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February 10, 2021

Update to the Member Products Guide & Correspondent Services Manual

The Federal Home Loan Bank of New York (“FHLBNY”) has updated its Member Products Guide (“Guide”) and the Correspondent Services Manual (“Manual”). The Guide and the Manual detail the FHLBNY’s credit, collateral and correspondent services standards and can assist you in finding helpful information on FHLBNY product and services matters (e.g. requirements for advance borrowings, eligible collateral types and service fee schedules).

Both documents can be found by signing on to 1Link®, the FHLBNY’s internet banking system, and clicking on the ‘Manuals and Guides’ tab. The Guide and Manual are updated as needed throughout the year.

Changes to the Guide effective as of 2/2021 include:

Updates to the language that define Large Member Borrowers and their corresponding credit limits, which replaces the section relating to “Members who are the principal operating banking subsidiary of Global Systemically Important Bank (page 8).

Clarification that the FHLBNY offers SOFR-Linked Advances (page 18).

Approval of Participation Certificates for Mortgage Loans Held in a Trust outlines specific requirements for pledging participation certificates for mortgage collateral held in a trust (page 41).

Confirmation that no Fee changes have been made for 2021 (Appendixes 1-3).

Remaining changes were conforming in nature.

Changes to the Manual effective as of 2/2021 include:

Updates to the accepted Signatures on the GAF (page 14).

Remaining changes were conforming in nature.

If you have any questions about the FHLBNY’s Manual or Guide, please contact your Relationship Manager at (212) 441-6700, or the Member Service Desk at 1-800-546-5101 (option 1).

Thank you for your support.

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03/21/2024	2024 Update to the Member Products Guide (March 2024)
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01/02/2024	Introducing HDP® Plus from the FHLBNY
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10/17/2023	2023 FHLBNY Board Elections Are Underway
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08/23/2023	Price Incentives for Advances Executed Before Noon - Starting Tuesday, September 5, 2023
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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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Update to the Member Products Guide & Correspondent Services Manual

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