Federal Home Loan Bank of New York Files Form 8-K with SEC

Strategic Insights -

The Federal Home Loan Bank of New York has filed a current report (Form 8-K) with the Securities and Exchange Commission (SEC) on August 23, 2022, detailing the Bank's financial situation and obligations. According to the report, the Bank obtains most of its funds from the sale of debt securities, known as consolidated obligations, in the capital markets. These consolidated obligations are sold to the public through the Office of Finance using authorized securities dealers. The Bank's consolidated obligations are backed only by the financial resources of the eleven Federal Home Loan Banks and are not guaranteed by the United States government.

Key Takeaways:

  • The Federal Home Loan Bank of New York obtains most of its funds from the sale of consolidated obligations in the capital markets.
  • Consolidated obligations consist of bonds and discount notes that are the joint and several obligations of the eleven Federal Home Loan Banks.
  • The Federal Home Loan Banks are regulated by the Federal Housing Finance Agency (Finance Agency), which has the authority to require any Federal Home Loan Bank to repay all or a portion of the principal of or interest on consolidated obligations.
  • Consolidated obligations are sold to the public through the Office of Finance using authorized securities dealers.
  • Consolidated obligations are backed only by the financial resources of the eleven Federal Home Loan Banks and are not guaranteed by the United States government.
  • The Bank has no securities registered under Section 12(b) of the Securities Exchange Act of 1934.

Statistics:

  • The Bank obtains most of its funds from the sale of debt securities, which is a significant source of revenue.
  • The consolidated obligations sold by the Bank are the joint and several obligations of the eleven Federal Home Loan Banks.
  • The Finance Agency has the authority to require any Federal Home Loan Bank to repay all or a portion of the principal of or interest on consolidated obligations.
  • The payment of consolidated obligations is backed only by the financial resources of the eleven Federal Home Loan Banks.

Sources:

  • UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 (Form 8-K filing, August 23, 2022)