FALSE00013298422026Q312/31xbrli:sharesiso4217:USDiso4217:USDxbrli:sharesxbrli:purefhlbny:segment00013298422026-01-012026-09-3000013298422026-10-3100013298422026-09-3000013298422025-12-3100013298422026-07-012026-09-3000013298422025-07-012025-09-3000013298422025-01-012025-09-300001329842us-gaap:CommonStockMember2025-06-300001329842us-gaap:RetainedEarningsUnappropriatedMember2025-06-300001329842us-gaap:RetainedEarningsAppropriatedMember2025-06-300001329842us-gaap:RetainedEarningsMember2025-06-300001329842us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-06-3000013298422025-06-300001329842us-gaap:CommonStockMember2025-07-012025-09-300001329842us-gaap:RetainedEarningsUnappropriatedMember2025-07-012025-09-300001329842us-gaap:RetainedEarningsMember2025-07-012025-09-300001329842us-gaap:RetainedEarningsAppropriatedMember2025-07-012025-09-300001329842us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-07-012025-09-300001329842us-gaap:CommonStockMember2025-09-300001329842us-gaap:RetainedEarningsUnappropriatedMember2025-09-300001329842us-gaap:RetainedEarningsAppropriatedMember2025-09-300001329842us-gaap:RetainedEarningsMember2025-09-300001329842us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-09-3000013298422025-09-300001329842us-gaap:CommonStockMember2026-06-300001329842us-gaap:RetainedEarningsUnappropriatedMember2026-06-300001329842us-gaap:RetainedEarningsAppropriatedMember2026-06-300001329842us-gaap:RetainedEarningsMember2026-06-300001329842us-gaap:AccumulatedOtherComprehensiveIncomeMember2026-06-3000013298422026-06-300001329842us-gaap:CommonStockMember2026-07-012026-09-300001329842us-gaap:RetainedEarningsUnappropriatedMember2026-07-012026-09-300001329842us-gaap:RetainedEarningsMember2026-07-012026-09-300001329842us-gaap:RetainedEarningsAppropriatedMember2026-07-012026-09-300001329842us-gaap:AccumulatedOtherComprehensiveIncomeMember2026-07-012026-09-300001329842us-gaap:CommonStockMember2026-09-300001329842us-gaap:RetainedEarningsUnappropriatedMember2026-09-300001329842us-gaap:RetainedEarningsAppropriatedMember2026-09-300001329842us-gaap:RetainedEarningsMember2026-09-300001329842us-gaap:AccumulatedOtherComprehensiveIncomeMember2026-09-300001329842us-gaap:CommonStockMember2024-12-310001329842us-gaap:RetainedEarningsUnappropriatedMember2024-12-310001329842us-gaap:RetainedEarningsAppropriatedMember2024-12-310001329842us-gaap:RetainedEarningsMember2024-12-310001329842us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-12-3100013298422024-12-310001329842us-gaap:CommonStockMember2025-01-012025-09-300001329842us-gaap:RetainedEarningsUnappropriatedMember2025-01-012025-09-300001329842us-gaap:RetainedEarningsMember2025-01-012025-09-300001329842us-gaap:RetainedEarningsAppropriatedMember2025-01-012025-09-300001329842us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-01-012025-09-300001329842us-gaap:CommonStockMember2025-12-310001329842us-gaap:RetainedEarningsUnappropriatedMember2025-12-310001329842us-gaap:RetainedEarningsAppropriatedMember2025-12-310001329842us-gaap:RetainedEarningsMember2025-12-310001329842us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-12-310001329842us-gaap:CommonStockMember2026-01-012026-09-300001329842us-gaap:RetainedEarningsUnappropriatedMember2026-01-012026-09-300001329842us-gaap:RetainedEarningsMember2026-01-012026-09-300001329842us-gaap:RetainedEarningsAppropriatedMember2026-01-012026-09-300001329842us-gaap:AccumulatedOtherComprehensiveIncomeMember2026-01-012026-09-300001329842us-gaap:USTreasuryNotesSecuritiesMember2026-09-300001329842us-gaap:USTreasuryNotesSecuritiesMember2025-12-310001329842us-gaap:USTreasuryBillSecuritiesMember2026-09-300001329842us-gaap:USTreasuryBillSecuritiesMember2025-12-3100013298422025-01-012025-12-310001329842us-gaap:CashEquivalentsMember2026-09-300001329842us-gaap:CashEquivalentsMember2026-01-012026-09-300001329842us-gaap:EquityFundsMember2026-09-300001329842us-gaap:EquityFundsMember2026-01-012026-09-300001329842us-gaap:FixedIncomeFundsMember2026-09-300001329842us-gaap:FixedIncomeFundsMember2026-01-012026-09-300001329842us-gaap:CashEquivalentsMember2025-12-310001329842us-gaap:CashEquivalentsMember2025-01-012025-12-310001329842us-gaap:EquityFundsMember2025-12-310001329842us-gaap:EquityFundsMember2025-01-012025-12-310001329842us-gaap:FixedIncomeFundsMember2025-12-310001329842us-gaap:FixedIncomeFundsMember2025-01-012025-12-310001329842fhlbny:HousingAndU.S.ObligationsMember2026-09-300001329842us-gaap:CollateralizedMortgageObligationsMember2026-09-300001329842fhlbny:PassThruMortgageBackedSecuritiesMember2026-09-300001329842fhlbny:AssetBackedSecuritiesFloatingMember2026-09-300001329842fhlbny:CommercialMortgageBackedSecuritiesBeforeHedgingAdjustmentsMember2026-09-300001329842fhlbny:AssetBackedSecuritiesFixedMember2026-09-300001329842fhlbny:AssetBackedSecuritiesBeforeHedgingAdjustmentsMember2026-09-300001329842us-gaap:AssetBackedSecuritiesMember2026-09-300001329842fhlbny:HousingAndU.S.ObligationsMember2025-12-310001329842us-gaap:CollateralizedMortgageObligationsMember2025-12-310001329842fhlbny:PassThruMortgageBackedSecuritiesMember2025-12-310001329842fhlbny:AssetBackedSecuritiesFloatingMember2025-12-310001329842fhlbny:CommercialMortgageBackedSecuritiesBeforeHedgingAdjustmentsMember2025-12-310001329842fhlbny:AssetBackedSecuritiesFixedMember2025-12-310001329842fhlbny:AssetBackedSecuritiesBeforeHedgingAdjustmentsMember2025-12-310001329842us-gaap:AssetBackedSecuritiesMember2025-12-310001329842us-gaap:USGovernmentAgenciesDebtSecuritiesMember2026-09-300001329842us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2026-09-300001329842us-gaap:USGovernmentAgenciesDebtSecuritiesMember2025-12-310001329842us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2025-12-310001329842us-gaap:CommercialMortgageBackedSecuritiesMember2026-09-300001329842us-gaap:CommercialMortgageBackedSecuritiesMember2025-12-310001329842fhlbny:AssetBackedSecuritiesFixedAfterHedgingBasisAdjustmentMember2026-09-300001329842fhlbny:AssetBackedSecuritiesFixedAfterHedgingBasisAdjustmentMember2025-12-310001329842fhlbny:HousingAndU.S.ObligationsFloatingMember2026-09-300001329842fhlbny:HousingAndU.S.ObligationsFloatingMember2025-12-310001329842fhlbny:HousingAndU.S.ObligationsFixedMember2026-09-300001329842fhlbny:HousingAndU.S.ObligationsFixedMember2025-12-310001329842us-gaap:MortgageBackedSecuritiesMember2026-09-300001329842fhlbny:CollateralizedMortgageObligationsRealEstateMortgageInvestmentConduitsMember2026-09-300001329842fhlbny:StateAndLocalHousingFinanceAgencyObligationsMember2026-09-300001329842us-gaap:MortgageBackedSecuritiesMember2025-12-310001329842fhlbny:CollateralizedMortgageObligationsRealEstateMortgageInvestmentConduitsMember2025-12-310001329842fhlbny:StateAndLocalHousingFinanceAgencyObligationsMember2025-12-310001329842us-gaap:LenderConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:InsuranceCompaniesMember2026-01-012026-09-300001329842us-gaap:LenderConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:InsuranceCompaniesMember2025-01-012025-12-310001329842fhlbny:MortgagePartnershipFinanceMember2026-09-300001329842fhlbny:MortgagePartnershipFinanceMember2025-12-310001329842fhlbny:MortgageAssetProgramsMember2026-09-300001329842fhlbny:MortgageAssetProgramsMember2025-12-310001329842fhlbny:FixedMediumTermMortgageMember2026-09-300001329842fhlbny:FixedMediumTermMortgageMember2025-12-310001329842fhlbny:FixedLongTermMortgageMember2026-09-300001329842fhlbny:FixedLongTermMortgageMember2025-12-310001329842us-gaap:NonperformingFinancingReceivableMember2026-09-300001329842us-gaap:NonperformingFinancingReceivableMember2025-12-310001329842us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2026-09-300001329842us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2025-12-310001329842us-gaap:ConventionalLoanMember2026-09-300001329842us-gaap:ConventionalLoanMember2025-12-310001329842us-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2026-09-300001329842us-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2025-12-310001329842us-gaap:ConventionalLoanMemberfhlbny:FinancialAssetEqualToOrGreaterThan30DaysPastDueMember2026-09-300001329842us-gaap:ConventionalLoanMemberfhlbny:FinancialAssetEqualToOrGreaterThan30DaysPastDueMember2025-12-310001329842fhlbny:ConsolidatedObligationBondsMember2026-09-300001329842fhlbny:ConsolidatedObligationBondsMember2025-12-310001329842fhlbny:ConsolidatedObligationDiscountNotesMember2026-09-300001329842fhlbny:ConsolidatedObligationDiscountNotesMember2025-12-310001329842fhlbny:FixedRateNonCallableMemberfhlbny:ConsolidatedObligationBondsMember2026-09-300001329842fhlbny:FixedRateNonCallableMemberfhlbny:ConsolidatedObligationBondsMember2025-12-310001329842fhlbny:FixedRateCallableMemberfhlbny:ConsolidatedObligationBondsMember2026-09-300001329842fhlbny:FixedRateCallableMemberfhlbny:ConsolidatedObligationBondsMember2025-12-310001329842fhlbny:StepUpCallableMemberfhlbny:ConsolidatedObligationBondsMember2026-09-300001329842fhlbny:StepUpCallableMemberfhlbny:ConsolidatedObligationBondsMember2025-12-310001329842fhlbny:StepDownCallableMemberfhlbny:ConsolidatedObligationBondsMember2026-09-300001329842fhlbny:StepDownCallableMemberfhlbny:ConsolidatedObligationBondsMember2025-12-310001329842fhlbny:FloatingRateCallableMemberfhlbny:ConsolidatedObligationBondsMember2026-09-300001329842fhlbny:FloatingRateCallableMemberfhlbny:ConsolidatedObligationBondsMember2025-12-310001329842fhlbny:SingleIndexFloatingRateMemberfhlbny:ConsolidatedObligationBondsMember2026-09-300001329842fhlbny:SingleIndexFloatingRateMemberfhlbny:ConsolidatedObligationBondsMember2025-12-310001329842fhlbny:QualifiedDefinedBenefitPlanMember2026-07-012026-09-300001329842fhlbny:QualifiedDefinedBenefitPlanMember2025-07-012025-09-300001329842fhlbny:QualifiedDefinedBenefitPlanMember2026-01-012026-09-300001329842fhlbny:QualifiedDefinedBenefitPlanMember2025-01-012025-09-300001329842fhlbny:NonQualifiedDeferredCompensationPlanMember2026-07-012026-09-300001329842fhlbny:NonQualifiedDeferredCompensationPlanMember2025-07-012025-09-300001329842fhlbny:NonQualifiedDeferredCompensationPlanMember2026-01-012026-09-300001329842fhlbny:NonQualifiedDeferredCompensationPlanMember2025-01-012025-09-300001329842fhlbny:QualifiedDefinedContributionPlanMember2026-07-012026-09-300001329842fhlbny:QualifiedDefinedContributionPlanMember2025-07-012025-09-300001329842fhlbny:QualifiedDefinedContributionPlanMember2026-01-012026-09-300001329842fhlbny:QualifiedDefinedContributionPlanMember2025-01-012025-09-300001329842fhlbny:PostretirementHealthBenefitPlanMember2026-07-012026-09-300001329842fhlbny:PostretirementHealthBenefitPlanMember2025-07-012025-09-300001329842fhlbny:PostretirementHealthBenefitPlanMember2026-01-012026-09-300001329842fhlbny:PostretirementHealthBenefitPlanMember2025-01-012025-09-300001329842us-gaap:InterestRateSwapMember2026-09-300001329842us-gaap:InterestRateSwapMember2025-12-310001329842us-gaap:InterestRateCapMember2026-09-300001329842us-gaap:InterestRateCapMember2025-12-310001329842fhlbny:MortgageDeliveryCommitmentsMember2026-09-300001329842fhlbny:MortgageDeliveryCommitmentsMember2025-12-310001329842us-gaap:OverTheCounterMember2026-09-300001329842us-gaap:OverTheCounterMember2025-12-310001329842us-gaap:ExchangeClearedMember2026-09-300001329842us-gaap:ExchangeClearedMember2025-12-310001329842us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMember2026-09-300001329842us-gaap:DesignatedAsHedgingInstrumentMember2026-09-300001329842us-gaap:NondesignatedMemberus-gaap:InterestRateSwapMember2026-09-300001329842us-gaap:NondesignatedMemberus-gaap:InterestRateCapMember2026-09-300001329842us-gaap:NondesignatedMemberfhlbny:MortgageDeliveryCommitmentsMember2026-09-300001329842us-gaap:NondesignatedMember2026-09-300001329842us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMember2025-12-310001329842us-gaap:DesignatedAsHedgingInstrumentMember2025-12-310001329842us-gaap:NondesignatedMemberus-gaap:InterestRateSwapMember2025-12-310001329842us-gaap:NondesignatedMemberus-gaap:InterestRateCapMember2025-12-310001329842us-gaap:NondesignatedMemberfhlbny:MortgageDeliveryCommitmentsMember2025-12-310001329842us-gaap:NondesignatedMember2025-12-310001329842us-gaap:InterestRateContractMember2026-07-012026-09-300001329842us-gaap:InterestRateContractMember2025-07-012025-09-300001329842us-gaap:InterestRateContractMember2026-01-012026-09-300001329842us-gaap:InterestRateContractMember2025-01-012025-09-300001329842us-gaap:FederalHomeLoanBankAdvancesMember2026-09-300001329842us-gaap:AvailableforsaleSecuritiesMember2026-09-300001329842fhlbny:ConsolidatedObligationBondsMember2026-09-300001329842fhlbny:ConsolidatedObligationDiscountNotesMember2026-09-300001329842us-gaap:FederalHomeLoanBankAdvancesMember2025-12-310001329842us-gaap:AvailableforsaleSecuritiesMember2025-12-310001329842fhlbny:ConsolidatedObligationBondsMember2025-12-310001329842fhlbny:ConsolidatedObligationDiscountNotesMember2025-12-310001329842us-gaap:InterestRateContractMemberus-gaap:InterestExpenseOperating2026-07-012026-09-300001329842us-gaap:InterestRateContractMemberus-gaap:NoninterestIncome2026-07-012026-09-300001329842us-gaap:InterestRateContractMemberus-gaap:InterestExpenseOperating2025-07-012025-09-300001329842us-gaap:InterestRateContractMemberus-gaap:NoninterestIncome2025-07-012025-09-300001329842us-gaap:InterestRateContractMemberus-gaap:InterestExpenseOperating2026-01-012026-09-300001329842us-gaap:InterestRateContractMemberus-gaap:NoninterestIncome2026-01-012026-09-300001329842us-gaap:InterestRateContractMemberus-gaap:InterestExpenseOperating2025-01-012025-09-300001329842us-gaap:InterestRateContractMemberus-gaap:NoninterestIncome2025-01-012025-09-300001329842us-gaap:NotDesignatedAsHedgingInstrumentEconomicHedgeMemberus-gaap:InterestRateContractMember2026-07-012026-09-300001329842us-gaap:NotDesignatedAsHedgingInstrumentEconomicHedgeMemberus-gaap:InterestRateContractMember2025-07-012025-09-300001329842us-gaap:NotDesignatedAsHedgingInstrumentEconomicHedgeMemberus-gaap:InterestRateContractMember2026-01-012026-09-300001329842us-gaap:NotDesignatedAsHedgingInstrumentEconomicHedgeMemberus-gaap:InterestRateContractMember2025-01-012025-09-300001329842us-gaap:NotDesignatedAsHedgingInstrumentEconomicHedgeMemberus-gaap:InterestRateCapMember2026-07-012026-09-300001329842us-gaap:NotDesignatedAsHedgingInstrumentEconomicHedgeMemberus-gaap:InterestRateCapMember2025-07-012025-09-300001329842us-gaap:NotDesignatedAsHedgingInstrumentEconomicHedgeMemberus-gaap:InterestRateCapMember2026-01-012026-09-300001329842us-gaap:NotDesignatedAsHedgingInstrumentEconomicHedgeMemberus-gaap:InterestRateCapMember2025-01-012025-09-300001329842us-gaap:NotDesignatedAsHedgingInstrumentEconomicHedgeMemberfhlbny:MortgageDeliveryCommitmentsMember2026-07-012026-09-300001329842us-gaap:NotDesignatedAsHedgingInstrumentEconomicHedgeMemberfhlbny:MortgageDeliveryCommitmentsMember2025-07-012025-09-300001329842us-gaap:NotDesignatedAsHedgingInstrumentEconomicHedgeMemberfhlbny:MortgageDeliveryCommitmentsMember2026-01-012026-09-300001329842us-gaap:NotDesignatedAsHedgingInstrumentEconomicHedgeMemberfhlbny:MortgageDeliveryCommitmentsMember2025-01-012025-09-300001329842us-gaap:NotDesignatedAsHedgingInstrumentEconomicHedgeMember2026-07-012026-09-300001329842us-gaap:NotDesignatedAsHedgingInstrumentEconomicHedgeMember2025-07-012025-09-300001329842us-gaap:NotDesignatedAsHedgingInstrumentEconomicHedgeMember2026-01-012026-09-300001329842us-gaap:NotDesignatedAsHedgingInstrumentEconomicHedgeMember2025-01-012025-09-300001329842us-gaap:CarryingReportedAmountFairValueDisclosureMember2026-09-300001329842us-gaap:EstimateOfFairValueFairValueDisclosureMember2026-09-300001329842us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel1Member2026-09-300001329842us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2026-09-300001329842us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2026-09-300001329842us-gaap:CarryingReportedAmountFairValueDisclosureMember2025-12-310001329842us-gaap:EstimateOfFairValueFairValueDisclosureMember2025-12-310001329842us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel1Member2025-12-310001329842us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2025-12-310001329842us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2025-12-310001329842us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2026-09-300001329842us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2026-09-300001329842us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2026-09-300001329842us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2026-09-300001329842us-gaap:FairValueMeasurementsRecurringMember2026-09-300001329842us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2026-09-300001329842us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2026-09-300001329842us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2026-09-300001329842us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2026-09-300001329842us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2026-09-300001329842us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2026-09-300001329842us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2026-09-300001329842fhlbny:HousingAndU.S.ObligationsMemberus-gaap:FairValueMeasurementsRecurringMember2026-09-300001329842fhlbny:HousingAndU.S.ObligationsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2026-09-300001329842fhlbny:HousingAndU.S.ObligationsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2026-09-300001329842fhlbny:HousingAndU.S.ObligationsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2026-09-300001329842us-gaap:InterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMember2026-09-300001329842us-gaap:InterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2026-09-300001329842us-gaap:InterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2026-09-300001329842us-gaap:InterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2026-09-300001329842fhlbny:MortgageDeliveryCommitmentsMemberus-gaap:FairValueMeasurementsRecurringMember2026-09-300001329842fhlbny:MortgageDeliveryCommitmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2026-09-300001329842fhlbny:MortgageDeliveryCommitmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2026-09-300001329842fhlbny:MortgageDeliveryCommitmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2026-09-300001329842us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2025-12-310001329842us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-12-310001329842us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-12-310001329842us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-12-310001329842us-gaap:FairValueMeasurementsRecurringMember2025-12-310001329842us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-12-310001329842us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-12-310001329842us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-12-310001329842us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2025-12-310001329842us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-12-310001329842us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-12-310001329842us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-12-310001329842fhlbny:HousingAndU.S.ObligationsMemberus-gaap:FairValueMeasurementsRecurringMember2025-12-310001329842fhlbny:HousingAndU.S.ObligationsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-12-310001329842fhlbny:HousingAndU.S.ObligationsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-12-310001329842fhlbny:HousingAndU.S.ObligationsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-12-310001329842us-gaap:InterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMember2025-12-310001329842us-gaap:InterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-12-310001329842us-gaap:InterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-12-310001329842us-gaap:InterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-12-310001329842fhlbny:MortgageDeliveryCommitmentsMemberus-gaap:FairValueMeasurementsRecurringMember2025-12-310001329842fhlbny:MortgageDeliveryCommitmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-12-310001329842fhlbny:MortgageDeliveryCommitmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-12-310001329842fhlbny:MortgageDeliveryCommitmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-12-310001329842fhlbny:StateAndLocalHousingFinanceAgencyObligationsMember2026-06-300001329842fhlbny:StateAndLocalHousingFinanceAgencyObligationsMember2025-06-300001329842fhlbny:StateAndLocalHousingFinanceAgencyObligationsMember2024-12-310001329842fhlbny:StateAndLocalHousingFinanceAgencyObligationsMember2026-07-012026-09-300001329842fhlbny:StateAndLocalHousingFinanceAgencyObligationsMember2025-07-012025-09-300001329842fhlbny:StateAndLocalHousingFinanceAgencyObligationsMember2026-01-012026-09-300001329842fhlbny:StateAndLocalHousingFinanceAgencyObligationsMember2025-01-012025-09-300001329842fhlbny:StateAndLocalHousingFinanceAgencyObligationsMember2025-09-300001329842us-gaap:FairValueMeasurementsNonrecurringMember2026-09-300001329842us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel1Member2026-09-300001329842us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Member2026-09-300001329842us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2026-09-300001329842us-gaap:FairValueMeasurementsNonrecurringMember2025-12-310001329842us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel1Member2025-12-310001329842us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Member2025-12-310001329842us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2025-12-310001329842fhlbny:ConsolidatedObligationBondsFairValueOptionMember2026-06-300001329842fhlbny:ConsolidatedObligationBondsFairValueOptionMember2025-06-300001329842fhlbny:ConsolidatedObligationDiscountNotesFairValueOptionMember2026-06-300001329842fhlbny:ConsolidatedObligationDiscountNotesFairValueOptionMember2025-06-300001329842fhlbny:ConsolidatedObligationBondsFairValueOptionMember2026-07-012026-09-300001329842fhlbny:ConsolidatedObligationBondsFairValueOptionMember2025-07-012025-09-300001329842fhlbny:ConsolidatedObligationDiscountNotesFairValueOptionMember2026-07-012026-09-300001329842fhlbny:ConsolidatedObligationDiscountNotesFairValueOptionMember2025-07-012025-09-300001329842fhlbny:ConsolidatedObligationBondsFairValueOptionMember2026-09-300001329842fhlbny:ConsolidatedObligationBondsFairValueOptionMember2025-09-300001329842fhlbny:ConsolidatedObligationDiscountNotesFairValueOptionMember2026-09-300001329842fhlbny:ConsolidatedObligationDiscountNotesFairValueOptionMember2025-09-300001329842fhlbny:ConsolidatedObligationBondsFairValueOptionMember2025-12-310001329842fhlbny:ConsolidatedObligationBondsFairValueOptionMember2024-12-310001329842fhlbny:ConsolidatedObligationDiscountNotesFairValueOptionMember2025-12-310001329842fhlbny:ConsolidatedObligationDiscountNotesFairValueOptionMember2024-12-310001329842fhlbny:ConsolidatedObligationBondsFairValueOptionMember2026-01-012026-09-300001329842fhlbny:ConsolidatedObligationBondsFairValueOptionMember2025-01-012025-09-300001329842fhlbny:ConsolidatedObligationDiscountNotesFairValueOptionMember2026-01-012026-09-300001329842fhlbny:ConsolidatedObligationDiscountNotesFairValueOptionMember2025-01-012025-09-300001329842fhlbny:AdvancesFairValueOptionMember2025-09-300001329842fhlbny:AdvancesFairValueOptionMember2026-09-300001329842us-gaap:StandbyLettersOfCreditMember2026-09-300001329842us-gaap:StandbyLettersOfCreditMember2025-12-310001329842fhlbny:ConsolidatedObligationBondsAndDiscountNotesTradedNotSettledMember2026-09-300001329842fhlbny:ConsolidatedObligationBondsAndDiscountNotesTradedNotSettledMember2025-12-310001329842fhlbny:FundAdditionalAdvancesMember2026-09-300001329842fhlbny:FundAdditionalAdvancesMember2025-12-310001329842fhlbny:FundPensionMember2026-09-300001329842fhlbny:FundPensionMember2025-12-310001329842fhlbny:OpenDeliveryCommitmentsMember2026-09-300001329842fhlbny:OpenDeliveryCommitmentsMember2025-12-310001329842srt:MaximumMember2026-09-300001329842srt:MaximumMember2025-12-310001329842us-gaap:ComputerEquipmentMember2023-12-310001329842us-gaap:ComputerEquipmentMember2026-09-300001329842us-gaap:ComputerEquipmentMember2025-12-310001329842fhlbny:DebtAssumptionsMemberus-gaap:RelatedPartyMember2026-01-012026-09-300001329842fhlbny:DebtAssumptionsMemberus-gaap:RelatedPartyMember2025-01-012025-09-300001329842fhlbny:DebtTransfersMemberfhlbny:ConsolidatedObligationBondsMemberus-gaap:RelatedPartyMember2026-05-012026-05-310001329842fhlbny:DebtTransfersMemberfhlbny:ConsolidatedObligationDiscountNotesMemberus-gaap:RelatedPartyMember2026-05-012026-05-310001329842fhlbny:DebtTransfersMemberus-gaap:RelatedPartyMember2025-01-012025-09-300001329842fhlbny:AdvancesSoldOrTransferredMemberus-gaap:RelatedPartyMember2025-01-012025-09-300001329842fhlbny:AdvancesSoldOrTransferredMemberus-gaap:RelatedPartyMember2026-01-012026-09-300001329842fhlbny:MortgagePartnershipFinanceProgramServicesMembersrt:FederalHomeLoanBankOfChicagoMemberus-gaap:RelatedPartyMember2026-09-300001329842fhlbny:MortgagePartnershipFinanceProgramServicesMembersrt:FederalHomeLoanBankOfChicagoMemberus-gaap:RelatedPartyMember2025-12-310001329842fhlbny:MortgagePartnershipFinanceProgramServicesMembersrt:FederalHomeLoanBankOfChicagoMemberus-gaap:RelatedPartyMember2026-07-012026-09-300001329842fhlbny:MortgagePartnershipFinanceProgramServicesMembersrt:FederalHomeLoanBankOfChicagoMemberus-gaap:RelatedPartyMember2026-01-012026-09-300001329842fhlbny:MortgagePartnershipFinanceProgramServicesMembersrt:FederalHomeLoanBankOfChicagoMemberus-gaap:RelatedPartyMember2025-07-012025-09-300001329842fhlbny:MortgagePartnershipFinanceProgramServicesMembersrt:FederalHomeLoanBankOfChicagoMemberus-gaap:RelatedPartyMember2025-01-012025-09-300001329842us-gaap:RelatedPartyMember2025-01-012025-09-300001329842us-gaap:RelatedPartyMember2026-01-012026-09-300001329842us-gaap:RelatedPartyMember2026-09-300001329842us-gaap:RelatedPartyMember2025-12-310001329842fhlbny:CitibankNationalAssociationMemberus-gaap:RelatedPartyMember2026-09-300001329842fhlbny:CitibankNationalAssociationMemberus-gaap:RelatedPartyMember2025-12-310001329842us-gaap:RelatedPartyMember2026-07-012026-09-300001329842us-gaap:RelatedPartyMember2025-07-012025-09-300001329842us-gaap:CustomerConcentrationRiskMemberfhlbny:OneMemberMemberus-gaap:SalesRevenueNetMember2026-01-012026-09-300001329842us-gaap:CustomerConcentrationRiskMemberfhlbny:OneMemberMemberus-gaap:SalesRevenueNetMember2026-07-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:CitibankNationalAssociationMember2026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:CitibankNationalAssociationMember2026-01-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:CitibankNationalAssociationMember2026-07-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:CitibankNationalAssociationMember2026-01-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:MetropolitanLifeInsuranceCompanyMember2026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:MetropolitanLifeInsuranceCompanyMember2026-01-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:MetropolitanLifeInsuranceCompanyMember2026-07-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:MetropolitanLifeInsuranceCompanyMember2026-01-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:MetropolitanTowerLifeInsuranceCompanyMember2026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:MetropolitanTowerLifeInsuranceCompanyMember2026-01-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:MetropolitanTowerLifeInsuranceCompanyMember2026-07-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:MetropolitanTowerLifeInsuranceCompanyMember2026-01-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:MetLifeInc.Member2026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:MetLifeInc.Member2026-01-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:MetLifeInc.Member2026-07-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:MetLifeInc.Member2026-01-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:TeachersIns.AndAnnuityAssocOfAmericaMember2026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:TeachersIns.AndAnnuityAssocOfAmericaMember2026-01-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:TeachersIns.AndAnnuityAssocOfAmericaMember2026-07-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:TeachersIns.AndAnnuityAssocOfAmericaMember2026-01-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:FlagstarBankNationalAssociationMember2026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:FlagstarBankNationalAssociationMember2026-01-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:FlagstarBankNationalAssociationMember2026-07-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:FlagstarBankNationalAssociationMember2026-01-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:EquitableFinancialLifeInsuranceCompanyMember2026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:EquitableFinancialLifeInsuranceCompanyMember2026-01-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:EquitableFinancialLifeInsuranceCompanyMember2026-07-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:EquitableFinancialLifeInsuranceCompanyMember2026-01-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:ManufacturersAndTradersTrustCompanyMember2026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:ManufacturersAndTradersTrustCompanyMember2026-01-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:ManufacturersAndTradersTrustCompanyMember2026-07-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:ManufacturersAndTradersTrustCompanyMember2026-01-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:NewYorkLifeInsuranceCompanyMember2026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:NewYorkLifeInsuranceCompanyMember2026-01-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:NewYorkLifeInsuranceCompanyMember2026-07-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:NewYorkLifeInsuranceCompanyMember2026-01-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:GuardianLifeInsuranceCompanyOfAmericaMember2026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:GuardianLifeInsuranceCompanyOfAmericaMember2026-01-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:GuardianLifeInsuranceCompanyOfAmericaMember2026-07-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:GuardianLifeInsuranceCompanyOfAmericaMember2026-01-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:GoldmanSachsBankUnitedStatesOfAmericaMember2026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:GoldmanSachsBankUnitedStatesOfAmericaMember2026-01-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:GoldmanSachsBankUnitedStatesOfAmericaMember2026-07-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:GoldmanSachsBankUnitedStatesOfAmericaMember2026-01-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:ESLFederalCreditUnionMember2026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:ESLFederalCreditUnionMember2026-01-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:ESLFederalCreditUnionMember2026-07-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:ESLFederalCreditUnionMember2026-01-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:TopTenAdvanceHoldersMember2026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:TopTenAdvanceHoldersMember2026-01-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:TopTenAdvanceHoldersMember2026-07-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:TopTenAdvanceHoldersMember2026-01-012026-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:MetropolitanLifeInsuranceCompanyMember2025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:MetropolitanLifeInsuranceCompanyMember2025-01-012025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:MetropolitanLifeInsuranceCompanyMember2025-01-012025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:MetropolitanTowerLifeInsuranceCompanyMember2025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:MetropolitanTowerLifeInsuranceCompanyMember2025-01-012025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:MetropolitanTowerLifeInsuranceCompanyMember2025-01-012025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:MetLifeInc.Member2025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:MetLifeInc.Member2025-01-012025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:MetLifeInc.Member2025-01-012025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:FlagstarBankNationalAssociationMember2025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:FlagstarBankNationalAssociationMember2025-01-012025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:FlagstarBankNationalAssociationMember2025-01-012025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:CitibankNationalAssociationMember2025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:CitibankNationalAssociationMember2025-01-012025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:CitibankNationalAssociationMember2025-01-012025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:TeachersIns.AndAnnuityAssocOfAmericaMember2025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:TeachersIns.AndAnnuityAssocOfAmericaMember2025-01-012025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:TeachersIns.AndAnnuityAssocOfAmericaMember2025-01-012025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:EquitableFinancialLifeInsuranceCompanyMember2025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:EquitableFinancialLifeInsuranceCompanyMember2025-01-012025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:EquitableFinancialLifeInsuranceCompanyMember2025-01-012025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:GoldmanSachsBankUnitedStatesOfAmericaMember2025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:GoldmanSachsBankUnitedStatesOfAmericaMember2025-01-012025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:GoldmanSachsBankUnitedStatesOfAmericaMember2025-01-012025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:NewYorkLifeInsuranceCompanyMember2025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:NewYorkLifeInsuranceCompanyMember2025-01-012025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:NewYorkLifeInsuranceCompanyMember2025-01-012025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:GuardianLifeInsuranceCompanyOfAmericaMember2025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:GuardianLifeInsuranceCompanyOfAmericaMember2025-01-012025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:GuardianLifeInsuranceCompanyOfAmericaMember2025-01-012025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:ThePrudentialInsuranceCompanyOfAmericaMember2025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:ThePrudentialInsuranceCompanyOfAmericaMember2025-01-012025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:ThePrudentialInsuranceCompanyOfAmericaMember2025-01-012025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:ValleyNationalBankMember2025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:ValleyNationalBankMember2025-01-012025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:ValleyNationalBankMember2025-01-012025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:TopTenAdvanceHoldersMember2025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:TopTenAdvanceHoldersMember2025-01-012025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:TopTenAdvanceHoldersMember2025-01-012025-12-310001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:MetropolitanLifeInsuranceCompanyMember2025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:MetropolitanLifeInsuranceCompanyMember2025-01-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:MetropolitanLifeInsuranceCompanyMember2025-07-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:MetropolitanLifeInsuranceCompanyMember2025-01-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:MetropolitanTowerLifeInsuranceCompanyMember2025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:MetropolitanTowerLifeInsuranceCompanyMember2025-01-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:MetropolitanTowerLifeInsuranceCompanyMember2025-07-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:MetropolitanTowerLifeInsuranceCompanyMember2025-01-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:MetLifeInc.Member2025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:MetLifeInc.Member2025-01-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:MetLifeInc.Member2025-07-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:MetLifeInc.Member2025-01-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:CitibankNationalAssociationMember2025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:CitibankNationalAssociationMember2025-01-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:CitibankNationalAssociationMember2025-07-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:CitibankNationalAssociationMember2025-01-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:FlagstarBankNationalAssociationMember2025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:FlagstarBankNationalAssociationMember2025-01-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:FlagstarBankNationalAssociationMember2025-07-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:FlagstarBankNationalAssociationMember2025-01-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:EquitableFinancialLifeInsuranceCompanyMember2025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:EquitableFinancialLifeInsuranceCompanyMember2025-01-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:EquitableFinancialLifeInsuranceCompanyMember2025-07-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:EquitableFinancialLifeInsuranceCompanyMember2025-01-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:TeachersIns.AndAnnuityAssocOfAmericaMember2025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:TeachersIns.AndAnnuityAssocOfAmericaMember2025-01-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:TeachersIns.AndAnnuityAssocOfAmericaMember2025-07-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:TeachersIns.AndAnnuityAssocOfAmericaMember2025-01-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:GoldmanSachsBankUnitedStatesOfAmericaMember2025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:GoldmanSachsBankUnitedStatesOfAmericaMember2025-01-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:GoldmanSachsBankUnitedStatesOfAmericaMember2025-07-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:GoldmanSachsBankUnitedStatesOfAmericaMember2025-01-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:NewYorkLifeInsuranceCompanyMember2025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:NewYorkLifeInsuranceCompanyMember2025-01-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:NewYorkLifeInsuranceCompanyMember2025-07-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:NewYorkLifeInsuranceCompanyMember2025-01-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:GuardianLifeInsuranceCompanyOfAmericaMember2025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:GuardianLifeInsuranceCompanyOfAmericaMember2025-01-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:GuardianLifeInsuranceCompanyOfAmericaMember2025-07-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:GuardianLifeInsuranceCompanyOfAmericaMember2025-01-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:ThePrudentialInsuranceCompanyOfAmericaMember2025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:ThePrudentialInsuranceCompanyOfAmericaMember2025-01-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:ThePrudentialInsuranceCompanyOfAmericaMember2025-07-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:ThePrudentialInsuranceCompanyOfAmericaMember2025-01-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:ValleyNationalBankMember2025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:ValleyNationalBankMember2025-01-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:ValleyNationalBankMember2025-07-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:ValleyNationalBankMember2025-01-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:TopTenAdvanceHoldersMember2025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesConcentrationRiskMemberfhlbny:TopTenAdvanceHoldersMember2025-01-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:TopTenAdvanceHoldersMember2025-07-012025-09-300001329842us-gaap:CreditConcentrationRiskMemberfhlbny:FederalHomeLoanBankAdvancesInterestIncomeConcentrationRiskMemberfhlbny:TopTenAdvanceHoldersMember2025-01-012025-09-30
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2026
Or
☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from             to             
Commission file number: 000-51397
Federal Home Loan Bank of New York
(Exact name of registrant as specified in its charter)
Federally chartered corporation
13-6400946
(State or other jurisdiction of
(I.R.S. Employer
incorporation or organization)
Identification No.)
