# EDGAR Filing Document

**Accession Number:** 0001329842
**File Stem:** 0001654954-23-001306
**Filing Date:** 2023-2
**Character Count:** 12323
**Document Hash:** b98e0bd4adb2985e465325d9624bb1e1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001654954-23-001306.hdr.sgml**: 20230206

**ACCESSION NUMBER**: 0001654954-23-001306

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20230206

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230206

**DATE AS OF CHANGE**: 20230206

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Federal Home Loan Bank of New York
- **CENTRAL INDEX KEY:** 0001329842
- **STANDARD INDUSTRIAL CLASSIFICATION:** FEDERAL & FEDERALLY-SPONSORED CREDIT AGENCIES [6111]
- **IRS NUMBER:** 136400946
- **STATE OF INCORPORATION:** X1
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-51397
- **FILM NUMBER:** 23588840

**BUSINESS ADDRESS:**
- **STREET 1:** 101 PARK AVENUE, 6TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10178
- **BUSINESS PHONE:** 212-681-6000

**MAIL ADDRESS:**
- **STREET 1:** 101 PARK AVENUE, 6TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10178

?xml version="1.0" encoding="utf-8"?fhlbny_8k.htm

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549** 

____________________

**FORM 8-K** 

**____________________**

**CURRENT REPORT** 

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934** 

**Date of Report (Date of earliest event reported): February 6, 2023**

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| |
|:---|
| **Federal Home Loan Bank of New York** |
| **(Exact name of Registrant as Specified in Its Charter)**  |

---

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| | | |
|:---|:---|:---|
| **Federally Chartered Corporation** | **000-51397** | **13-6400946** |
| **(State or Other Jurisdiction**<br>**of Incorporation)** | **(Commission**<br>**File Number)** | **(IRS Employer**<br>**Identification No.)** |

---

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| | |
|:---|:---|
| **101 Park Avenue,**<br>**New York, New York** | **10178-0599** |
| **(Address of Principal Executive Offices)** | **(Zip Code)** |

---

**Registrant's Telephone Number, Including Area Code: (212) 441-6616**

**<u>Not Applicable</u>**

**(Former Name or Former Address, if Changed Since Last Report)** 

____________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| None | N/A | N/A |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 8.01 Other Events.**

Each month the Chief Executive Officer of the Federal Home Loan Bank of New York ("FHLBNY") issues a 'Report from the President' (the "Report") to each shareholder. Such Reports may contain information that may be important to security holders. A copy of the Report to shareholders for the month of January 2023 issued on February 6, 2023 is attached hereto as Exhibit 99.1.

**Item 9.01 Financial Statements and Exhibits.**

(d) Exhibits.

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| | |
|:---|:---|
| **Exhibit**<br>**Number** | **Description** |
| [99.1](fhlbny_ex991.htm) | [FHLBNY President's Report dated February 6, 2023.](fhlbny_ex991.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | Federal Home Loan Bank of New York | Federal Home Loan Bank of New York |
| Date: February 6, 2023 | By: | /s/ Kevin M. Neylan  |
|  |  | **Name:** Kevin M. Neylan  |
|  |  | **Title:** Senior Vice President and Chief Financial Officer |

---

## Exhibit 99.1

**EXHIBIT 99.1**

February 6, 2023

TO: All Stockholders (Addressed Individually) <br>SUBJECT: Report from the President

**Liquidity is the Mission and the Means**

Last month, we announced the launch dates for the 2023 Rounds of our Affordable Housing Program ("AHP") and our Homebuyer Dream Program® ("HDP®") – our two flagship programs through which we partner with our members to provide grant funding in support of affordable housing and homeownership opportunities across our region. On February 21, the 2023 AHP Round will open with $38 million in grant funds for affordable rental and homeownership initiatives. The 2023 HDP Round opens a month later, on March 27, with an additional $10 million set aside for grants to support down payment and closing cost assistance for first-time homebuyers.

