Federal Home Loan Bank of New York Announces 2021 Board Election Results

NEW YORK, December 6, 2021 / PRNewswire / – The Federal Home Loan Bank of New York (“FHLBNY”) today announced the results of the 2021 election for three positions on the FHLBNY Board of Directors, each of which will begin to serve on January 1st, 2022. The terms of all positions will be for four years, expiring on December 31, 2025.

The precise results of the election, which took place on November 30, 2021, were the following:

  • Mr. Thomas R. Cangemi was elected by the elected officials of the FHLBNY New York members to serve as a representative administrator member New York. Mr. Cangemi is Chairman, President and CEO of New York Community Bank.
  • Mr. Larry E. Thompson was re-elected and Ms. Josie j thomas was elected by eligible FHLBNY district-wide members to serve as independent directors. Mr. Thompson’s current term expires on December 31, 2021; he is currently vice-chairman of the board of directors of the FHLBNY. Mr. Thompson is the former Vice Chairman of The Depository Trust & Clearing Corporation. Ms. Thomas is a former executive of ViacomCBS.

As previously announced, Mr. Carlos J. Vázquez has been re-elected to the post of Director Member Representative Porto Rico & the US Virgin Islands, and M. Gerald L. Reeves was elected to serve as a directing member representing New Jersey. Each was the only candidate for their respective Open Member Director seat, and they accepted their nominations; as such, no formal electoral process was required. The terms of these positions will also be for a period of four years, starting from January 1, 2022 and expiring on December 31, 2025. Mr. Vázquez’s current term expires on December 31, 2021. He is executive vice president and director of Banco Popular de Puerto Rico. Mr. Reeves is President, CEO and Director of Sturdy Savings Bank.

“The Federal Mortgage Bank of New York benefits greatly from the depth and breadth of our Board of Directors, which strengthens our ability to meet the needs of our members and the communities we serve, ”said José R. González, President and CEO of the FHLBNY. “I look forward to continuing to benefit from the guidance provided by Vice President Thompson and Director Vázquez, and I am excited by the insights and experiences that Mr. Cangemi, Mr. Reeves and Ms. Thomas will bring to their new roles. My colleagues and I at FHLBNY will continue to work closely with all of our directors to ensure that the co-op remains a reliable strategic partner for our members. “

Federal Mortgage Bank of New York
The Federal Mortgage Bank of New York is a congressionally licensed wholesale bank. It is part of the Federal Home Loan Bank System, a national wholesale banking network of 11 regional banks owned by shareholders. From September 30, 2021, the FHLBNY serves 321 financial institutions in New Jersey, New York, Porto Rico, and the US Virgin Islands. The Federal Home Loan Banks support the efforts of local members to help provide financing to American homebuyers.

Safe Harbor Declaration under the Private Securities Litigation Reform Act 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 on 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 such terms. The Bank cautions that, by their nature, forward-looking statements involve risks or uncertainties and that actual results could differ materially from those expressed or implied in such forward-looking statements or could affect the extent to which an objective, projection , an estimate, or the prediction is made. These forward-looking statements involve risks and uncertainties, including, but not limited to, the risk factors set forth in our annual reports on Form 10-K and our quarterly reports on Form 10-Q filed with the SEC, as well. as in 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 profile of members, the withdrawal of one or more important members, competitive pressures, changes in demand for our products and general economic conditions. Forward-looking statements speak only as of the date they are made, and we assume no obligation to publicly revise or update any forward-looking statements for any reason.

CONTACT: Brian finnegan
(212) 441-6877

SOURCE Federal Home Loan Bank of New York

Bernadine J. Perkins