101 Park Avenue, New York, New York
10178
(Address of principal executive offices)
(Zip Code)
(212) 681-6000
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
None
N/A
N/A
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding
12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No
☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§
232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth
company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange
Act.
Large accelerated filer ☐
Accelerated filer ☐
Non-accelerated filer ☒
Small Reporting Company ☐
Emerging Growth Company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
The number of shares outstanding of issuer’s Class B capital stock as of October 31, 2026 was 71,190,608.
2
FEDERAL HOME LOAN BANK OF NEW YORK
FORM 10-Q FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2026
Table of Contents
Page
PART I. FINANCIAL INFORMATION
Statements of Condition (Unaudited) as of September 30, 2026 and December 31, 2025
Statements of Income (Unaudited) for the Three and Nine Months Ended September 30, 2026 and 2025
Statements of Comprehensive Income (Unaudited) for the Three and Nine Months Ended September 30, 2026 and 2025
Statements of Capital (Unaudited) for the Three and Nine Months Ended September 30, 2026 and 2025
Statements of Cash Flows (Unaudited) for the Nine Months Ended September 30, 2026 and 2025
PART II. OTHER INFORMATION
3
Federal Home Loan Bank of New York
Statements of Condition — Unaudited (In Thousands, Except Par Value of Capital Stock)
As of September 30, 2026 and December 31, 2025
September 30, 2026
December 31, 2025
Assets
Cash and due from banks (Note 3)
$76,249
$38,192
Interest-bearing deposits (Note 4)
3,730,000
2,960,000
Securities purchased under agreements to resell (Note 4)
12,955,000
15,950,000
Federal funds sold (Note 4)
13,825,000
11,550,000
Trading securities (Note 5) (Includes $839,285 pledged as collateral at September 30, 2026 and $845,578 at December 31, 2025)
9,459,131
7,387,187
Equity Investments (Note 6)
105,049
103,707
Available-for-sale securities, amortized cost of $12,937,180 at September 30, 2026 and $12,377,325 at December 31, 2025 (Note 7)
12,799,752
12,345,845
Held-to-maturity securities, net of allowance for credit losses of $86 at September 30, 2026 and $76 at December 31, 2025  (Note 8)
(Includes $0 pledged as collateral at September 30, 2026 and December 31, 2025)
12,276,399
10,490,167
Advances (Note 9) (Includes $0 at September 30, 2026 and December 31, 2025 at fair value under the fair value option)
119,668,944
92,306,684
Mortgage loans held-for-portfolio, net of allowance for credit losses of $4,948 at September 30, 2026 and $3,691 at December 31, 2025
(Note 10)
2,918,011
2,644,449
Accrued interest receivable
662,461
523,973
Premises, software, and equipment
77,444
84,524
Operating lease right-of-use assets (Note 19)
40,207
44,289
Finance lease right-of-use asset (Note 19)
1,178
1,532
Derivative assets (Note 17)
52,312
99,548
Other assets
7,578
14,896
Total assets
$188,654,715
$156,544,993
Liabilities and capital
Liabilities
Deposits (Note 11)
Interest-bearing demand
$1,944,840
$3,071,958
Non-interest-bearing demand
21,109
18,003
Total deposits
1,965,949
3,089,961
Consolidated obligations, net (Note 12)
Bonds (Includes $124,260 at September 30, 2026 and $556,866 at December 31, 2025 at fair value under the fair value option)
104,967,394
68,466,741
Discount notes (Includes $0 at September 30, 2026 and $577,958 at December 31, 2025 at fair value under the fair value option)
71,261,091
76,019,517
Total Consolidated obligations
176,228,485
144,486,258
Mandatorily redeemable capital stock (Note 14)
7,676
7,585
Accrued interest payable
597,939
470,265
Affordable Housing Program (Note 13)
256,047
247,824
Derivative liabilities (Note 17)
4,199
4,097
Other liabilities
162,935
167,633
Operating lease liabilities (Note 19)
49,901
54,696
Finance lease liabilities (Note 19)
1,222
1,571
Total liabilities
179,274,353
148,529,890
Commitments and Contingencies (Notes 14, 17 and 19)
Capital (Note 14)
Capital stock ($100 par value), putable, issued and outstanding shares: 67,257 at September 30, 2026 and 54,111 at December 31, 2025
6,725,683
5,411,075
Retained earnings
Unrestricted
1,336,228
1,286,417
Restricted
1,421,689
1,328,728
Total retained earnings
2,757,917
2,615,145
Total accumulated other comprehensive income (loss)
(103,238)
(11,117)
Total capital
9,380,362
8,015,103
Total liabilities and capital
$188,654,715
$156,544,993
The accompanying notes are an integral part of these financial statements.
4
Federal Home Loan Bank of New York
Statements of Income — Unaudited (In Thousands, Except Per Share Data)
For the Three and Nine Months Ended September 30, 2026 and 2025
Three months ended September 30,
Nine months ended September 30,
2026
2025
2026
2025
Interest income
Advances, net (Note 9)
$1,279,638
$1,200,721
$3,491,309
$3,667,872
Interest-bearing deposits (Note 4)
37,384
36,003
101,629
107,880
Securities purchased under agreements to resell (Note 4)
115,468
81,743
311,276
186,842
Federal funds sold (Note 4)
166,922
199,571
439,705
637,534
Trading securities (Note 5)
74,960
55,943
226,070
180,909
Available-for-sale securities (Note 7)
139,982
136,618
403,402
387,743
Held-to-maturity securities (Note 8)
118,259
114,237
337,241
326,557
Mortgage loans held-for-portfolio (Note 10)
30,790
25,322
86,266
71,864
Loans to other FHLBanks (Note 20)
428
90
700
367
Total interest income
1,963,831
1,850,248
5,397,598
5,567,568
Interest expense
Consolidated obligation bonds (Note 12)
950,094
941,727
2,171,636
2,855,332
Consolidated obligation discount notes (Note 12)
779,538
665,694
2,518,835
1,984,161
Deposits (Note 11)
19,262
29,623
60,919
84,439
Mandatorily redeemable capital stock (Note 14)
118
168
391
414
Cash collateral held and other borrowings
267
1,063
694
1,707
Securities sold under agreement to repurchase
27
—
27
12
Total interest expense
1,749,306
1,638,275
4,752,502
4,926,065
Net interest income before provision for credit losses
214,525
211,973
645,096
641,503
Provision (Reversal) for credit losses
675
(288)
1,267
(148)
Net interest income after provision for credit losses
213,850
212,261
643,829
641,651
Other income (loss)
Service fees and other
6,457
5,325
19,215
16,345
Instruments held under the fair value option gains (losses) (Note 18)
(4,361)
(12,592)
(7,026)
(40,753)
Derivative gains (losses) (Note 17)
60,293
10,380
149,457
(27,605)
Securities gains (losses) (Note 5 & Note 8)
(32,170)
23,561
(91,871)
113,252
Equity investments gains (losses) (Note 6)
(2,830)
5,267
3,954
10,784
Litigation settlement
—
7
751
7
Gains (losses) from extinguishment of debt
—
—
(1)
—
Total other income (loss)
27,389
31,948
74,479
72,030
Other expenses
Operating
21,868
22,905
69,597
66,039
Compensation and benefits
29,102
29,404
91,779
89,872
Voluntary Contributions (Note 13)
7,684
6,306
18,426
13,624
Finance Agency and Office of Finance
5,236
6,083
15,477
17,515
Other expenses
2,221
2,003
6,534
6,073
Total other expenses
66,111
66,701
201,813
193,123
Income before assessments
175,128
177,508
516,495
520,558
Affordable Housing Program Assessments (Note 13)
17,525
17,767
51,689
52,097
Net income
157,603
$159,741
$464,806
$468,461
Basic earnings per share (Note 15)
$2.26
$2.77
$7.18
$7.94
The accompanying notes are an integral part of these financial statements.
5
Federal Home Loan Bank of New York
Statements of Comprehensive Income — Unaudited (In Thousands)
For the Three and Nine Months Ended September 30, 2026 and 2025
Three months ended September 30,
Nine months ended September 30,
2026
2025
2026
2025
Net Income
$157,603
$159,741
$464,806
$468,461
Other Comprehensive income (loss)
Net change in unrealized gains (losses) on available-for-sale securities
(457,243)
88,323
(562,802)
378,331
Net change in non-credit portion on held-to-maturity securities
—
479
—
569
Net change due to hedging activities
Cash flow hedges (a)
10,858
(6,419)
13,462
(34,191)
Fair value hedges (b)
363,308
(42,564)
456,854
(292,336)
Total net change due to hedging activities
374,166
(48,983)
470,316
(326,527)
Net change in pension and postretirement benefits
122
(69)
365
(206)
Total other comprehensive income (loss)
(82,955)
39,750
(92,121)
52,167
Total comprehensive income (loss)
$74,648
$199,491
$372,685
$520,628
(a)Represents changes in the fair values of derivatives in cash flow hedging programs, primarily from open contracts in the hedging
of rolling issuance of CO discount notes, and any open contracts in cash flow hedges of anticipatory issuance of CO bonds. Also
includes unamortized gains and losses related to closed cash flow hedges that will be amortized in future periods from AOCI to
Interest expense. For more information, see table “Cash flow hedge gains and losses” in Note 17. Derivatives and Hedging
Activities.
(b)Represents cumulative hedge valuation basis adjustments on fair value hedges of AFS securities under the partial-term hedging
provisions of ASC 815. Amounts represent change in the benchmark rate of the hedged securities. Changes in the benchmark rate
on ASC 815 qualifying fair value hedges are recorded through earnings with an offset to the carrying values of the hedged AFS
securities. Changes in marked-to-market values of AFS securities are recorded to adjust the amortized cost of AFS securities with
an offset in AOCI. In AOCI, the marked-to-market gains and losses are reported separately from ASC 815 valuation changes due
to changes in the benchmark rate.
The accompanying notes are an integral part of these financial statements.
6
Federal Home Loan Bank of New York
Statements of Capital — Unaudited (In Thousands, Except Per Share Data)
For the Three and Nine Months Ended September 30, 2026 and 2025
Capital Stock(a)
Class B
Retained Earnings
Accumulated
Other
Comprehensive
Income (Loss)
Shares
Par Value
Unrestricted
Restricted
Total
Total
Capital
Balance, June 30, 2025
59,617
$5,961,738
$1,279,548
$1,270,520
$2,550,068
$(87,561)
$8,424,245
Proceeds from issuance of capital stock
10,298
1,029,839
—
—
—
—
1,029,839
Repurchase/redemption of capital stock
(14,079)
(1,407,947)
—
—
—
—
(1,407,947)
Shares reclassified to mandatorily redeemable
capital stock
(16)
(1,599)
—
—
—
—
(1,599)
Cash dividends ($1.90 per share) on capital stock
—
—
(115,259)
—
(115,259)
—
(115,259)
Comprehensive income (loss)
—
—
127,792
31,949
159,741
39,750
199,491
Balance, September 30, 2025
55,820
$5,582,031
$1,292,081
$1,302,469
$2,594,550
$(47,811)
$8,128,770
Balance, June 30, 2026
70,435
$7,043,542
$1,320,418
$1,390,169
$2,710,587
$(20,283)
$9,733,846
Proceeds from issuance of capital stock
34,463
3,446,293
—
—
—
—
3,446,293
Repurchase/redemption of capital stock
(37,464)
(3,746,462)
—
—
—
—
(3,746,462)
Shares reclassified to mandatorily redeemable
capital stock
(177)
(17,690)
—
—
—
—
(17,690)
Cash dividends ($1.67 per share) on capital stock
—
—
(110,273)
—
(110,273)
—
(110,273)
Comprehensive income (loss)
—
—
126,083
31,520
157,603
(82,955)
74,648
Balance, September 30, 2026
67,257
$6,725,683
$1,336,228
$1,421,689
$2,757,917
$(103,238)
$9,380,362
             
Capital Stock(a)
Class B
Retained Earnings
Accumulated
Other
Comprehensive
Income (Loss)
Shares
Par Value
Unrestricted
Restricted
Total
Total
Capital
Balance, December 31, 2024
60,144
$6,014,414
$1,286,317
$1,208,776
$2,495,093
$(99,978)
$8,409,529
Proceeds from issuance of capital stock
40,045
4,004,541
—
—
—
—
4,004,541
Repurchase/redemption of capital stock
(44,292)
(4,429,214)
—
—
—
—
(4,429,214)
Shares reclassified to mandatorily redeemable
capital stock
(77)
(7,710)
—
—
—
—
(7,710)
Cash dividends ($6.07 per share) on capital stock
—
—
(369,004)
—
(369,004)
—
(369,004)
Comprehensive income (loss)
—
—
374,768
93,693
468,461
52,167
520,628
Balance, September 30, 2025
55,820
$5,582,031
$1,292,081
$1,302,469
$2,594,550
$(47,811)
$8,128,770
Balance, December 31, 2025
54,111
$5,411,075
$1,286,417
$1,328,728
$2,615,145
$(11,117)
$8,015,103
Proceeds from issuance of capital stock
112,990
11,299,031
—
—
—
—
11,299,031
Repurchase/redemption of capital stock
(99,654)
(9,965,396)
—
—
—
—
(9,965,396)
Shares reclassified to mandatorily redeemable
capital stock
(190)
(19,027)
—
—
—
—
(19,027)
Cash dividends ($5.43 per share) on capital stock
—
—
(322,034)
—
(322,034)
—
(322,034)
Comprehensive income (loss)
—
—
371,845
92,961
464,806
(92,121)
372,685
Balance, September 30, 2026
67,257
$6,725,683
$1,336,228
$1,421,689
$2,757,917
$(103,238)
$9,380,362
(a)Putable stock. Cash dividends paid — Dividends per share and aggregate dividends were paid on a single class of shares of
capital stock. For more information, see Note 14. Capital and Mandatorily Redeemable Capital Stock.
