Federal Home Loan Bank Of New York
Filed: 10 Feb 21, 10:00am
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 2, 2020
Federal Home Loan Bank of New York
(Exact name of Registrant as Specified in Its Charter)
Federally Chartered Corporation
(State or Other Jurisdiction
|(Commission File Number)|
101 Park Avenue,
New York, New York
(Address of Principal Executive Offices)
Registrant’s Telephone Number, Including Area Code: (212) 441-6616
(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 (see General Instructions A.2. below):
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Securities registered pursuant to Section 12(b) of the Act:
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Emerging growth company ☐
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Item 3.03 Material Modification to Rights of Security Holders.
Item 8.01 Other Events.
On September 2, 2020, the Federal Home Loan Bank of New York ("FHLBNY") filed a Form 8-K indicating that on September 2, 2020, the FHLBNY notified its members of its amended Capital Plan (“Plan”) which became effective October 2, 2020. The FHLBNY noted that the amended Plan included a capital stock purchase requirement for all new and renewing Letters of Credit. At the time, the FHLBNY said that the specific purchase requirement would be announced by the FHLBNY at least 10 days ahead of the implementation date, that the implementation of the new purchase requirement was expected to take place no later than March 31, 2021, and that the purchase requirement would be between 0.10% and 2.50% of the outstanding principal balance of new and renewing Letters of Credit.
On February 10, 2021, the FHLBNY announced to its members that, effective March 1, 2021, the FHLBNY will implement an activity-based capital stock purchase requirement of 0.125% on the outstanding principal balance of new and renewing Letters of Credit issued by the FHLBNY on a Member’s behalf.
The foregoing is qualified in its entirety by reference to a copy of the amended Plan included herein as Exhibit 4.1 to this Current Report on Form 8-K.
|4.1||Amended and Restated Capital Plan of the Federal Home Loan Bank of New York, effective as of October 2, 2020 (with update to Appendix I effective as of March 1, 2021).|
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 thereunto duly authorized.
|Federal Home Loan Bank of New York|
|Date: February 10, 2021||By:|
/s/ Kevin M. Neylan
Name: Kevin M. Neylan
Title: Senior Vice President and Chief Financial Officer