Federal Home Loan Bank of New York Launches 2021 Board of Directors Election Process
NEW YORK, June 28, 2021 / PRNewswire / – The Federal Home Loan Bank of New York (FHLBNY) is now seeking nominations to serve on its Board of Directors (Council) for terms beginning on January 1, 2022, the FHLBNY announced in an electronic communication sent to its members the June 28, 2021.
“The depth and diversity of our board of directors is one of the greatest strengths of the Federal Home Loan Bank of New York“said José R. González, President and CEO of FHLBNY.” The advice provided to management by our board of directors has been particularly beneficial over the past year and a half as our cooperative has continued to serve and support our members and communities throughout the pandemic. As the FHLBNY prepares to play a vital role in the recovery of our region, I encourage all of our members to participate in the electoral process. “
In total, five directorships – one seat representing the FHLBNY New Jersey members, one seat representing the FHLBNY New York members, one seat representing the FHLBNY Porto Rico and US Virgin Islands members, and two independent directors representing the entire district – are up for election in 2021.
The official FHLBNY nomination certificate was included in the communication sent to eligible members on June 28, 2021. Eligible shareholders can, using the certificate, nominate a person for the position of director open in their region depending on whether the shareholder is based in or not in New Jersey, New York Where Porto Rico and the US Virgin Islands.
Separately, those interested in being nominated for the two open independent director positions must first submit an independent director nomination form and curriculum vitae to FHLBNY.
All electronic nomination certificates must be submitted, and all independent director nomination forms and resumes sent by email must be received by the FHLBNY, by 5 p.m. ET to July 29, 2021.
For more information on the election, including a copy of the Independent Director nomination form and a list of key election dates, see our Corporate Governance page at http://www.fhlbny.com/corporate-governance.
Like the FHLBNY itself, the FHLBNY Board of Directors is made up of a talented group of dedicated individuals who benefit from, among other things, demographic diversity (including gender, race and ethnicity). As Members are considering various nominees for Member Director positions to eventually be appointed, FHLBNY notes that officers of member institutions serving below the CEO level are eligible to serve on the FHLBNY Board of Directors. All stakeholders are encouraged to encourage diverse candidates not associated with member institutions to consider applying for vacant Independent Director seats. Stakeholder participation in this year’s director election process is greatly appreciated and will help keep the Board and FHLBNY diverse – and strong.
Questions about the 2021 director election process should be directed to Friend of paul, the attorney general of the FHLBNY, at [email protected].
About the Federal Home Loan 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 March 31, 2021, the FHLBNY serves 322 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.
SOURCE Federal Home Loan Bank of New York