On January 18, our Community Investment team held a webinar (a recording of which can be found here) to provide an overview of these programs and this year's offerings, and to discuss our other Community Lending Programs. Throughout February, we will hold a series of in-person and virtual training sessions for our members and housing partners to review program criteria, discuss the application process and provide answers to any questions participants may have. More details on and registration information can be found here for the AHP and here for the HDP.

We know that housing affordability is a considerable challenge across our nation, one which will take significant contributions from both public and private interests across a number of industries and all levels of government to address. We are proud of our ability to support these efforts through our grant programs, which provides our cooperative with the opportunity to make a direct impact on housing initiatives that strengthen communities throughout our District and beyond.

But our most significant impact on the communities we serve comes from our ability to keep liquidity flowing into these communities. And so, we also take great pride in our role as a trusted liquidity source to each of our more than 300 members. Our privately sourced funding is secured by high-quality, mission-eligible collateral pledged by our members, and available to all members in good standing with our cooperative. In recent weeks, however, our role has received intense external attention, much of which featured a fundamental misunderstanding of the purpose and function of the Federal Home Loan Banks. To be clear, the original purpose of the Federal Home Loan Bank System remains the same as it is today: to provide a stable and reliable source of liquidity to the nation's financial institutions. Over the past 90 years, the importance of this mission has shone through in every operating environment, and Congress itself has continued to recognize the vital nature of this aspect of the Home Loan banks' purpose, even calling out the System's "mission of providing liquidity to members" in the Federal Housing Finance Regulatory Reform Act of 2008.

It was also Congress that, nearly 60 years after the creation of the System, established the affordable housing component of our mission, creating our Affordable Housing Program as part of the Financial Institutions Reform, Recovery and Enforcement Act of 1989, with each FHLBank launching its AHP operations in 1990. In the three decades since, we have not only embraced the AHP, but built it into the DNA of our institution. After all, these grants are funded directly from our earnings, so every member of our team contributes to our ability to provide this support.

Our earnings, just like our purpose, flows from our ability to meet the liquidity needs of our members. Last year, presented with a volatile and often uncertain operating environment, our members found certainty within their FHLBNY relationship, increasingly accessing our reliable funding amid the turbulence of the market and growing our advances balances by more than 60 percent during the year. As advances increased, so too did our income, which means more funding available for our housing programs – to the tune of nearly $50 million in grants available in the 2023 AHP and HDP rounds. Liquidity is the driver of our purpose, the driver of our success, and the driver of our ability to make a positive impact in our communities. Simply put, liquidity is both the mission and the means.

**Bolstering Community Support Through the Local Lender**

This mission is reflected across the Federal Home Loan Bank System. Each Federal Home Loan Bank operates as a cooperative, with strong relationships with its members. The System's 6,500 members know that they can rely on Federal Home Loan Bank funding as a source of liquidity, and therefore often incorporate access to our liquidity into their balance sheet management efforts in all operating environments. Our credit products enhance the financial strength of these local lenders, providing you with a reliable source of liquidity to meet the needs of your communities and support their balance sheet management in all operating environments.

Because of this, the Federal Home Loan Bank System not only reduces risk in the financial system, but helps foster a diverse and vibrant national ecosystem of local lenders – one which does not exist in any other country. This means that virtually every community across the nation has access to a local lender, creating lending opportunities not only for housing, but all of the activities that make a community feel like home, from support for small businesses and municipal initiatives to college loans and savings programs. Strong communities need strong local lenders, and our support of these local lenders is how we make our biggest and broadest impact on community development, to the benefit of all Americans.

As always, our entire team is focused on ensuring that the FHLBNY continues to serve as a stable and reliable source of liquidity for our members and communities. The liquidity we provide is vital to the strength of our region, and we are honored to serve this role.

Sincerely,

José R. González

President and Chief Executive Officer

&nbsp;&nbsp; **Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995**<br>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 of 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.<br>