The accompanying notes are an integral part of these financial statements.
7
Federal Home Loan Bank of New York
Statements of Cash Flows — Unaudited (In Thousands)
For the Nine Months Ended September 30, 2026 and 2025
Nine months ended September 30,
2026
2025
Operating activities
Net Income
$464,806
$468,461
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization:
Net premiums and discounts on Consolidated obligations, investments, mortgage loans and other adjustments
1,479,453
(628,620)
Concessions on Consolidated obligations
3,218
2,286
Premises, software, and equipment
14,551
12,675
Provision (Reversal) for credit losses
1,267
(148)
Change in net fair value adjustments on derivatives and hedging activities
864,606
(601,427)
Net realized and unrealized (gains) losses on trading securities
91,871
(113,252)
Change in fair value on Equity Investments
(1,811)
(8,248)
Change in fair value adjustments on financial instruments held at fair value
7,026
40,753
Losses (gains) from extinguishment of debt
1
—
Net change in:
Accrued interest receivable
(138,668)
32,237
Derivative assets due to accrued interest
348,139
580,468
Derivative liabilities due to accrued interest
(369,377)
(654,567)
Other assets
8,293
16,612
Affordable Housing Program liability
8,223
(1,147)
Accrued interest payable
127,674
21,913
Other liabilities
(2,294)
4,850
Total adjustments
2,442,172
(1,295,615)
Net cash provided by (used in) operating activities
$2,906,978
$(827,154)
Investing activities
Net change in:
Interest-bearing deposits
$(750,420)
$50,880
Securities purchased under agreements to resell
2,995,000
(2,250,000)
Federal funds sold
(2,275,000)
(50,000)
Deposits with other FHLBanks
(841)
145
Equity Investments
469
261
Premises, software, and equipment
(7,118)
(13,355)
Trading securities:
Purchased
(3,538,217)
(3,416,900)
Proceeds from sales
1,392,932
3,484,640
Available-for-sale securities:
Purchased
(1,360,975)
(1,620,049)
Repayments
346,744
283,805
Held-to-maturity securities:
Long-term Securities
Purchased
(4,867,051)
(1,559,004)
Repayments
1,315,448
1,313,168
Proceeds from sales
—
25,999
Advances:
Principal collected
927,197,624
607,162,417
Made
(955,200,506)
(597,019,813)
Mortgage loans held-for-portfolio:
Principal collected
208,253
149,107
Purchased
(490,133)
(367,042)
Proceeds from sales of REO
316
587
Net cash provided by (used in) investing activities
$(35,033,475)
$6,174,846
The accompanying notes are an integral part of these financial statements.
8
Federal Home Loan Bank of New York
Statements of Cash Flows — Unaudited (In Thousands)
For the Nine Months Ended September 30, 2026 and 2025
Nine months ended September 30,
2026
2025
Financing activities
Net change in:
Deposits and other borrowings
$(1,129,812)
$555,642
Derivative contracts with financing element
683
1,817
Payments on principal portion of finance lease obligation
(349)
(339)
Consolidated obligation bonds:
Proceeds from issuance
96,637,271
58,471,878
Payments for maturing and early retirement
(59,114,839)
(57,203,341)
Payments on bond transferred to other FHLBanks (a)
(749,988)
—
Consolidated obligation discount notes:
Proceeds from issuance
582,017,692
703,358,797
Payments for maturing
(585,502,997)
(709,731,341)
Payments on discount notes transferred to other FHLBanks (a)
(985,772)
—
Capital stock:
Proceeds from issuance of capital stock
11,299,031
4,004,541
Payments for repurchase/redemption of capital stock
(9,965,396)
(4,429,214)
Redemption of mandatorily redeemable capital stock
(18,936)
(3,029)
Cash dividends paid (b)
(322,034)
(369,004)
Net cash provided by (used in) financing activities
$32,164,554
$(5,343,593)
Net increase (decrease) in cash and due from banks
38,057
4,099
Cash and due from banks at beginning of the period (c)
38,192
26,141
Cash and due from banks at end of the period (c)
$76,249
$30,240
Supplemental disclosures:
Interest paid
$2,644,352
$3,583,244
Interest paid for discount notes (d)
$2,784,984
$2,503,027
Affordable Housing Program payments (e)
$45,911
$53,244
Transfers of mortgage loans to real estate owned
$204
$55
Capital stock subject to mandatory redemption reclassified from equity
$19,027
$7,710
Interest paid for finance lease
$32
$42
  Carrying Value of Trading securities pledged collateral which can be repledged or resold
$839,285
$838,266
  Carrying Value of AFS securities pledged collateral which can be repledged or resold
$—
$—
  Carrying Value of HTM securities pledged collateral which can be repledged or resold
$—
$—
(a)For more information about bonds and discount notes transferred to other FHLBanks and other related party transactions, See
Note 20. Related Party Transactions.
(b)Does not include payments to holders of mandatorily redeemable capital stock. Such payments are considered as interest expense
and reported within operating cash flows.
(c)Cash and due from Banks includes pass-thru reserves at the Federal Reserve Bank of New York. See Note 3. Cash and Due from
Banks for further information. Interest-bearing deposits are considered investments and are not included in cash or cash
equivalent.
(d)Interest paid for discount notes is the portion of the cash payments at settlement of zero-coupon Consolidated obligation discount
notes.
(e)AHP payments equals beginning accrual minus ending accrual plus AHP assessment for the period; payments represent funds
released to the Affordable Housing Program.
The accompanying notes are an integral part of these financial statements.
9
FEDERAL HOME LOAN BANK OF NEW YORK
NOTES TO FINANCIAL STATEMENTS
Page
10
Note 1.    Summary of Significant Accounting Policies.
These unaudited quarterly financial statements do not include all disclosures associated with annual combined financial statements,
and therefore should be read in conjunction with the Bank’s most recent 2025 Form 10-K filed on March 20, 2026. In addition, the
results of operations for interim periods are not necessarily indicative of the results to be expected for the year ending December 31,
2026.
Basis of Presentation
The accompanying financial statements of The Federal Home Loan Bank of New York (“we,” “us,” “our,” “the Bank,” or the
“FHLBNY”) have been prepared in accordance with Generally Accepted Accounting Principles in the United States (GAAP) and
with the instructions provided by the Securities and Exchange Commission (SEC).
Note 2.    Financial Accounting Standards Board (FASB) Standards Issued.
Recently Issued Accounting Standards
Standard
Summary of Guidance
Effective Date
Effects on the Financial Statements
Interim Reporting
ASU 2025-11, Issued
December 2025.
The ASU reorganizes and modernizes interim
reporting guidance in Topic 270. It
consolidates all interim disclosure requirements
from across GAAP into a single comprehensive
list, clarifies the applicability of interim
reporting guidance, and introduces a disclosure
principle requiring entities to disclose material
events occurring after year‑end. The
amendments do not expand or reduce existing
interim disclosure requirements but improve
clarity and consistency.
Effective for annual reporting
periods beginning after December
15, 2027, including interim periods
within those annual periods. Early
adoption permitted.
FHLBNY is currently evaluating the
new guidance and its potential impact
on the Bank’s financial statements.
Hedge Accounting
Improvements
ASU 2025-09, Issued
December 2025.
The ASU updates hedge accounting guidance
to better align with current risk‑management
practices. Key changes include expanding the
ability to group forecasted transactions using a
“similar risk exposure” criterion; establishing a
model for hedging choose‑your‑rate
variable‑rate debt; expanding component
hedging for nonfinancial forecasted
transactions; eliminating the net written option
test for certain compound derivatives; and
improving accounting for dual hedges
involving foreign‑currency‑denominated debt.
Effective for annual reporting
periods beginning after December
15, 2026, including interim periods
within those annual periods. Early
adoption permitted.
The adoption of this guidance is not
expected to have any material effect
on the Bank's statement of financial
condition, results of operations, or the
statement of cash flows.
Allowance for Credit Losses
on Purchased Seasoned
Loans
ASU 2025-08, Issued
November 2025.
The ASU expands the use of the gross‑up
approach to a new category of acquired
financial assets called “purchased seasoned
loans.” Non‑PCD loans that meet seasoning
criteria (including all non‑PCD loans acquired
in a business combination) must be accounted
for using the gross‑up approach rather than
recording a Day 1 credit loss expense. The
amendments reduce complexity, eliminate
double counting of expected losses, and
improve comparability across acquisitions.
Effective for annual reporting
periods beginning after December
15, 2026, including interim periods
within those annual periods.
Applied prospectively. Early
adoption permitted.
The adoption of this guidance is not
expected to have any material effect
on the Bank's statement of financial
condition, results of operations, or the
statement of cash flows.
11
Standard
Summary of Guidance
Effective Date
Effects on the Financial Statements
Internal-Use Software
Capitalization
ASU 2025-06, Issued
September, 2025.
The standards in this ASU eliminate references
to prescriptive software development stages.
Under the amended guidance, capitalization of
internal-use software costs begins when (1)
management authorizes and commits funding
to the project, and (2) it is probable the project
will be completed and the software used as
intended.
The requirement is effective for
annual reporting periods beginning
after December 15, 2027, and
interim reporting periods within
those annual reporting periods.
Early adoption is permitted.
FHLBNY is currently evaluating the
new guidance and its potential impact
on the Bank’s financial statements.
Expense Disaggregation
Disclosures
ASU 2024-03, Issued
November 2024.
The standards in the ASU require disclosure in
the notes to financial statements specified
information about certain costs and expenses.
The requirement is effective for
fiscal years beginning after
December 15, 2026, and interim
reporting periods beginning after
December 15, 2027.
The adoption of this guidance is not
expected to have any material effect
on the Bank's statement of financial
condition, results of operations, or the
statement of cash flows.
Note 3.    Cash and Due from Banks.
Cash on hand, cash items in the process of collection, and amounts due from correspondent banks and the Federal Reserve Banks are
recorded as cash and cash equivalent in the Statements of Cash Flows. The FHLBNY is exempt from maintaining any required
clearing balance at the Federal Reserve Bank of New York.
Compensating Balances
The FHLBNY has made arrangements with Citibank (a member/stockholder of the FHLBNY) to maintain compensating collected
cash balances. There are no restrictions on the withdrawal of funds in this arrangement. The compensating balances were $30.0
million at September 30, 2026 and $5.0 million at December 31, 2025. There were no restricted cash balances at September 30, 2026
and December 31, 2025.
Pass-through Deposit Reserves
The FHLBNY acts as a pass-through correspondent for member institutions who are required by banking regulations to deposit
reserves with the Federal Reserve Banks. There were no pass-through reserves deposited with Federal Reserve Banks on behalf of
the members by the FHLBNY at September 30, 2026 and December 31, 2025, respectively.
Note 4.    Interest-bearing Deposits, Federal Funds Sold and Securities Purchased Under Agreements to Resell.
The Bank invests in interest-bearing deposits, securities purchased under agreements to resell, and federal funds sold to provide
short-term liquidity. The following table provides the carrying value of short-term investments at September 30, 2026 and
December 31, 2025 (in thousands):
Carrying value
September 30, 2026
December 31, 2025
Interest-bearing deposits
$3,730,000
$2,960,000
Securities purchased under agreements to resell
12,955,000
15,950,000
Federal funds sold
13,825,000
11,550,000
Total short-term investments
$30,510,000
$30,460,000
U.S. Treasury securities at market values of $13.3 billion at September 30, 2026 and $16.3 billion at December 31, 2025 were
received at BONY to collateralize the overnight investments. Transactions recorded as Securities purchased under agreements to
resell were accounted for as collateralized financing transactions.
12
Note 5.    Trading Securities.
The carrying value of a trading security equals its fair value. The following table provides security types at September 30, 2026 and
December 31, 2025 (in thousands):
Fair value
September 30, 2026
December 31, 2025
U.S. Treasury notes
$8,472,397
$7,387,187
U.S. Treasury bills
986,734
—
Total trading securities
$9,459,131
$7,387,187
The carrying values of trading securities included net unrealized fair value losses of $187.7 million at September 30, 2026 and losses
of $96.1 million at December 31, 2025. We have classified investments acquired for purposes of meeting short-term contingency and
other liquidity needs as trading securities. In accordance with Federal Housing Finance Agency guidance, also referred to as U.S.
Federal Housing (FHFA or the Finance Agency), we do not participate in speculative trading practices.
The following tables present redemption terms of the major types of trading securities (dollars in thousands):
Redemption Terms
September 30, 2026
Due in one year or
less
Due after one year
through five years
Total Fair Value
U.S. Treasury notes
$2,990,091
$5,482,306
$8,472,397
U.S. Treasury bills
986,734
—
986,734
Total trading securities
$3,976,825
$5,482,306
$9,459,131
Yield on trading securities
3.29
%
2.77
%
2.99
%
December 31, 2025
Due in one year
or less
Due after one year
through five years
Total Fair Value
U.S. Treasury notes
$2,305,878
$5,081,309
$7,387,187
U.S. Treasury bills
—
—
—
Total trading securities
$2,305,878
$5,081,309
$7,387,187
Yield on trading securities
1.41
%
2.53
%
2.18
%
Note 6.    Equity Investments.
The FHLBNY has classified its grantor trusts as equity investments. The carrying value of equity investments in the Statements of
Condition, and the types of assets in the grantor trusts were as follows (in thousands):
September 30, 2026
Amortized
Cost
Gross
Unrealized
Gains (b)
Gross
Unrealized
Losses (b)
Fair Value
(c)
Cash equivalents
$6,257
$—
$—
$6,257
Equity funds
41,175
45,016
(23,485)
62,706
Fixed income funds
38,590
8,036
(10,540)
36,086
Total Equity Investments (a)
$86,022
$53,052
$(34,025)
$105,049
13
December 31, 2025
Amortized
Cost
Gross
Unrealized
Gains (b)
Gross
Unrealized
Losses (b)
Fair Value
(c)
Cash equivalents
$5,804
$—
$—
$5,804
Equity funds
41,336
30,824
(13,897)
58,263
Fixed income funds
39,351
6,505
(6,216)
39,640
Total Equity Investments (a)
$86,491
$37,329
$(20,113)
$103,707
(a)The intent of the grantor trusts is to set aside cash to meet current and future payments for a supplemental unfunded pension
plan. Neither the pension plans nor the employees of the FHLBNY own the trusts.
(b)Changes in unrealized gains and losses are recorded through earnings, specifically in Other income in the Statements of Income.
(c)The grantor trusts invest in money market, equity and fixed income and bond funds. Daily net asset values (NAVs) are readily
available and investments are redeemable at short notice. NAVs are the fair values of the funds in the grantor trusts. The grantor
trusts are owned by the FHLBNY.
Note 7.    Available-for-Sale Securities.
