The Federal Home Loan Bank of New York (“we,” “us,” “our,” “the Bank” or the “FHLBNY”) is a federally chartered corporation exempt from federal, state and local taxes except local real property taxes. It is one of eleven district Federal Home Loan Banks (FHLBanks). The FHLBanks are U.S. government-sponsored enterprises (GSEs), organized under the authority of the Federal Home Loan Bank Act of 1932, as amended (FHLBank Act). Each FHLBank is a cooperative owned by member institutions located within a defined geographic district. The members purchase capital stock in the FHLBank and generally receive dividends on their capital stock investment. Our defined geographic district is New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. We provide a readily available, low-cost source of funds for our member institutions.
Total assets decreased to $141.1 billion at September 30, 2019 from $144.4 billion at December 31, 2018, a decrease of $3.3 billion, or 2.3%.
Cash at banks was $53.3 million at September 30, 2019, compared to $85.4 million at December 31, 2018.
Money market investments at September 30, 2019 were $3.9 billion in federal funds sold and $9.9 billion in overnight resale agreements. At December 31, 2018, money market investments were $7.6 billion in federal funds sold and $4.1 billion in overnight resale agreements.