0001299933-15-000659.txt : 20150429 0001299933-15-000659.hdr.sgml : 20150429 20150429085928 ACCESSION NUMBER: 0001299933-15-000659 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20150429 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20150429 DATE AS OF CHANGE: 20150429 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Federal Home Loan Bank of New York CENTRAL INDEX KEY: 0001329842 STANDARD INDUSTRIAL CLASSIFICATION: FEDERAL & FEDERALLY-SPONSORED CREDIT AGENCIES [6111] IRS NUMBER: 136400946 STATE OF INCORPORATION: X1 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-51397 FILM NUMBER: 15810264 BUSINESS ADDRESS: STREET 1: 101 PARK AVENUE, 5TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10178 BUSINESS PHONE: 212-681-6000 MAIL ADDRESS: STREET 1: 101 PARK AVENUE, 5TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10178 8-K 1 htm_51710.htm LIVE FILING Federal Home Loan Bank of New York (Form: 8-K)  

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

     
Date of Report (Date of Earliest Event Reported):   April 29, 2015

Federal Home Loan Bank of New York
__________________________________________
(Exact name of registrant as specified in its charter)

     
Federally Chartered Corporation 000-51397 136400946
_____________________
(State or other jurisdiction 		_____________
(Commission 		______________
(I.R.S. Employer
of incorporation) File Number) Identification No.)
      
101 Park Avenue, Floor 5, New York, New York   10178-0599
_________________________________
(Address of principal executive offices) 		  ___________
(Zip Code)
     
Registrant’s telephone number, including area code:   212-441-6616

Not Applicable
______________________________________________
Former name or former address, if changed since last report

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition.





Item 8.01 Other Events.

On April 29, 2015, the Federal Home Loan Bank of New York ("FHLBNY") issued a Press Release regarding among other information, unaudited financial results for the quarter ended March 31, 2015. A copy of the FHLBNY’s Press Release is attached hereto as Exhibit 99.1.





Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

99.1 FHLBNY Press Release, dated April 29, 2015, regarding the quarter ended March 31, 2015.





SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

         
    Federal Home Loan Bank of New York
          
April 29, 2015   By:   /s/ Kevin M. Neylan
       
        Name: Kevin M. Neylan
        Title: Senior Vice President and Chief Financial Officer

Exhibit Index


     
Exhibit No.   Description
 
99.1
  FHLBNY Press Release, dated April 29, 2015, regarding the quarter ended March 31, 2015.
EX-99.1 2 exhibit1.htm EX-99.1 EX-99.1

FOR IMMEDIATE RELEASE
April 29, 2015

CONTACT: Eric Amig
(212) 441-6807
Brian Finnegan
(212) 441-6877

FEDERAL HOME LOAN BANK OF NEW YORK
ANNOUNCES FIRST QUARTER 2015 OPERATING HIGHLIGHTS

 

New York, NY – The Federal Home Loan Bank of New York (“FHLBNY”) today released its unaudited financial highlights for the quarter ended March 31, 2015.

“During the first three months of 2015, the Federal Home Loan Bank of New York continued to meet the needs of our members as they work to strengthen and support the communities they serve,” said José R. González, president and CEO of the FHLBNY. “We continued to perform well in the quarter, and this consistent performance reaffirms our cooperative as a reliable and dependable partner for our members.”

Highlights from the first quarter of 2015 include:  

  •   Net income for the quarter was $88.2 million, an increase of $12.8 million, or 16.9 percent, from net income of $75.4 million for the first quarter of 2014.  The increase was primarily due to fees generated from prepayment of advances by members, as well as gains on derivative and hedging activity during the quarter.  Return on average equity (“ROE”) for the quarter was 5.56 percent, compared to ROE of 4.79 percent for the first quarter of 2014.

  •   As of March 31, 2015, total assets were $119.4 billion, a decrease of $13.4 billion, or 10.1 percent, from total assets of $132.8 billion at December 31, 2014.  This decline in total assets was driven primarily by lower advances balances during the period. As of March 31, 2015, advances were $88.5 billion, a decrease of $10.3 billion, or 10.4 percent, from $98.8 billion at December 31, 2014.

  •   As of March 31, 2015, total capital was $6.1 billion, a decrease of $400.0 million, or 6.2 percent, from total capital of $6.5 billion as of December 31, 2014.  The FHLBNY’s unrestricted retained earnings increased during the quarter by $6.3 million to $869.0 million as of March 31, 2015. The FHLBNY increased its restricted retained earnings by $17.6 million during the quarter to $237.7 million as of March 31, 2015.  At March 31, 2015, the Bank met its regulatory capital-to-assets ratios and liquidity requirements.
 

The FHLBNY currently expects to file its Form 10-Q for the first quarter of 2015 with the U.S. Securities and Exchange Commission on or before May 12, 2015.

Federal Home Loan Bank of New York
The Federal Home Loan Bank of New York is a Congressionally chartered, wholesale Bank. It is part of the Federal Home Loan Bank System, a national wholesale banking network of 12 regional, stockholder-owned banks. The FHLB of New York currently serves more than 330 financial institutions in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. The Federal Home Loan Banks support the efforts of local members to help provide financing for America’s 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. These statements are based upon 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 these terms. The Bank cautions that, by their nature, forward-looking statements involve risk or uncertainty and that actual results could differ materially from those expressed or implied in these forward-looking statements or could affect the extent to which a particular objective, projection, estimate, or prediction is realized. These forward-looking statements involve risks and uncertainties including, but not limited to, regulatory and accounting 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 membership profile, the withdrawal of one or more large members, competitive pressures, shifts in demand for our products, and general economic conditions. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.

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