Bulletins

Bulletin 21

FHLBNY Announces Rebate Program for Advances

The Federal Home Loan Bank of New York (the “FHLBNY” or the “Bank”) is pleased to announce an advance prepayment Rebate Program. Under the Rebate Program, which represents a new enhancement to our current advance prepayment methodology, the FHLBNY will provide members with a cash rebate on a portion of the fees paid relating to the early extinguishment of Eligible Advances when new Eligible Advances are obtained within 30 calendar days¹. To receive the cash rebate, the prepaid advance(s) must have a remaining term of one year or longer, and new
advance(s) must have a term of six months or longer.

The Rebate Program is designed to:

be responsive to member needs and enhance the value of our advance offerings;
offer members additional flexibility with balance sheet management; and
strengthen and add value to your Co-op.

The amount of the actual rebate is dependent upon the characteristics of the prepaid and new advance(s), e.g., product type, origination date, principal amounts, and duration. The FHLBNY’s regular advance terms and conditions will apply, and the Bank reserves the right in its sole discretion to amend, rescind, or reinstate the Rebate Program at any time.

How it works:

Member prepays an outstanding Eligible Advance that has a term remaining to maturity of at least one year.
Member decides to obtain a new Eligible Advance with a term of six months or greater within 30 days from prepayment (called the Rebate Window).
Member receives the rebate in cash.

For more information on the Rebate Program, including eligibility requirements, please contact your Relationship Manager at (212) 441-6700.

¹Advances booked under the Community Lending Program and advances with remaining maturities of less than one year are not Eligible Advances. Members that have already prepaid Eligible Advances since October 1, 2015 will qualify for a rebate if they book new Eligible Advances by December 31, 2015.

12/30/2024	Frequent Collateral Shortfall Activity
10/08/2024	Additional funding has been added to the 0% Development Advance (ZDA) Program
08/30/2024	2024 Update to the Member Products Guide
07/22/2024	The 2024 Small Business Recovery Grant Program
06/03/2024	FHLBNY Affordable Housing Advisory Council Open Nomination Period – For 2025 Service
04/30/2024	Update to Forward Starting Advances
03/21/2024	2024 Update to the Member Products Guide (March 2024)
01/25/2024	2024 Update to the Member Products Guide & Correspondent Services Manual
01/02/2024	Introducing HDP® Plus from the FHLBNY
10/30/2023	Coming Soon: The 2023 Small Business Recovery Grant Program
10/26/2023	Municipal Bonds are Now Eligible Collateral
10/17/2023	2023 FHLBNY Board Elections Are Underway
10/05/2023	Update to the Member Products Guide & Correspondent Services Manual
09/11/2023	Introducing a New URL to Access Your FHLBNY Systems
08/23/2023	Price Incentives for Advances Executed Before Noon - Starting Tuesday, September 5, 2023
07/05/2023	FHLBNY Affordable Housing Advisory Council Open Nomination Period – For 2024 Service
06/30/2023	2023 Update to the Member Products Guide
06/05/2023	Coming Soon: Expansion of Our 0% Advance Offerings
02/22/2023	Notice of FHLB Members Selected For Community Review (Effective February 23, 2023)
01/20/2023	2023 Update to the Member Products Guide & Correspondent Services Manual
11/16/2022	Prepare for the 1Link Migration in December 2022
09/28/2022	2022 Update to MPG & CSM: Member Products Guide & Correspondent Services Manual
09/23/2022	Reintroducing Putable Advances, Fixed-Rate Advances with SOFR Cap and ARC Advances with Cap/Floor
07/05/2022	FHLBNY Affordable Housing Advisory Council Open Nomination Period
06/24/2022	Amendment to the FHLBNY Capital Plan Appendix Effective August 1, 2022
04/07/2022	Wire Transfers Migration to 1Link-IPR
01/24/2022	FHLBNY Announces Enhancements to the Rebate Program for Advances
01/03/2022	2022 Update to MPG & CSM: Member Products Guide and the Correspondent Services Manual
12/03/2021	Updates to the 2022 Fee Schedules
08/24/2021	Important Announcement for Community Lending Programs Users
07/28/2021	An Enhancement to our Callable Adjustable Rate Credit Advance (Callable ARC)
07/20/2021	RSA SecurID® for 1Link-IPR Coming Soon
07/14/2021	Important Announcement Regarding the Upcoming FHLBNY Homepage Update
07/02/2021	FHLBNY CICA Disaster Relief Funding Update
04/14/2021	Enhancements to the Refundable Municipal Letter of Credit for Members Participating in the New Jersey Department of Banking and Insurance GUDPA Program
03/01/2021	Notice of FHLB Members Selected For Community Review (Effective March 1, 2021)
02/10/2021	FHLBNY Capital Stock Purchase Requirement for Letters of Credit (Effective March 1, 2021)
02/10/2021	2021 Update to MPG & CSM: Member Products Guide and the Correspondent Services Manual
12/03/2020	2020 Update to MPG & CSM: Member Products Guide and the Correspondent Services Manual
09/02/2020	Amendments to the FHLBNY Capital Plan (Effective October 2, 2020)
07/30/2020	FHLBNY CICA Disaster Relief Funding: Eligibility Expansion
05/15/2020	Update to the Member Products Guide
06/01/2020	Enhancements to the Refundable MULOC Product
04/23/2020	FHFA Provides Guidance on PPP Loans
01/03/2020	1Link® Migration: Phase I - Interim Portal Roll-out
12/31/2019	2019 Update to MPG & CSM: Member Products Guide and the Correspondent Services Manual (for Jan 2020)
12/17/2019	1Link® Migration: Phase I – Interim Access Portal
11/06/2019	Announcing the Callable Adjustable Rate Credit Advance Pilot Program
09/27/2019	FHLBank System Regulator Provides LIBOR Transition Guidance
06/04/2019	SOFR ARC: FHLBNY is pleased to announce the expansion of the SOFR-Linked ARC Advance Program
03/26/2019	Notice of Federal Home Loan Bank Members Selected For Community Review (March 26, 2019)
01/31/2019	Introducing the Homebuyer Dream Program: A New First-Time Homeowner Grant Program
01/24/2019	2019 Update to MPG & CSM: Member Products Guide and the Correspondent Services Manual
01/04/2019	Announcement of Fannie Mae and Freddie Mac Uniform Mortgage-Backed Security (UMBS)
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FHLBNY Announces Rebate Program for Advances

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