The following tables provide major security types (in thousands):
September 30, 2026
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair       
Value
Housing and U.S. Obligations(a)
$2,220,401
$2,451
$(14,892)
$2,207,960
Mortgage-backed securities
Floating
CMO
256,314
341
(1,942)
254,713
Pass-through
2,322
78
—
2,400
Total Floating
258,636
419
(1,942)
257,113
Fixed
CMBS
11,278,912
617
(944,850)
10,334,679
Total Fixed
11,278,912
617
(944,850)
10,334,679
MBS AFS Before Hedging Adjustments
11,537,548
1,036
(b)
(946,792)
(b)
10,591,792
Hedging Basis Adjustments (c)
(820,769)
820,769
—
—
Total Available-for-sale securities (MBS)
10,716,779
821,805
(946,792)
10,591,792
Total Available-for-sale securities
$12,937,180
$824,256
$(961,684)
$12,799,752
14
December 31, 2025
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair       
Value
Housing and U.S. Obligations(a)
$2,223,460
$2,599
$(1,264)
$2,224,795
Mortgage-backed securities
Floating
CMO
291,061
509
(1,402)
290,168
Pass-through
2,552
84
—
2,636
Total Floating
293,613
593
(1,402)
292,804
Fixed
CMBS
10,224,167
55,871
(451,792)
9,828,246
Total Fixed
10,224,167
55,871
(451,792)
9,828,246
MBS AFS Before Hedging Adjustments
10,517,780
56,464
(b)
(453,194)
(b)
10,121,050
Hedging Basis Adjustments (c)
(363,915)
363,915
—
—
Total Available-for-sale securities (MBS)
10,153,865
420,379
(453,194)
10,121,050
Total Available-for-sale securities
$12,377,325
$422,978
$(454,458)
$12,345,845
(a)Amounts represent state and local housing finance agency obligations ("HFA") and U.S. Treasury Securities.
(b)Amounts represent specialized third-party pricing vendors’ estimates of gains/losses of AFS securities; market pricing is based
on historical amortized cost adjusted for pay downs and amortization of premiums and discounts; fair value unrealized gains
and losses are before adjusting book values for hedge basis adjustments and will equal market values of AFS securities recorded
in AOCI. Fair value hedges were executed to mitigate the interest rate risk of the hedged fixed-rate securities due to changes in
the designated benchmark rate.
(c)Amounts represent fair value hedging basis due to changes in the benchmark rate and were recorded as an adjustment to the
carrying values of hedged securities; the adjustments impacted the unrealized market value gains and losses. In the table above,
the benchmark hedging basis adjustments were reported separately from the market-based prices of ASC 815 qualifying hedges
to provide greater clarity to market-based pricing of the securities.
15
Credit Loss Analysis of AFS Securities
The Bank evaluates its individual AFS securities for impairment by comparing the security’s fair value to its amortized cost.
Substantially all of these securities are GSE-issued and carry an implicit or explicit U.S. government guarantee. Based on the
analysis, no allowance for credit losses was recorded on these AFS securities at September 30, 2026 and December 31, 2025.
At September 30, 2026 and December 31, 2025, unrealized fair value losses have been aggregated in the table below by the length of
time a security was in a continuous unrealized loss position based on market-based pricing and excluding the effects of hedge basis
adjustments.
The following table summarizes available-for-sale securities with estimated fair values below their amortized cost basis (in
thousands):
September 30, 2026
Less than 12 months
12 months or more
Total
Estimated
Fair Value
Unrealized
Losses
Estimated
Fair Value
Unrealized
Losses
Estimated
Fair Value
Unrealized
Losses
MBS Investment Securities and State and
local housing finance agency obligations
MBS-Other U.S. Obligations
$667
$—
$2,237
$(25)
$2,904
$(25)
MBS-GSE
5,958,856
(331,780)
4,522,695
(614,987)
10,481,551
(946,767)
Total MBS Temporarily Impaired
5,959,523
(331,780)
4,524,932
(615,012)
10,484,455
(946,792)
Housing and U.S. Obligations
915,779
(14,892)
—
—
915,779
(14,892)
Total Temporarily Impaired
$6,875,302
$(346,672)
$4,524,932
$(615,012)
$11,400,234
$(961,684)
December 31, 2025
Less than 12 months
12 months or more
Total
Estimated
Fair Value
Unrealized
Losses
Estimated
Fair Value
Unrealized
Losses
Estimated
Fair Value
Unrealized
Losses
MBS Investment Securities and State and
local housing finance agency obligations
MBS-Other U.S. Obligations
$—
$—
$2,481
$(19)
$2,481
$(19)
MBS-GSE
493,323
(2,353)
6,300,383
(450,822)
6,793,706
(453,175)
Total MBS Temporarily Impaired
493,323
(2,353)
6,302,864
(450,841)
6,796,187
(453,194)
Housing and U.S. Obligations
1,214,511
(1,264)
—
—
1,214,511
(1,264)
Total Temporarily Impaired
$1,707,834
$(3,617)
$6,302,864
$(450,841)
$8,010,698
$(454,458)
Redemption Term
Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or
without call or prepayment fees. The amortized cost and estimated fair value (a) of investments classified as AFS, by contractual
maturity, were as follows (in thousands):
16
September 30, 2026
December 31, 2025
Amortized
Cost (b)
Estimated Fair
Value
Amortized
Cost (b)
Estimated Fair
Value
Housing and U.S. Obligations
Due in one year or less
$251,049
$250,145
$—
$—
Due after one year through five years
205,600
197,016
458,799
461,229
Due after five years through ten years
99,022
93,641
98,886
99,043
Due after ten years
1,664,730
1,667,158
1,665,775
1,664,523
Housing and U.S. Obligations
$2,220,401
$2,207,960
$2,223,460
$2,224,795
Mortgage-backed securities
Due in one year or less
$199,336
$198,056
$492,677
$488,360
Due after one year through five years
3,163,268
3,105,601
2,348,575
2,338,486
Due after five year through ten years
6,650,105
6,591,004
6,464,250
6,456,546
Due after ten years
704,070
697,131
848,363
837,658
Mortgage-backed securities
$10,716,779
$10,591,792
$10,153,865
$10,121,050
Total Available-for-Sale securities
$12,937,180
$12,799,752
$12,377,325
$12,345,845
(a)The carrying value of AFS securities equals fair value.
(b)Amortized cost is unpaid principal balance ("UPB") after adjusting for net unamortized discounts of $95.8 million at
September 30, 2026 and net unamortized discounts of $44.7 million at December 31, 2025. Additionally, historical amortized
cost in the table above is after adjustment for hedging basis.
Interest Rate Payment Terms
The following table summarizes interest rate payment terms of investments in Mortgage-backed securities and State and local
housing finance agency obligations classified as AFS securities (in thousands):
September 30, 2026
December 31, 2025
Amortized Cost
Fair Value
Amortized Cost
Fair Value
Mortgage-backed securities
Floating
CMO
$256,314
$254,713
$291,061
$290,168
Pass-through
2,322
2,400
2,552
2,636
Total Floating
258,636
257,113
293,613
292,804
Fixed
CMBS
10,458,143
10,334,679
9,860,252
9,828,246
Total Fixed
10,458,143
10,334,679
9,860,252
9,828,246
Total Mortgage-backed securities
10,716,779
10,591,792
10,153,865
10,121,050
Housing and U.S. Obligations
Floating
1,664,730
1,667,158
1,665,775
1,664,523
Fixed
555,671
540,802
557,685
560,272
Total Available-for-Sale securities
$12,937,180
$12,799,752
$12,377,325
$12,345,845
17
Note 8.    Held-to-Maturity Securities.
The following tables provide major security types (in thousands):
September 30, 2026
Issued, guaranteed or insured:
Amortized
Cost (c)
Allowance
for Credit
Loss (ACL)
OTTI
Recognized 
in AOCI
Carrying
Value
Gross
Unrecognized
Holding Gains(a)
Gross
Unrecognized
Holding Losses(a)
Fair Value
Pools of Mortgages
$14,604
$—
$—
$14,604
$—
$(299)
$14,305
Collateralized Mortgage
Obligations/Real Estate
Mortgage Investment
Conduits
4,555,178
—
—
4,555,178
291
(73,847)
4,481,622
Commercial Mortgage-
Backed Securities (b)
7,534,558
—
—
7,534,558
2,287
(197,639)
7,339,206
Total MBS
12,104,340
—
—
12,104,340
2,578
(271,785)
11,835,133
Other
State and local housing
finance agency obligations
172,145
(86)
—
172,059
—
(4,670)
167,389
Total Held-to-Maturity
securities
$12,276,485
$(86)
$—
$12,276,399
$2,578
$(276,455)
$12,002,522
December 31, 2025
Issued, guaranteed or insured:
Amortized
Cost (c)
Allowance
for Credit
Loss (ACL)
OTTI
Recognized 
in AOCI
Carrying
Value
Gross
Unrecognized
Holding Gains(a)
Gross
Unrecognized
Holding Losses(a)
Fair Value
Pools of Mortgages
$17,557
$—
$—
$17,557
$334
$—
$17,891
Collateralized Mortgage
Obligations/Real Estate
Mortgage Investment
Conduits
2,914,512
—
—
2,914,512
9,966
(6,924)
2,917,554
Commercial Mortgage- 
Backed Securities (b)
7,406,494
—
—
7,406,494
7,420
(111,764)
7,302,150
Total MBS
10,338,563
—
—
10,338,563
17,720
(118,688)
10,237,595
Other
State and local housing
finance agency obligations
151,680
(76)
—
151,604
—
(4,819)
146,785
Total Held-to-Maturity
securities
$10,490,243
$(76)
$—
$10,490,167
$17,720
$(123,507)
$10,384,380
(a)Unrecognized gross holding gains and losses represent the difference between fair value and carrying value.
(b)Commercial mortgage-backed securities (CMBS) are Agency issued securities, collateralized by income-producing “multi-
family properties.” Eligible property types include standard conventional multi-family apartments, affordable multi-family
housing, seniors housing, student housing, military housing, and rural rent housing.
(c)Amortized cost — For securities that were deemed impaired, amortized cost represents unamortized cost less credit losses, net of
credit recoveries (reversals) due to improvements in cash flows.
18
Securities Pledged
There were no pledged HTM securities at September 30, 2026 and December 31, 2025, to the FDIC in connection with deposits
maintained by the FDIC at the FHLBNY. The FDIC does not have rights to sell or repledge the collateral unless the FHLBNY
defaults under the terms of its deposit arrangements with the FDIC.
Redemption Terms
Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or
without call or prepayment features. The amortized cost and estimated fair value of held-to-maturity securities, arranged by
contractual maturity, were as follows (in thousands):
September 30, 2026
December 31, 2025
Amortized Cost
(a)
Estimated Fair
Value
Amortized Cost
(a)
Estimated Fair
Value
State and local housing finance agency obligations
Due after one year through five years
$25,100
$24,223
$100
$100
Due after five years through ten years
24,235
23,776
25,920
25,648
Due after ten years
122,810
119,390
125,660
121,037
State and local housing finance agency obligations
$172,145
$167,389
$151,680
$146,785
Mortgage-backed securities
Due in one year or less
$1,228,849
$1,220,134
$914,538
$907,705
Due after one year through five years
3,779,844
3,639,458
4,565,613
4,490,399
Due after five years through ten years
2,360,437
2,324,322
1,766,708
1,749,324
Due after ten years
4,735,210
4,651,219
3,091,704
3,090,167
Mortgage-backed securities
$12,104,340
$11,835,133
$10,338,563
$10,237,595
Total Held-to-Maturity Securities
$12,276,485
$12,002,522
$10,490,243
$10,384,380
(a)Amortized cost is UPB after adjusting for net unamortized discounts of $28.5 million at September 30, 2026 and $22.1 million at
December 31, 2025 and before adjustments for allowance for credit losses.
19
Note 9.    Advances.
The FHLBNY offers to its members a wide range of fixed- and adjustable-rate advance loan products with different maturities,
interest rates, payment characteristics, and optionality.
Redemption Terms
Contractual redemption terms and yields of advances were as follows (dollars in thousands):
September 30, 2026
December 31, 2025
Amount
Weighted
Average
Yield (a)
Percentage
of Total
Amount
Weighted
Average
Yield (a)
Percentage
of Total
Overdrawn demand deposit accounts
$437
4.93
%
—
%
$—
—
%
—
%
Due in one year or less
69,591,086
4.04
57.77
65,033,608
2.75
70.33
Due after one year through two years
19,936,964
4.15
16.55
10,852,557
3.80
11.74
Due after two years through three years
19,095,361
4.19
15.85
6,608,869
2.89
7.15
Due after three years through four years
8,966,273
4.10
7.44
4,771,783
3.83
5.16
Due after four years through five years
1,237,564
4.21
1.03
3,220,997
1.87
3.48
Thereafter
1,641,601
3.83
1.36
1,978,590
1.70
2.14
Total par value
120,469,286
4.09
%
100.00
%
92,466,404
2.88
%
100.00
%
Advance discounts
(12,508)
(10,491)
Hedge valuation basis adjustments (b)
(787,834)
(149,229)
Total
$119,668,944
$92,306,684
(a)The weighted average yield is the weighted average coupon rates for advances, unadjusted for swaps. For floating-rate
advances, the weighted average rate is the rate outstanding at the reporting dates.
(b)Hedge valuation basis adjustments under ASC 815 hedges represent changes in the fair values of fixed-rate advances due to
changes in designated benchmark interest rates, the remaining terms to maturity or to next call and the notional amounts of
advances in a hedging relationship. The FHLBNY’s primary benchmark rates are Federal Funds-OIS index and SOFR-OIS
index.
Concentration of Advances Outstanding
Advances borrowed by insurance companies accounted for 38.1% and 43.9% of total advances at September 30, 2026 and
December 31, 2025, respectively.
Note 10.    Mortgage Loans Held-for-Portfolio.
The FHLBNY classifies mortgage loans as held for investment, and accordingly reports them at their principal amount outstanding
net of unamortized premiums, discounts, and unrealized gains and losses from loans initially classified as mortgage loan
commitments.
In the third quarter of 2026, the Bank began purchasing participations in MPF loans with the FHLBank of Chicago. As of
September 30, 2026 the Bank had $0.6 million of funded loans under this program. Mortgage loans under the MPF program were at a
carrying value of $1.3 billion at September 30, 2026 and $1.4 billion at December 31, 2025. Mortgage loans under the MAP program
were at a carrying value of $1.6 billion at September 30, 2026, compared to $1.2 billion at December 31, 2025.
20
The following table presents information on mortgage loans held-for-portfolio (dollars in thousands):
September 30, 2026
December 31, 2025
Carrying
Amount
Percentage of
Total
Carrying
Amount
Percentage of
Total
Real Estate(a):
Fixed medium-term single-family mortgages
$88,004
3.07
%
$97,276
3.74
%
Fixed long-term single-family mortgages
2,778,009
96.93
2,501,881
96.26
Total unpaid principal balance
$2,866,013
100.00
%
$2,599,157
100.00
%
Unamortized premiums
60,028
50,092
Unamortized discounts
(637)
(611)
Basis adjustment (b)
(2,445)
(498)
Total mortgage loans amortized cost
$2,922,959
$2,648,140
Allowance for credit losses
(4,948)
(3,691)
Total mortgage loans held-for-portfolio at carrying value
$2,918,011
$2,644,449
(a)Conventional mortgage loans represent the majority of mortgage loans held-for-portfolio, with the remainder invested in FHA
and VA insured loans (also referred to as government loans).
(b)Balances represent unamortized fair value basis of closed delivery commitments. A basis adjustment is recorded at the
settlement of the loan and it represents the difference in trade price paid for acquiring the loan and the price at the settlement
date for a similar loan. The basis adjustment is amortized as a yield adjustment to Interest income.
The FHLBNY and its members share the credit risk of MPF loans by structuring potential credit losses into layers. The first layer is
typically 100 bps, but this varies with the particular MPF product. The amount of the first layer, or First Loss Account (FLA), was
estimated at $36.1 million at September 30, 2026 and $38.3 million at December 31, 2025. The FLA is not recorded or reported as a
reserve for loan losses, as it serves as a memorandum account. The FHLBNY is responsible for absorbing the first layer. The PFI
then has direct liability to pay credit losses up to a specified amount with the FHLBNY taking the remaining of the credit losses.
