First Time Borrower's Guide
Step 1: Select Advance Step 2: Determine Collateral Step 3: Initiate Advance Step 4: Receive Funds Step 5: Review Transaction

 

 

Calling Officers:
(212) 441-6700

 

Member Services Desk:
(212) 441-6600 or
(800) 546-5101, option 1

 

1Link Helpdesk:
(800) 546-5101, option 1

 

Step 3: Initiate the Advance

Now you are ready to initiate your first Advance. All you need is:

  1. Your account number
  2. The advance structure you are interested in
  3. The amount* and term of the advance
  4. The type of collateral you will be using

Once you have all this information, contact a Member Services Desk Representative or your Calling Officer to complete the advance request.

You can also use 1Link to initiate short-term advances (under one year). To view a quick tutorial on how to create an advance transaction on 1Link, click here.

Benefits of initiating short-term advances through 1Link:

  • Initiate transactions conveniently from your PC with "live" advance rate updates
  • Request real-time rate indications on advance products, where applicable
  • Create short-term, forward-start advances
  • Rollover or payoff maturing advances in a single transaction
  • Access and view your current day advance transaction status any time
  • Check to see which advances are maturing each day
  • Verify your FHLBNY portfolio of outstanding advances, FHLBNY stockholdings and collateral availability

 

* The FHLBNY’s current Capital Plan requires a stock purchase of 4.5% of the borrowed amount.

 

 

 

 

Calling Officers:
(212) 441-6700

 

Member Services Desk:
(212) 441-6600 or
(800) 546-5101, option 1

 

1Link Helpdesk:
800-546-5101, option 1
 
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