the New Jersey Credit Unions Food Cooperative, an inspiring initiative launched by Affinity Federal Credit Union, First Harvest Credit Union, and EdiFi Credit Union. This cooperative has brought together 27 New Jersey credit unions to address the growing hunger crisis in the state by organizing a food drive that spans dozens of communities. Participating credit unions are serving as collection locations, enabling a broad reach to support food pantries and organizations across New Jersey. In addition, our donation is being distributed equally among five Feeding America food banks, ensuring vital resources reach the people who need them most. At FHLBNY, we are honored to participate in this initiative. Working alongside our credit union members, we can make a real difference for those in need and create stronger, more resilient communities.

FHLBNY's Peter Grof, Community Investment Officer, participated in a vital panel discussion titled "Addressing the Housing Supply Crisis in NYC and Beyond" during the American Bankers Association's Annual Convention. Peter joined industry leaders Lopa Kolluri, Head of Affordable Housing Lending at M&T Bank, and David A. Rowe, Chief Administrative Officer at CAMBA Inc. and CAMBA Housing Ventures, Inc., who is also a member of our Affordable Housing Advisory Council. Joe Pigg, SVP at the American Bankers Association, moderated the discussion. Together, the panelists shared innovative approaches and proven strategies to tackle housing challenges. They also explored how Federal Home Loan Banks and community partners collaborate to address these pressing needs. FHLBNY is proud to engage in these crucial conversations and work towards solutions that support affordable housing in our communities.

Our team recently came together to mark Diwali, the Festival of Lights, with a joyous celebration that included festive food, beautiful décor, and camaraderie. It was wonderful to see our team embrace the spirit of Diwali, a holiday that celebrates light, hope, and togetherness.   At the FHLBNY, we’re proud to foster a workplace where our diverse backgrounds and traditions shine bright, building an environment where everyone feels connected and valued. 

The FHLBNY honors all those who served and is forever grateful for their sacrifice.   In recognition of their service and in memory of our late Director, Retired Rear Admiral Danelle Barrett, the FHLBNY is proud to announce a commitment of $1 million to the Veteran community. This funding will be provided in the form of charitable contributions to qualified 501(c)(3) organizations that address the housing and economic needs of our Veterans.   In the coming weeks, the FHLBNY will share further details regarding the distribution of these charitable contributions and the specific areas of support.   We encourage you to take a moment to learn more about our distinguished Board Member, Retired Rear Admiral Danelle Barrett https://lnkd.in/eqwjvYk7.  

Through the FHLBNY’s Homebuyer Dream Program™, Reliant Community Federal Credit Union is turning homeownership dreams into reality for first-time buyers. This program provides up to $20,000 in grants for down payment and closing costs, making homeownership more accessible to individuals across the Greater Rochester area. Recently, Reliant shared the inspiring story of David Hammond, a dedicated Rochester native who, with the support of the Homebuyer Dream Program and Reliant’s mortgage team, became a first-time homeowner. David’s journey from overcoming life’s challenges to giving back to his community in impactful ways is a testament to the power of accessible, community-focused financial solutions. The FHLBNY is proud to allocate funding to participating members like Reliant twice per year, enabling lenders to help more first-time buyers build strong foundations in their communities. With an additional $120,000 recently allocated, Reliant is poised to assist even more individuals and families by November 29, 2024. Congratulations to David and Reliant Credit Union for continuing to make a difference in the lives of first-time homebuyers! Read the full story here https://lnkd.in/g8_8XAt6 To learn more about our Homebuyer Dream Program, please visit https://lnkd.in/eBHwj8jb

We were honored to participate in the Center for Financial Professionals (CeFPro) Balance Sheet Management USA Conference in Charlotte, NC, where our Chief Business Officer, Adam Goldstein, moderated the panel, “FHLBank: Liquidity and Funds Management.” The panel featured FHLBank Executives, including Scott Brennan, Senior Vice President and Director of Sales, Federal Home Loan Bank of Atlanta; Michelle Jonson, Executive Vice President, Chief Risk Officer, Group Head, Risk Management, Federal Home Loan Bank of Chicago; and Chad Brandt, Senior Vice President – Treasurer, Federal Home Loan Bank of Indianapolis (FHLBI). They discussed current market trends, credit, collateral, capital markets, recent challenges in the banking industry, and enhancing dynamic strategies to navigate in a complex environment. We extend our gratitude to CeFPro® for hosting the event and to the panelists for sharing their various perspectives and valuable insights. The session was engaging and well-received by the attendees.

It was a pleasure to recently connect with our key strategic partner, the Office of Finance (“OF”). The OF issues and services all debt securities for the regional FHLBanks while obtaining the most cost-effective terms possible. Their other activities include compiling and publishing the combined financial statements, analyzing and jointly developing new funding opportunities, and conducting educational outreach to inform investors and other interested parties about FHLBank debt products. We often have the opportunity to visit their offices to share insights on how our members use the System. During a recent visit, our Chief Business Officer, Adam Goldstein, was joined by System colleagues Mark Evanco, FHLBank Pittsburgh; James Frondorf, FHLBank Cincinnati; and Andrew Paolillo, CFA, FHLBank Boston to address the OF staff. We are so grateful for the warm hospitality and tremendous work the staff at the OF provide America’s FHLBanks to keep liquidity flowing through our members’ balance sheets so they can do the great work they are doing on Main Streets across the country. A special thank you to John Gerli and Randy Snook for their leadership at the OF. 

We are proud to partner with our member, First Central Savings Bank (FCSB), to support organizations dedicated to creating lasting, positive change. Through our Small Business Recovery Grant (SBRG) Program, FCSB has awarded 20 local nonprofit organizations $2,500 each, totaling $50,000. This contribution provides these organizations with essential resources to enhance community vitality and resilience. We extend our heartfelt congratulations and thanks to the nonprofit organizations listed below for their unwavering dedication to positively impacting our communities: Alley Pond Environmental Center American Legion Post 958 Bethany House of Nassau County Boys and Girls Club of Metro Queens Center for the Women of NY Comite Civico Argentino Inc Freeport Education Foundation Glen Cove Educational Foundation Hellenic Congress of America Hewlett House HYBYDRI Inc (Huntington Youth Bureau) King Manor Museum Lynbrook Gridiron Football Save a Young Life Foundation Shoes for All Inc. Society of Kastorians Songs of Love The Sorrentino Family Foundation TRI CYA (Tri Community & Youth Agency) Tribute and Honor Foundation As Michael Serao, Executive VP of FCSB, noted, “Each act of kindness can start a wave of extraordinary impact.” To learn more about our SBRG Program, please visit: https://lnkd.in/e3Zrx5Ai