The MAP program operates on the simplified credit risk sharing structure. MAP credit risk sharing structure rewards PFIs for
originating high-quality, well-performing loans. At the time of purchase, FHLBNY will set aside a standard credit enhancement of
1.5% for every loan funded, to be retained in a Member Performance Account (MPA) for each PFI. The MPA credit enhancement
may be slightly greater than 1.5% for certain loans based on credit characteristics. Loans are pooled into single or aggregate (multi-
member) Master Commitments. Loan losses over the life of the pool are absorbed in order by borrower’s equity, mortgage insurance
(if applicable), MPA, and finally by FHLBNY. If pooled losses are low, MPA funds are returned to the seller over time, based on a
contractual release schedule. This liability account was $27.0 million at September 30, 2026 and $19.8 million at December 31, 2025.
Allowance for Credit Losses
The following table presents the allowance for credit losses and the unpaid principal balances (dollars in thousands):
September 30, 2026
December 31, 2025
Allowance for credit losses on mortgage loans held for portfolio
$4,948
$3,691
Mortgage loans held for portfolio (a)
$2,866,013
$2,599,157
(a)Balances represent unpaid principal balance.
21
The FHLBNY’s total mortgage loans and impaired loans were as follows (in thousands):
September 30, 2026
December 31, 2025
Total mortgage loans, carrying values net (a)
$2,918,011
$2,644,449
Non-performing mortgage loans - Conventional (a)(b)
$6,330
$5,213
Insured mortgage loans past due 90 days or more and still accruing interest (a)(b)
$3,599
$3,504
(a)Includes loans classified as special mention, sub-standard, doubtful or loss under regulatory criteria, net of amounts charged-off
if delinquent for 180 days or more.
(b)Data in this table represents unpaid principal balance and would not agree to data reported in other tables at “amortized cost.”
The following table summarizes mortgage loans held-for-portfolio by collateral/guarantee type (in thousands):
September 30, 2026
December 31, 2025
Mortgage Loans Held for Portfolio by Collateral/Guarantee Type :
Conventional mortgage loans
$2,764,709
$2,490,408
Government-guaranteed or - insured mortgage loans
101,304
108,749
Total mortgage loans - unpaid principal balance
$2,866,013
$2,599,157
Payment Status of Mortgage Loans
Amounts past due 30 days or more on conventional mortgage loans at September 30, 2026 and December 31, 2025 totaled $25.4
million and $27.5 million, respectively, and are based on amortized cost, which excludes accrued interest receivable.
Note 11.    Deposits.
The FHLBNY accepts demand, overnight and term deposits from its members and government instrumentalities, including the FDIC.
Also, a member that services mortgage loans may deposit funds collected in connection with the mortgage loans as a pending
disbursement to the owners of the mortgage loans.
Interest-bearing demand and overnight deposits represented 98.9% of deposits at September 30, 2026 and 99.4% at December 31,
2025, with the remaining deposits primarily being term deposits and non-interest-bearing deposits.
The following table summarizes deposits (in thousands):
September 30, 2026
December 31, 2025
Interest-bearing demand
$1,944,840
$3,071,958
Non-interest-bearing demand
21,109
18,003
Total deposits (a)
$1,965,949
$3,089,961
(a) Specific disclosures about deposits that exceed FDIC limits have been omitted as deposits are not insured by the FDIC. Deposits
are received in the ordinary course of the FHLBNY’s business. The FHLBNY has pledged securities to the FDIC to collateralize
deposits maintained at the FHLBNY by the FDIC; for more information, see Securities Pledged in Note 8. Held-to-Maturity
Securities.
Note 12.    Consolidated Obligations.
Consolidated obligation discount notes (CO discount notes, Discount notes, or Consolidated discount notes) are issued primarily to
raise short-term funds. Discount notes sell at less than their face amount and are redeemed at par value when they mature.
22
The following table summarizes carrying amounts of Consolidated obligations outstanding (in thousands):
September 30, 2026
December 31, 2025
Consolidated obligation bonds-amortized cost
$105,191,613
$68,433,108
Hedge valuation basis adjustments
(310,447)
(51,438)
Hedge basis adjustments on de-designated hedges
86,533
92,610
FVO - valuation adjustments and accrued interest
(305)
(7,539)
Total Consolidated obligation bonds
$104,967,394
$68,466,741
Discount notes-amortized cost
$71,295,789
$76,011,550
Hedge value basis adjustments
(34,113)
(7,377)
Hedge basis adjustments on de-designated hedges
(585)
(107)
FVO - valuation adjustments and remaining accretion
—
15,451
Total Consolidated obligation discount notes
$71,261,091
$76,019,517
Redemption Terms of Consolidated Obligation Bonds
The following table is a summary of carrying amounts of Consolidated obligation bonds outstanding by year of maturity (dollars in
thousands):
September 30, 2026
December 31, 2025
Maturity
Amount
Weighted   
Average
Rate (a)
Percentage
of Total
Amount
Weighted   
Average
Rate (a)
Percentage
of Total
One year or less
$63,463,545
3.80
%
60.33
%
$40,272,920
3.17
%
58.87
%
Over one year through two years
25,588,390
3.90
24.33
14,512,470
3.47
21.21
Over two years through three years
8,251,965
3.88
7.85
4,762,065
3.38
6.96
Over three years through four years
2,448,295
3.67
2.33
3,671,550
3.89
5.37
Over four years through five years
2,511,400
3.42
2.39
1,662,250
3.50
2.43
Thereafter
2,915,000
4.60
2.77
3,527,400
3.88
5.16
Total par value
105,178,595
3.84
%
100.00
%
68,408,655
3.33
%
100.00
%
Bond premiums (b)
32,371
42,461
Bond discounts (b)
(19,353)
(18,008)
Hedge valuation basis adjustments (c)
(310,447)
(51,438)
Hedge basis adjustments on de-designated
hedges (d)
86,533
92,610
FVO (e) - valuation adjustments and accrued
interest
(305)
(7,539)
Total Consolidated obligation bonds
$104,967,394
$68,466,741
(a)Weighted average rate represents the weighted average contractual coupons of CO bonds, unadjusted for swaps.
(b)Amortization of CO bond premiums and discounts are recorded in interest expense as yield adjustments.
(c)Hedge valuation basis adjustments under ASC 815 fair value hedges represent changes in the fair values of fixed-rate CO bonds
due to changes in the designated benchmark interest rate, remaining terms to maturity or next call, and the notional amounts of
CO bonds designated in hedge relationship. Our primary interest rate benchmarks are Federal Funds-OIS index and SOFR-OIS
index.
(d)Hedge basis adjustments on de-designated hedges represent the unamortized balances of valuation basis of fixed-rate CO bonds
that were previously in a fair value hedging relationship. Generally, when a hedging relationship is de-designated, the valuation
basis is no longer adjusted for changes in the valuation of the debt for changes in the benchmark rate; instead, the basis is
amortized over the debt’s remaining life, so that the unamortized basis is reversed to zero at maturity of the debt.
23
(e)Valuation adjustments on FVO designated CO bonds represent changes in the entire fair values of CO bonds elected under the
FVO plus accrued unpaid interest. Changes in the timing of coupon payments impact outstanding accrued interest. Changes in
benchmark interest rates, notional amounts of CO bonds elected under FVO and remaining terms to maturity or next call will
impact valuation adjustments.
Interest Rate Payment Terms
The following table summarizes par amounts of major types of Consolidated obligation bonds issued and outstanding (dollars in
thousands):
September 30, 2026
December 31, 2025
Amount
Percentage of
Total
Amount
Percentage of
Total
Fixed-rate, non-callable
$15,086,395
14.34
%
$22,142,355
32.37
%
Fixed-rate, callable
15,017,800
14.28
15,927,800
23.28
Step Up, callable
455,000
0.43
1,132,000
1.65
Step Down, callable
52,000
0.05
52,000
0.08
Floating rate, callable
2,120,000
2.02
25,000
0.04
Single-index floating rate
72,447,400
68.88
29,129,500
42.58
Total par value
$105,178,595
100.00
%
$68,408,655
100.00
%
Discount Notes
Consolidated obligation discount notes are issued to raise short-term funds. Discount notes are Consolidated obligations with original
maturities of up to one year. These notes are issued at less than their face amount and redeemed at par when they mature. The
FHLBNY’s outstanding Consolidated obligation discount notes were as follows (dollars in thousands):
September 30, 2026
December 31, 2025
Par value
$71,736,487
$76,476,004
Amortized cost
$71,295,789
$76,011,550
Hedge value basis adjustments (a)
(34,113)
(7,377)
Hedge basis adjustments on de-designated hedges (b)
(585)
(107)
FVO (c) - valuation adjustments and remaining accretion
—
15,451
Total Consolidated obligation discount notes
$71,261,091
$76,019,517
Weighted average interest rate
3.76
%
3.76
%
(a)Hedging valuation basis adjustments — The reported carrying values of hedged CO discount notes are adjusted for changes in
their fair values (fair value basis adjustments or fair value) that are attributable to changes in the benchmark risk being hedged.
Changes in the designated benchmark interest rate, notional amounts of CO discount notes in hedging relationships and
remaining terms to maturity are factors that impact hedge valuation adjustments.
(b)Hedge basis adjustments on de-designated hedges — Represents the unamortized balances of valuation basis of CO discount
notes that were previously in a fair value hedging relationship. Generally, when a hedging relationship is de-designated, the
valuation basis is no longer adjusted for changes in the valuation of the debt for changes in the benchmark rate; instead, the
basis is amortized over the debt’s remaining life, so that the unamortized basis is reversed to zero at maturity of the debt.
(c)FVO valuation adjustments — Valuation adjustments are recorded to recognize changes in the entire or full fair values
including unaccreted discounts on CO discount notes elected under the FVO. Changes in benchmark interest rates, notional
amounts of CO discount notes elected under FVO and remaining terms to maturity are factors that impact valuation
adjustments.
24
Note 13.    Affordable Housing Program and Voluntary Contributions.
The FHLBNY charges the amount allocated for the Affordable Housing Program to expense and recognizes it as a liability. The
FHLBNY relieves the AHP liability as members use the subsidies.
The following table presents a roll-forward of Affordable Housing Program liabilities (in thousands):
Three months ended September 30,
Nine months ended September 30,
2026
2025
2026
2025
Beginning balance
$251,791
$231,652
$247,824
$231,447
Additions from current period’s assessments
17,525
17,767
51,689
52,097
Voluntary Contribution
2,445
—
2,445
—
Net disbursements for grants and programs
(15,714)
(19,119)
(45,911)
(53,244)
Ending balance
$256,047
$230,300
$256,047
$230,300
In addition to statutory AHP assessments and voluntary AHP contributions, the Bank voluntarily contributed $23.8 million year-to-
date, to support voluntary housing and community development programs. Included in this amount is $7.8 million worth of interest
rebates for our Zero-Percent Development Advance (“ZDA”) program which recognizes the interest rebate within Net Interest
Margin.
The following table presents a roll-forward of voluntary contributions liabilities (in thousands):
Three months ended September 30,
Nine months ended September 30,
2026
2025
2026
2025
Beginning balance
$2,209
$2,588
$1,474
$559
Voluntary Contribution
5,238
6,306
15,980
13,624
Net disbursements for grants and programs
(5,630)
(7,581)
(15,637)
(12,870)
Ending balance
$1,817
$1,313
$1,817
$1,313
Note 14.    Capital and Mandatorily Redeemable Capital Stock.
Risk-based Capital — The following table summarizes the FHLBNY’s risk-based capital ratios (dollars in thousands):
September 30, 2026
December 31, 2025
Required (d)
Actual
Required (d)
Actual
Regulatory capital requirements:
Risk-based capital(a)(e)
$1,328,773
$9,491,277
$1,109,154
$8,033,806
Total capital-to-asset ratio
4.00
%
5.03
%
4.00
%
5.13
%
Total capital(b)
$7,546,189
$9,491,277
$6,261,800
$8,033,806
Leverage ratio
5.00
%
7.55
%
5.00
%
7.70
%
Leverage capital(c)
$9,432,736
$14,236,915
$7,827,250
$12,050,709
(a)Actual “Risk-based capital” is capital stock and retained earnings plus mandatorily redeemable capital stock. Section 1277.3 of
the Finance Agency’s regulations also refers to this amount as “Permanent Capital.”
(b)Required “Total capital” is 4.0% of total assets.
(c)The required leverage ratio of total capital to total assets should be at least 5.0%. For the purposes of determining the leverage
ratio, total capital shall be computed by multiplying the Bank’s Permanent Capital by 1.5.
(d)Required minimum.
(e)Under regulatory guidelines issued by the Finance Agency in August 2011 that was consistent with guidance provided by other
federal banking agencies with respect to capital rules, risk weights are maintained at AAA for U.S. Treasury securities and other
25
securities issued or guaranteed by the U.S. Government, government agencies, and government-sponsored entities for purposes
of calculating risk-based capital.
Mandatorily Redeemable Capital Stock
The following table presents a roll-forward of mandatorily redeemable capital stock liabilities (in thousands):
Three months ended September 30,
Nine months ended September 30,
2026
2025
2026
2025
Beginning balance
$7,204
$8,973
$7,585
$4,509
Capital stock subject to mandatory redemption reclassified
from equity
17,690
1,599
19,027
7,710
Redemption of mandatorily redeemable capital stock (a)
(17,218)
(1,382)
(18,936)
(3,029)
Ending balance
$7,676
$9,190
$7,676
$9,190
Accrued interest payable (b)
$133
$175
$133
$175
(a)Redemption includes repayment of excess stock.
(b)The annualized accrual rates were 6.69% for the three months ended September 30, 2026 and 7.60% for the three months ended
September 30, 2025. Accrual rates are based on estimated dividend rates.
Note 15.    Earnings Per Share of Capital.
The FHLBNY has a single class of capital stock, and earnings per share computation is for the Class B capital stock.
The following table sets forth the computation of earnings per share. Basic and diluted earnings per share of capital are the same. The
FHLBNY has no dilutive potential common shares or other common stock equivalents (dollars in thousands except per share
amounts):
Three months ended September 30,
Nine months ended September 30,
2026
2025
2026
2025
Net income
$157,603
$159,741
$464,806
$468,461
Net income available to stockholders
$157,603
$159,741
$464,806
$468,461
Weighted average shares of capital
69,697
57,805
64,848
59,106
Less: Mandatorily redeemable capital stock
(79)
(92)
(75)
(72)
Average number of shares of capital used to calculate earnings
per share
69,618
57,713
64,773
59,034
Basic earnings per share
$2.26
$2.77
$7.18
$7.94
Note 16.    Employee Retirement Plans.
Retirement Plan Expenses — Summary
The following table presents employee retirement plan expenses for the periods ended (in thousands):
26
Three months ended September 30,
Nine months ended September 30,
2026
2025
2026
2025
Qualified Defined Benefit Plan (DB Plan)
$2,848
$2,848
$8,543
$8,543
Non-Qualified Deferred Compensation Plan (DCP)
1,876
2,443
7,095
5,754
Qualified Defined Contribution Plan (DC Plan)
919
896
2,908
2,814
Postretirement Health Benefit Plan
(3)
(10)
(7)
(32)
Total retirement plan expenses
$5,640
$6,177
$18,539
$17,079
Non-Qualified Deferred Compensation Plan (DCP)
Components of the net periodic pension cost for the Defined Benefit component of the Non-Qualified Deferred Compensation Plan
were as follows (in thousands):
Three months ended September 30,
Nine months ended September 30,
2026
2025
2026
2025
Service cost
$339
$303
$1,017
$909
Interest cost
1,036
965
3,108
2,895
Amortization of unrecognized net loss
181
—
543
—
Amortization of unrecognized past service cost
18
18
54
54
Net periodic benefit cost - Defined Benefit component
$1,574
$1,286
$4,722
$3,858
Non-Qualified Deferred Incentive Compensation - Defined
Contribution component
302
1,157
2,373
1,896
Total
$1,876
$2,443
$7,095
$5,754
Postretirement Health Benefit Plan
Components of the net periodic benefit cost for the postretirement health benefit plan were as follows (in thousands):
Three months ended
September 30,
Nine months ended
September 30,
2026
2025
2026
2025
Service cost (benefits attributed to service during the period)
$1
$2
$5
$6
Interest cost on accumulated postretirement health benefit obligation
74
74
222
222
Amortization of (gain)/loss
(78)
(86)
(234)
(260)
Net periodic postretirement health benefit expense/(income)
$(3)
$(10)
$(7)
$(32)
Note 17.    Derivatives and Hedging Activities.
