Federal Home Loan Bank of New York Declares 4.40% Dividend for Third Quarter 2021
NEW YORK, November 18, 2021 /PRNewswire/ — The Federal Home Loan Bank of New York (“FHLBNY”) is pleased to announce that, the November 18, 2021, its board of directors has approved a dividend for the third quarter of 2021 of 4.40% (annualised). The dollar amount of the dividend will be approximately $51.8 million. The cash dividend will be distributed to member financial institutions on November 19, 2021.
“Throughout 2021, the Federal Home Loan Bank of New York has been a trusted partner to our members as we work together to serve and support communities in our region,” said José R. González, President and CEO of FHLBNY. “The stability of our franchise – which is seen in our continued ability to deliver a consistent dividend – is key to the overall value of membership.”
Health and economic crises resulting from COVID-19 remain unpredictable and may affect the environment in which FHLBNY operates. Changes in market and business conditions may adversely impact the financial performance and level of dividends of FHLBNY. FHLBNY will continue to assess the potential effects of changes in the environment on its financial performance and dividend strategy.
FHLBNY filed its Form 10-Q for the third quarter of 2021 with the United States Securities and Exchange Commission on November 12, 2021.
Federal Mortgage Bank of New York
The Federal Mortgage Bank of New York is a congressional chartered wholesale bank. It is part of the Federal Home Loan Bank System, a national wholesale banking network of 11 shareholder-owned regional banks. As of September 30, 2021, FHLBNY serves 321 financial institutions in New Jersey, New York, Porto Rico, and the US Virgin Islands. The Federal Home Loan Banks supports the efforts of local members to help provide financing to US homebuyers.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 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. Such statements are based on our current expectations and speak only as of the date hereof. These statements may use forward-looking words, such as “expected”, “expects”, “may”, or their negatives or other variations of these terms. The Bank cautions that, by their nature, forward-looking statements involve risks or uncertainties that actual results could differ materially from those expressed or implied by such forward-looking statements or could affect the extent to which any 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 such as regulations and accounting, rule adjustments or requirements, changes in interest rates, changes in projected business volumes, changes in mortgage asset prepayment periods, the cost of our funding, changes in our membership profile, withdrawal of one or more significant 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 undertake no obligation to publicly revise or update any forward-looking statements for any reason.
CONTACT: Brian Finnegan
SOURCE Federal Home Loan Bank of New York