Give Your Institution the Strategic Flexibility to Maintain a Competitive Edge

As a true cooperative, all of our members are treated equally, regardless of asset size; your institution will receive the same terms, whether you are borrowing $1 million or $100 million.

Overnight Advance

A quick source of liquidity to help manage daily cash flows and provide funding for various short-term uses

Advantages:

• Same-day access to funds for immediate cash needs
• Ability to borrow up to maximum borrowing capacity
• No additional borrowing limit restrictions above standard HLB credit and collateral limits
• No set-up or renewal fees
• Can be initiated conveniently through 1Link^sm, our secure internet banking system 

Fixed-Rate Advance

Achieve a wide variety of financial management goals, with maturities ranging from overnight to 30 years*

Advantages:

• Meet liquidity needs
• Fund long-term assets
• Lock in rates for future funding purposes
• Forward start dates are available
• Available with Symmetry for non Community Lending Program Advances with maturities of one year or greater and minimum advance size of $3 million

The FHLBNY also offers the Callable Fixed-Rate Advance, where the borrower has the option of prepaying funding without any penalty. Please contact a Calling Officer for more information.

*Dependent on financial condition and member type

Repo Advance

Obtain preferential pricing when using Treasury or Agency issued Mortgage-Backed, or CMO securities collateral

Advantages:

• Effectively utilize your securities portfolio as collateral and obtain improved advance pricing
• No penalties for pledging smaller blocks of securities
• Receive the same low rates for AAA-rated Agency and Non-Agency securities
• Maturities from 2 days to 10 years
• Available with Symmetry for Fixed-rate, non Community Lending Program Advances with maturities of one year or greater and minimum advance size of $3 million

Adjustable-Rate Credit (ARC) Advance

Match the interest rate characteristics of your adjustable-rate loan portfolio

Advantages:

• Reduce basis risk by funding adjustable rate assets with financing tied to the same repricing index
• Can be tailored to meet specific financing needs with a wide range of maturities, up to 30 years
• Can be linked to a wide variety of indices, including 1-, 3-, and 6-month LIBOR, Treasury bills, notes, and bonds, and Fed Funds
• Can limit exposure to rising and falling interest rates by using embedded options

Fixed-Rate Advance with a LIBOR Cap

Combines a fixed-rate borrowing with an embedded interest-rate cap in which the rate remains fixed but may be reduced quarterly if 3-month LIBOR rises above the pre-selected cap

Advantages:

• Provides protection against rising interest rates (lowers your institution’s cost of funds as rates rise)
• Flexible medium-long-term funding option best used to extend liabilities, potentially enhance spreads, and preserve margins
• Available with Symmetry for non Community Lending Program Advances with maturities of one year or greater and minimum advance size of $5 million

For more information on how the Fixed Rate with Cap can help meet your institution’s funding needs please visit our Fixed-Rate Advance with a LIBOR Cap Page.

Amortizing Advance

Match the amortization characteristics of your fixed-rate mortgages and mortgage-backed security portfolios

Advantages:

• Enhance match funding of long-term assets
• Borrow fixed-rate funds with the option of customizing the amortization schedule to match a selected prepayment profile
• Maturities and amortization schedule from 1 to 30 years

Callable Advance

An advance with built-in prepayment options that can help members reduce interest rate risk and prepayment risk at minimal added cost

Advantages:

• No prepayment fees when "called" after the pre-determined lockout period
• Offers protection amidst rising rates with flexibility to lower your cost of funds in static and declining rate environments
• Tool to mitigate both interest rate and prepayment risks

For more information on how the Callable Advance can help meet your institution’s funding needs read our Strategies article.

Interest Rate Swaps

Reduce risk in your balance sheet caused by the fluctuations in interest rates with these instruments, which normally involve an exchange of a fixed for a floating-rate payment, such as LIBOR, based on a specified principal amount

Advantages:

• Lower the cost of funding
• Hedge interest rate exposure or increase the certainty of future funding costs
• Achieve asset/liability management goals

Note: Available for institutions with total assets less than $10 billion

Interest Rate Caps, Collars & Floors

Reduces income fluctuations caused by interest rate volatility

Advantages:

• Caps - can protect you against a rise in interest rates and limit the interest cost on a floating-rate liability
• Floors - can limit the impact to earnings from significant declines in interest rates
• Collars - gives you protection against both rising and falling interest rates

Note: Available for institutions with total assets less than $10 billion

Putable Advance

A wide array of maturities and lockouts for medium- to long-term funding where the HLB owns an option to terminate the advance at specified times

Advantages:

• Competitive pricing
• Customize maturities from 2 to 10 years and lockout periods from 1 year or greater
• One-time or quarterly option exercise
• Customized strikes are available

› View Putable Rate Information

Principal-Deferred Advance (PDA)

A hybrid advance product that combines elements of the Fixed-Rate and Amortizing Advance. It begins as a Fixed-Rate Advance, allowing members to choose a specific amount of time they would like to defer the principal payment of the advance up to 5 years. When the lockout or principal-deferred period ends, the advance becomes an Amortizing Advance, where the member makes principal and interest payments on the loan up to another 30 years.

Advantages:

• Valuable asset/liability management tool
• Fully amortizing (back-end) with a choice of varying balloon terms
• Mirrors characteristics of a typical construction deal with a permanent take-out
• No embedded options in the advance

For more information on how the PDA can help meet your institution’s funding needs please visit our PDA Page.

Advance Rebate Program

Provides members with a cash rebate on a portion of the fees paid relating to the early extinguishment of eligible advances when new eligible advances are obtained within 30 calendar days. To receive the cash rebate, the prepaid advance(s) must have a remaining term of one year or longer, and new advance(s) must have a term of six months or longer.

Advantages:

• Members receive cash rebate
• Provides additional flexibility with balance sheet management
• Strengthens and adds value to your Co-op

For more information, please view Advance Rebate Program details or contact your Calling Officer at (212) 441-6700 (terms and restrictions apply).