The following table presents the FHLBNY’s derivative activities based on notional amounts (in thousands):
Derivative Notionals
Hedging Instruments Under ASC 815
September 30, 2026
December 31, 2025
Interest rate contracts
Interest rate swaps
$176,452,016
$197,819,179
Interest rate caps
4,710,000
1,000,000
Mortgage delivery commitments
58,816
36,458
Total interest rate contracts notionals
$181,220,832
$198,855,637
27
Offsetting of Derivative Assets and Derivative Liabilities – Net Presentation
The table below presents the gross and net derivatives receivables by contract type and amount for those derivatives contracts for
which netting is permissible under U.S. GAAP as Derivative instruments — nettable. Derivatives receivables have been netted with
respect to those receivables as to which the netting requirements have been met, including obtaining a legal analysis with respect to
the enforceability of the netting (in thousands):
September 30, 2026
December 31, 2025
Derivative
Assets
Derivative
Liabilities
Derivative
Assets
Derivative
Liabilities
Derivative instruments - nettable
Gross recognized amount
Uncleared derivatives
$348,334
$422,972
$366,860
$426,527
Cleared derivatives
993,799
979,214
1,364,582
1,333,517
Total gross recognized amount
1,342,133
1,402,186
1,731,442
1,760,044
Gross amounts of netting adjustments and cash collateral
Uncleared derivatives
(310,783)
(420,983)
(299,375)
(423,355)
Cleared derivatives
(979,056)
(979,056)
(1,332,600)
(1,332,600)
Total gross amounts of netting adjustments and cash collateral
(1,289,839)
(1,400,039)
(1,631,975)
(1,755,955)
Net amounts after offsetting adjustments and cash collateral
$52,294
$2,147
$99,467
$4,089
Uncleared derivatives
$37,551
$1,989
$67,485
$3,172
Cleared derivatives
14,743
158
31,982
917
Total net amounts after offsetting adjustments and cash collateral
$52,294
$2,147
$99,467
$4,089
Derivative instruments - not nettable
Uncleared derivatives (a)
$18
$2,052
$81
$8
Total derivative assets and total derivative liabilities
Uncleared derivatives
37,569
4,041
67,566
3,180
Cleared derivatives
14,743
158
31,982
917
Total derivative assets and total derivative liabilities presented in the
Statements of Condition (b)
$52,312
$4,199
$99,548
$4,097
Non-cash collateral received or pledged (c)
Can be sold or repledged
Security collateral pledged as initial margin to Derivative Clearing
Organization (d)
$839,285
$—
$845,578
$—
Cannot be sold or repledged
Uncleared derivatives securities received as Variation Margin
(25,953)
—
(55,831)
—
Total net amount of non-cash collateral received or repledged
$813,332
$—
$789,747
$—
Total net exposure cash and non-cash (e)
$865,644
$4,199
$889,295
$4,097
Net unsecured amount - Represented by:
Uncleared derivatives
$11,616
$4,041
$11,735
$3,180
Cleared derivatives
854,028
158
877,560
917
Total net exposure cash and non-cash (e)
$865,644
$4,199
$889,295
$4,097
(a)Not nettable derivative instruments are without legal right of offset and were synthetic derivatives representing forward
mortgage delivery commitments of 60 calendar days or less. Amounts were not material, and it was operationally not practical
28
to separate receivables from payables; net presentation was adopted. No cash collateral was involved with the mortgage
delivery commitments.
(b)Amounts represented Derivative assets and liabilities that were recorded in the Statements of Condition. Derivative cash
balances were not netted with non-cash collateral received or pledged, since legal ownership of the non-cash collateral remains
with the pledging counterparty (see footnote (c) below).
(c)Non-cash collateral received or pledged – For certain uncleared derivatives, from time-to-time counterparties have pledged U.S.
Treasury securities to the FHLBNY as collateral. Amounts also included non-cash mortgage collateral on derivative positions
with member counterparties where we acted as an intermediary. For certain cleared derivatives, we have pledged marketable
securities to satisfy initial margin or collateral requirements.
(d)Amounts represented securities collateral pledged to Derivative Clearing Organization (DCO) to fulfill our initial margin
obligations on cleared derivatives. Securities pledged may be sold or repledged if the FHLBNY defaults on its obligations under
rules established by the CFTC.
(e)Amounts represented net exposure after applying non-cash collateral pledged to and by the FHLBNY. Since legal ownership and
control over the securities are not transferred, the net exposure represented in the table above is for information only and is not
reported as such in the Statements of Condition.
Fair Value of Derivative Instruments
The following tables represent outstanding notional balances and estimated fair values of the derivatives outstanding (in thousands):
September 30, 2026
Notional Amount
of Derivatives
Derivative       
Assets
Derivative
Liabilities
Fair value of derivative instruments (a)
Derivatives designated as hedging instruments under ASC 815
Interest rate swaps
$153,597,700
$1,037,579
$1,184,094
Total derivatives in hedging relationships under ASC 815
153,597,700
1,037,579
1,184,094
Derivatives not designated as hedging instruments
Interest rate swaps
22,854,316
297,932
218,092
Interest rate caps
4,710,000
6,622
—
Mortgage delivery commitments
58,816
18
2,052
Total derivatives not designated as hedging instruments
27,623,132
304,572
220,144
Total derivatives before netting and collateral adjustments
$181,220,832
$1,342,151
$1,404,238
Netting adjustments
$(1,274,469)
$(1,274,469)
Cash collateral and related accrued interest
(15,370)
(125,570)
Total netting adjustments and cash collateral
(1,289,839)
(1,400,039)
Total derivative assets and total derivative liabilities
$52,312
$4,199
Security collateral pledged as initial margin to Derivative Clearing Organization (b)
$839,285
Security collateral received from counterparty (b)
(25,953)
Net security
813,332
Net exposure
$865,644
29
December 31, 2025
Notional Amount
of Derivatives
Derivative 
Assets
Derivative
Liabilities
Fair value of derivative instruments (a)
Derivatives designated as hedging instruments under ASC 815
Interest rate swaps
$168,284,750
$1,390,505
$1,440,349
Total derivatives in hedging relationships under ASC 815
168,284,750
1,390,505
1,440,349
Derivatives not designated as hedging instruments
Interest rate swaps
29,534,429
339,938
319,695
Interest rate caps
1,000,000
999
—
Mortgage delivery commitments
36,458
81
8
Total derivatives not designated as hedging instruments
30,570,887
341,018
319,703
Total derivatives before netting and collateral adjustments
$198,855,637
$1,731,523
$1,760,052
Netting adjustments
$(1,610,805)
$(1,610,805)
Cash collateral and related accrued interest
(21,170)
(145,150)
Total netting adjustments and cash collateral
(1,631,975)
(1,755,955)
Total derivative assets and total derivative liabilities
$99,548
$4,097
Security collateral pledged as initial margin to Derivative Clearing Organization (b)
$845,578
Security collateral received from counterparty (b)
(55,831)
Net security
789,747
Net exposure
$889,295
(a)All derivative assets and liabilities with swap dealers and counterparties are executed under collateral agreements; derivative
instruments executed bilaterally are subject to legal right of offset under master netting agreements.
(b)Non-cash security collateral is not permitted to be offset on the balance sheet but would be eligible for offsetting in an event of
default. Amounts represent non-cash collateral and or U.S. Treasury securities pledged to and received from counterparties as
collateral at September 30, 2026 and December 31, 2025.
Fair value hedge gains and losses
Gains and losses on fair value hedges under ASC 815 are summarized below (in thousands):
Gains (Losses) on Fair Value Hedges
Recorded in Interest Income/Expense
Three months ended September 30,
Nine months ended September 30,
2026
2025
2026
2025
Gains (losses) on derivatives in designated and
qualifying fair value hedges:
Interest rate hedges
$562,079
$29,862
$799,942
$(345,973)
Gains (losses) on hedged item in designated and
qualifying fair value hedges:
Interest rate hedges
$(566,572)
$(28,862)
$(804,397)
$343,722
Gains (losses) represent changes in fair values of derivatives and changes in the fair value of hedged items due to changes in the
designated benchmark interest rate, the risk being hedged. Gains and losses on ASC 815 hedges are recorded in the same line in the
Statements of Income as the hedged assets and hedged liabilities.
30
Cumulative Basis Adjustment
The tables below present the carrying amount of FHLBNY’s assets and liabilities under active ASC 815 qualifying fair value hedges
at September 30, 2026 and December 31, 2025, as well as the hedged item’s cumulative hedge basis adjustments, which were
included in the carrying value of assets and liabilities in active hedges. The tables also present unamortized cumulative basis
adjustments from discontinued hedges where the previously hedged item remains on the FHLBNY’s Statements of Condition (in
thousands):
September 30, 2026
Cumulative Fair Value Hedging Adjustment
Included in the Carrying Amount of Hedged 
Items Gains (Losses)
Carrying Amount of
Hedged Assets/
Liabilities (a)
Active Hedging
Relationship
Discontinued Hedging
Relationship
Assets:
Hedged advances
$67,010,611
$(787,834)
$—
Hedged AFS debt securities (a)
8,519,349
(820,324)
—
De-designated AFS debt securities (b)
—
—
(445)
$75,529,960
$(1,608,158)
$(445)
Liabilities:
Hedged Consolidated obligation bonds
$21,797,700
$310,447
$—
Hedged Consolidated obligation discount notes
53,196,478
34,113
—
De-designated Consolidated obligation bonds (b)
—
—
(86,533)
De-designated Consolidated obligation discount notes (b)
—
—
585
$74,994,178
$344,560
$(85,948)
December 31, 2025
Cumulative Fair Value Hedging Adjustment
Included in the Carrying Amount of Hedged 
Items Gains (Losses)
Carrying Amount of
Hedged Assets/
Liabilities (a)
Active Hedging
Relationship
Discontinued Hedging
Relationship
Assets:
Hedged advances
$58,543,501
$(149,229)
$—
Hedged AFS debt securities (a)
7,569,821
(363,372)
—
De-designated AFS debt securities (b)
—
—
(543)
$66,113,322
$(512,601)
$(543)
Liabilities:
Hedged Consolidated obligation bonds
$30,187,853
$51,438
$—
Hedged Consolidated obligation discount notes
70,452,246
7,377
—
De-designated Consolidated obligation bonds (b)
—
—
(92,610)
De-designated Consolidated obligation discount notes (b)
—
—
107
$100,640,099
$58,815
$(92,503)
(a)Carrying amounts represent amortized cost adjusted for cumulative fair value hedging basis. For AFS securities in a fair value
partial-term hedge, changes in the fair values due to changes in the benchmark rate were recorded as an adjustment to
amortized cost and an offset to interest income from the hedged AFS securities.
(b)At September 30, 2026, there were no de-designated advances. At September 30, 2026 par amounts of de-designated AFS debt
securities were $10.0 million; par amounts of de-designated CO bonds were $1.7 billion; par amounts of de-designated CO
31
discount notes were $4.4 billion. At December 31, 2025, par amounts of de-designated advances were $0.5 billion; par amounts
of de-designated AFS debt securities were $10.0 million; par amounts of de-designated CO bonds were $1.4 billion; par
amounts of de-designated CO discount notes were $1.6 billion. Cumulative fair value hedging adjustments for active and
discontinued hedging relationships will remain on the balance sheet until the items are derecognized.
Cash flow hedge gains and losses
The following tables present derivative instruments used in cash flow hedge accounting relationships and the gains and losses
recorded on such derivatives (in thousands):
Derivative Gains (Losses) Recorded in Income and Other Comprehensive Income/Loss
Three months ended September 30,
2026
2025
Amount
Reclassified
from AOCI
to Interest
Expense(b)
Amounts
Reclassified
from AOCI to
Other Income
(Loss) (c)
Amounts
Recorded
in OCI (d)
Total
Change in
OCI for
Period
Amount
Reclassified
from AOCI
to Interest
Expense(b)
Amounts
Reclassified
from AOCI to
Other Income
(Loss) (c)
Amounts
Recorded
in OCI (d)
Total
Change in
OCI for
Period
Interest rate contracts (a)
$146
$—
$11,004
$10,858
$65
$—
$(6,354)
$(6,419)
Derivative Gains (Losses) Recorded in Income and Other Comprehensive Income/Loss
Nine months ended September 30,
2026
2025
Amount
Reclassified
from AOCI
to Interest
Expense(b)
Amounts
Reclassified
from AOCI to
Other Income
(Loss) (c)
Amounts
Recorded
in OCI (d)
Total
Change in
OCI for
Period
Amount
Reclassified
from AOCI
to Interest
Expense(b)
Amounts
Reclassified
from AOCI to
Other Income
(Loss) (c)
Amounts
Recorded
in OCI (d)
Total
Change in
OCI for
Period
Interest rate contracts (a)
$395
$—
$13,857
$13,462
$(193)
$—
$(34,384)
$(34,191)
(a)Amounts represent cash flow hedges of CO debt hedged with benchmark interest rate swaps indexed to a benchmark rate. Under
the guidance in ASC 815, the FHLBNY includes the gain and loss on the hedging derivatives in the same line in the Statements of
Income as the change in cash flows on the hedged item.
(b)Amounts represent amortization of gains (losses) related to closed cash flow hedges of anticipated issuance of CO bonds that
were reclassified during the period to interest expense as a yield adjustment. Gains (losses) reclassified represent gains (losses)
in AOCI that were amortized as an income (expense) to debt interest expense. If debt is held to maturity, gains (losses) in AOCI
will be relieved through amortization. It is expected that over the next 12 months, $7 thousand of the unrecognized gains in
AOCI will be recognized as yield adjustments as an income to debt interest expense.
(c)Under ASC 815, hedge ineffectiveness is reclassified into earnings only if the original transaction is no longer probable of
occurring by the end of the specified time period or within a two-month period thereafter. There were no amounts that were
reclassified into earnings due to discontinuation of cash flow hedges. Reclassification would occur if it became probable that the
original forecasted transactions would not occur by the end of the originally specified time period or within a two-month period
thereafter.
(d)Amounts represent changes in the fair values of open interest rate swap contracts in cash flow hedges of CO debt, primarily
those hedging the rolling issuance of CO discount notes.
32
Economic Hedges
Gains and losses on economic hedges are presented below (in thousands):
Gains (Losses) on Economic Hedges
Recorded in Other Income (Loss)
Three months ended September 30,
Nine months ended September 30,
2026
2025
2026
2025
Gains (losses) on derivatives designated in economic hedges
Interest rate hedges
$61,502
$8,806
$150,304
$(29,341)
Caps
2,615
1,108
3,154
974
Mortgage delivery commitments
(3,824)
466
(4,001)
762
Total gains (losses) on derivatives in economic hedges
$60,293
$10,380
$149,457
$(27,605)
Note 18.    Fair Values of Financial Instruments.
Estimated Fair Values — Summary Tables - Carrying values, the estimated fair values and the levels within the fair value
hierarchy were as follows (in thousands):
September 30, 2026
Estimated Fair Value
Financial Instruments
Carrying
Value
Total
Level 1
Level 2
Level 3 (a)
Netting
Adjustment and
Cash Collateral
Assets
Cash and due from banks
$76,249
$76,249
$76,249
$—
$—
$—
Interest-bearing deposits
3,730,000
3,730,011
—
3,730,011
—
—
Securities purchased under agreements to resell
12,955,000
12,955,030
—
12,955,030
—
—
Federal funds sold
13,825,000
13,825,027
—
13,825,027
—
—
Trading securities
9,459,131
9,459,131
9,459,131
—
—
—
Equity Investments
105,049
105,049
105,049
—
—
—
Available-for-sale securities
12,799,752
12,799,752
540,802
10,591,792
1,667,158
—
Held-to-maturity securities
12,276,399
12,002,522
—
11,835,133
167,389
—
Advances
119,668,944
119,791,966
—
119,791,966
—
—
Mortgage loans held-for-portfolio, net
2,918,011
2,553,573
—
2,553,573
—
—
Accrued interest receivable
662,461
662,461
—
662,461
—
—
Derivative assets
52,312
52,312
—
1,342,151
—
(1,289,839)
Other financial assets
112
112
—
—
112
—
Liabilities
Deposits
1,965,949
1,965,553
—
1,965,553
—
—
Consolidated obligations
Bonds
104,967,394
104,491,935
—
104,491,935
—
—
Discount notes
71,261,091
71,265,453
—
71,265,453
—
—
Mandatorily redeemable capital stock
7,676
7,676
7,676
—
—
—
Accrued interest payable
597,939
597,939
—
597,939
—
—
Derivative liabilities
4,199
4,199
—
1,404,238
—
(1,400,039)
33
December 31, 2025
Estimated Fair Value
Financial Instruments
Carrying
Value
Total
Level 1
Level 2
Level 3 (a)
Netting
Adjustment and
Cash Collateral
Assets
Cash and due from banks
$38,192
$38,192
$38,192
$—
$—
$—
Interest-bearing deposits
2,960,000
2,960,027
—
2,960,027
—
—
Securities purchased under agreements to resell
15,950,000
15,950,204
—
15,950,204
—
—
Federal funds sold
11,550,000
11,550,081
—
11,550,081
—
—
Trading securities
7,387,187
7,387,187
7,387,187
—
—
—
Equity Investments
103,707
103,707
103,707
—
—
—
Available-for-sale securities
12,345,845
12,345,845
560,272
10,121,050
1,664,523
—
Held-to-maturity securities
10,490,167
10,384,380
—
10,237,595
146,785
—
Advances
92,306,684
92,514,300
—
92,514,300
—
—
Mortgage loans held-for-portfolio, net
2,644,449
2,451,042
—
2,451,042
—
—
Accrued interest receivable
523,973
523,973
—
523,973
—
—
Derivative assets
99,548
99,548
—
1,731,523
—
(1,631,975)
Other financial assets
52
52
—
—
52
—
Liabilities
Deposits
3,089,961
3,088,772
—
3,088,772
—
—
Consolidated obligations
Bonds
68,466,741
68,215,010
—
68,215,010
—
—
Discount notes
76,019,517
76,045,773
—
76,045,773
—
—
Mandatorily redeemable capital stock
7,585
7,585
7,585
—
—
—
Accrued interest payable
470,265
470,265
—
470,265
—
—
Derivative liabilities
4,097
4,097
—
1,760,052
—
(1,755,955)
(a)Level 3 Instruments — The fair values of housing finance agency bonds were estimated by management based on pricing
services. Valuations may have required pricing services to use significant inputs that were subjective because of the current lack
of significant market activity; the inputs may not be market-based and observable.
The fair value amounts recorded on the Statements of Condition or presented in the table above have been determined by the
FHLBNY using available market information and our reasonable judgment of appropriate valuation methods.
Fair Value Measurement
The tables below present the fair value of those assets and liabilities that are recorded at fair value on a recurring or non-recurring
basis at September 30, 2026 and December 31, 2025, by level within the fair value hierarchy. Certain mortgage loans that were
partially charged-off were recorded at their collateral values on a non-recurring basis. Real Estate Owned (REO) is measured at the
lower of its carrying amount or fair value less costs to sell.
34
Items Measured at Fair Value on a Recurring Basis (in thousands):
September 30, 2026
Total
Level 1
Level 2
Level 3
Netting
Adjustment and
Cash Collateral
Assets
Trading securities
U.S. Treasury securities
$9,459,131
$9,459,131
$—
$—
$—
Equity Investments
105,049
105,049
—
—
—
Available-for-sale securities
GSE/U.S. agency issued MBS
10,591,792
—
10,591,792
—
—
Housing and U.S. obligations
2,207,960
540,802
—
1,667,158
—
Derivative assets (a)
Interest-rate derivatives
52,294
—
1,342,133
—
(1,289,839)
Mortgage delivery commitments
18
—
18
—
—
Total recurring fair value measurement - Assets
$22,416,244
$10,104,982
$11,933,943
$1,667,158
$(1,289,839)
Liabilities
Consolidated obligation:
Discount notes (to the extent FVO is elected) (b)
$—
$—
$—
$—
$—
Bonds (to the extent FVO is elected) (b)
(124,260)
—
(124,260)
—
—
Derivative liabilities (a)
Interest-rate derivatives
(2,147)
—
(1,402,186)
—
1,400,039
Mortgage delivery commitments
(2,052)
—
(2,052)
—
—
Total recurring fair value measurement - Liabilities
$(128,459)
$—
$(1,528,498)
$—
$1,400,039
35
December 31, 2025
Total
Level 1
Level 2
Level 3
Netting
Adjustment and
Cash Collateral
Assets
Trading securities
U.S. Treasury securities
$7,387,187
$7,387,187
$—
$—
$—
Equity Investments
103,707
103,707
—
—
—
Available-for-sale securities
GSE/U.S. agency issued MBS
10,121,050
—
10,121,050
—
—
Housing and U.S. obligations
2,224,795
560,272
—
1,664,523
—
Derivative assets (a)
Interest-rate derivatives
99,467
—
1,731,442
—
(1,631,975)
Mortgage delivery commitments
81
—
81
—
—
Total recurring fair value measurement - Assets
$19,936,287
$8,051,166
$11,852,573
$1,664,523
$(1,631,975)
Liabilities
Consolidated obligation:
Discount notes (to the extent FVO is elected) (b)
$(577,958)
$—
$(577,958)
$—
$—
Bonds (to the extent FVO is elected) (b)
(556,866)
—
(556,866)
—
—
Derivative liabilities (a)
Interest-rate derivatives
(4,089)
—
(1,760,044)
—
1,755,955
Mortgage delivery commitments
(8)
—
(8)
—
—
Total recurring fair value measurement - Liabilities
$(1,138,921)
$—
$(2,894,876)
$—
$1,755,955
(a)Based on analysis of the nature of the risk, the presentation of interest-rate derivatives as a single class is appropriate.
(b)Based on analysis of the nature of risks of Consolidated obligation bonds measured at fair value, the FHLBNY has determined
that presenting the bonds as a single class is appropriate.
Roll Forward of Level 3 Available-for-Sale Securities (in thousands):
State and Local Housing Finance Agency Obligations
Three months ended September 30,
Nine months ended September 30,
2026
2025
2026
2025
Balance, beginning of the period
$1,666,174
$1,445,172
$1,664,523
$1,297,431
Total gains (losses) included in other comprehensive income
Net unrealized gains (losses)
984
504
3,680
1,830
Purchases
—
—
—
150,000
Settlements
—
—
(1,045)
(3,585)
Balance, end of the period
$1,667,158
$1,445,676
$1,667,158
$1,445,676
36
Items Measured at Fair Value on a Non-recurring Basis (in thousands):
During the period ended September 30, 2026
Fair Value
Level 1
Level 2
Level 3
Mortgage loans held-for-portfolio
$—
$—
$—
$—
Real estate owned
128
—
—
128
Total non-recurring assets at fair value
$128
$—
$—
$128
During the period ended December 31, 2025
Fair Value
Level 1
Level 2
Level 3
Mortgage loans held-for-portfolio
$256
$—
$256
$—
Real estate owned
55
—
—
55
Total non-recurring assets at fair value
$311
$—
$256
$55
Mortgage loans and REO — The FHLBNY measures and records certain impaired mortgage loans and REO (foreclosed properties)
on a non-recurring basis. These assets are subject to fair value adjustments in certain circumstances at the occurrence of the events
during the periods in this report. Impaired loans are primarily loans that are delinquent for 180 days or more, partially charged-off,
with the remaining loans recorded at their collateral values at the dates the loans are charged off. Fair value adjustments on the
impaired loans and real estate owned assets are based primarily on broker price opinions.
In accordance with disclosure provisions, changes in fair value are reported the date the fair value adjustments are recorded, which is
during the period and not as of the period end dates.
Fair Value Option Disclosures
The following tables summarize the activity related to financial instruments for which the FHLBNY elected the fair value
option (a) (in thousands):
Three months ended September 30,
2026
2025
2026
2025
Bonds
Discount Notes
Balance, beginning of the period
$(222,840)
$(1,537,745)
$(5,358,639)
$(565,650)
New transactions elected for fair value option
—
—
—
—
Maturities and terminations
100,000
505,015
5,295,389
—
Net gains (losses) on financial instruments held under fair value option
(1,367)
(11,896)
(2,994)
(696)
Change in accrued interest/unaccreted balance
(53)
(575)
66,244
(5,714)
Balance, end of the period
$(124,260)
$(1,045,201)
$—
$(572,060)
37
Nine months ended September 30,
2026
2025
2026
2025
Bonds
Discount Notes
Balance, beginning of the period
$(556,866)
$(1,704,115)
$(577,958)
$—
New transactions elected for fair value option
—
(5,000)
(5,295,389)
(562,507)
Maturities and terminations
439,840
705,015
5,857,896
—
Net gains (losses) on financial instruments held under fair value option
(7,356)
(40,607)
330
(146)
Change in accrued interest/unaccreted balance
122
(494)
15,121
(9,407)
Balance, end of the period
$(124,260)
$(1,045,201)
$—
$(572,060)
(a)No advances elected under the FVO were outstanding at three and nine months ended September 30, 2026 and September 30,
2025.
Note 19.    Commitments and Contingencies.
The following table summarizes off-balance sheet commitments and contingencies (in thousands):
September 30, 2026
December 31, 2025
Off-balance sheet commitments
Standby letters of credit (a)
$26,670,849
$24,108,844
Consolidated obligation bonds/discount notes traded not settled
2,375,456
15,042
Commitments to fund additional advances
—
150,000
Commitments to fund pension
11,390
11,390
Open delivery commitments (MAP)
58,816
36,458
Total off-balance sheet commitments
$29,116,511
$24,321,734
(a)Financial letters of credit — Standby letters of credit are executed for a fee on behalf of members to facilitate residential
housing, community lending, and members’ asset/liability management or to provide liquidity. A standby letter of credit is a
financing arrangement between the FHLBNY and its member. Members assume an unconditional obligation to reimburse the
FHLBNY for value given by the FHLBNY to the beneficiary under the terms of the standby letter of credit. The FHLBNY may, in
its discretion, permit the member to finance repayment of their obligation by receiving a collateralized advance.
The Bank did not record credit losses on off-balance sheet arrangements for any periods in this report.
Lease Commitments
Operating Leases:
In compliance with the guidance under Topic 842, Leases, we recognize in our Statements of Condition all leases with lease terms
greater than twelve months as a lease liability with a corresponding right-of-use (ROU) asset.
At September 30, 2026 and December 31, 2025, the FHLBNY was obligated under a number of noncancelable leases, predominantly
operating leases for premises. These leases generally have terms of 15 years or less that contain escalation clauses that will increase
rental payments. Operating leases also include backup datacenters and certain office equipment. Operating lease liabilities and
operating lease ROU assets are recognized at the lease commencement date based on the present value of the future minimum lease
payments over the lease term. The future lease payments are discounted at a rate that represents the FHLBNY’s borrowing rate for its
own debt (Consolidated obligation bonds) of a similar term. Operating lease ROU assets include any lease prepayments made, plus
any initial direct costs incurred, less any lease incentives received. Rental expense associated with operating leases is recognized on a
straight-line basis over the lease term. Premise rental expense is included in occupancy expense, and datacenter and other lease
expenses are included in other operating expense in the Statements of Income. Operating lease ROU assets and operating lease
liabilities are reported in the Statements of Condition.
38
The following tables provide summarized information on our operating leases (dollars in thousands):
September 30, 2026
December 31, 2025
Operating Leases (a)
Right-of-use assets
$40,207
$44,289
Lease Liabilities
$49,901
$54,696
(a)We have elected to exclude immaterial amounts of short-term operating lease liabilities in the Right-of-use assets and lease
liabilities.
Three months ended September 30,
Nine months ended September 30,
2026
2025
2026
2025
Operating Lease Expense
$1,798
$1,798
$5,393
$5,393
Operating cash flows - Cash Paid
$2,036
$2,023
$6,106
$6,066
September 30, 2026
December 31, 2025
Weighted Average Discount Rate
3.33
%
3.33
%
Weighted Average Remaining Lease Term
6.53
Years
7.27
Years
Remaining maturities through
Operating lease liabilities
September 30, 2026
December 31, 2025
Remainder of 2026
$2,035
$8,142
2027
8,246
8,246
2028
8,566
8,566
2029
8,512
8,512
2030
8,567
8,567
Thereafter
19,765
19,765
Total undiscounted lease payments
55,691
61,798
Imputed interest
(5,790)
(7,102)
Total operating lease liabilities
$49,901
$54,696
Finance Lease:
In December 2023, the Bank entered into a 5-year finance lease for computer equipment. The finance lease liability and finance lease
ROU asset are recognized at the lease commencement date based on the present value of the future minimum lease payments over the
lease term. The lease liability was $1.2 million as of September 30, 2026 and $1.6 million as of December 31, 2025. The finance
lease ROU asset was $1.2 million as of September 30, 2026 and $1.5 million as of December 31, 2025.
Note 20.    Related Party Transactions.
Debt Assumptions and Transfers. When debt is transferred or assumed, the transactions would be executed in the ordinary course
of the FHLBNY’s business and at negotiated market pricing.
Debt assumptions — No debt was assumed from another FHLBank in the nine months ended September 30, 2026, or September 30,
2025.
Debt transfers — In May 2026, the FHLBNY transferred floating-rate CO Bonds in par amount of $750 million and discount notes
in par amount of $1.0 billion to other FHLBanks. No debt was transferred to another FHLBank in the nine months ended September
30, 2025.
39
Advances Sold or Transferred
No advances were transferred or sold to the FHLBNY or from the FHLBNY to another FHLBank in any periods in this report. When
an advance is transferred or assumed, the transactions would be executed in the ordinary course of the FHLBNY’s business and at
negotiated market pricing.
MPF Program
Under the MPF Program, the FHLBNY participates portions of its purchases of mortgage loans from its members with the FHLBank
of Chicago at market rates. The outstanding balance of the FHLBank of Chicago’s participation interests in the FHLBNY’s MPF
loans was $3.4 million at September 30, 2026 and $2.0 million at December 31, 2025.
Fees paid to the FHLBank of Chicago for providing MPF program services were $0.2 million and $0.7 million for the three and nine
months ended September 30, 2026 and $0.3 million and $0.8 million for the three and nine months ended September 30, 2025.
Mortgage-backed Securities
No mortgage-backed securities were acquired from other FHLBanks during the periods in this report.
Intermediation
From time to time, the FHLBNY acts as an intermediary to purchase derivatives to accommodate its smaller members. These
derivatives are offset with derivatives purchased from unrelated derivatives dealers. The intermediated derivative transactions with
members and derivative counterparties are collateralized. At September 30, 2026 and December 31, 2025, there were no outstanding
derivative transactions with members.
Loans to Other Federal Home Loan Banks
For the nine months ended September 30, 2026, overnight loans extended to other FHLBanks averaged $25.5 million. For the twelve
months ended December 31, 2025 overnight loans extended to other FHLBanks averaged $8.4 million. Generally, loans made to
other FHLBanks are uncollateralized. Interest income from such loans was immaterial in the periods in this report. 
Borrowings from Other Federal Home Loan Banks
The FHLBNY borrows from other FHLBanks, generally for a period of one day. There were no borrowings from other FHLBanks in
the nine months and twelve months ended September 30, 2026 and December 31, 2025, respectively.
Sub-lease of Office Space to Another Federal Home Loan Bank
The FHLBNY is a lessor of shared office space to another FHLBank for a term through August 2028 at an estimated $0.1 million in
annual lease receipts.
Cash and Due from Banks
The compensating cash balances held at Citibank were $30.0 million at September 30, 2026 and $5.0 million at December 31, 2025.
Citibank is a member and stockholder of the FHLBNY. For more information, see Note 3. Cash and Due from Banks.
40
The following tables summarize significant balances and transactions with related parties and transactions (in thousands):
Related Party: Outstanding Assets, Liabilities and Capital:
September 30, 2026
December 31, 2025
Related
Related
Assets
Advances
$119,668,944
$92,306,684
Accrued interest receivable
483,175
384,360
Liabilities and capital
Deposits
$1,965,949
$3,089,961
Mandatorily redeemable capital stock
7,676
7,585
Accrued interest payable
133
148
Affordable Housing Program (a)
256,047
247,824
Capital
$9,380,362
$8,015,103
(a)Represents funds not yet allocated or disbursed to AHP programs.
Related Party: Income and Expense Transactions:
Three months ended September 30,
Nine months ended September 30,
2026
2025
2026
2025
Related
Related
Related
Related
Interest income
Advances
$1,279,638
$1,200,721
$3,491,309
$3,667,872
Interest-bearing deposits
7
4
17
17
Loans to other FHLBanks
428
90
700
367
Interest expense
Deposits
$19,262
$29,623
$60,919
$84,439
Mandatorily redeemable capital stock
118
168
391
414
Service fees and other
$6,457
$5,324
$19,215
$16,362
41
Note 21.    Segment Information and Concentration.
The Bank engages in business activities to provide funding, liquidity, and services to members. The Bank manages these
operations as one operating segment. For the three and nine months ended September 30, 2026, we earned interest income from
one member which accounted for 10% or more of the Bank's total revenue for the respective periods.
The top ten advance holders and associated interest income for the periods then ended are summarized as follows (dollars in
thousands):
September 30, 2026
Three Months
Nine Months
City
State
Par
Advances
Percentage
of Total Par
Value
of Advances
Interest 
Income
Percentage
 (a)
Interest
Income
Percentage
 (a)
Citibank, N.A.
New York
NY
$30,000,000
24.90
%
$308,253
33.14
%
$570,185
23.53
%
MetLife, Inc.:
Metropolitan Life Insurance Company
New York
NY
12,835,000
10.65
118,731
12.76
333,342
13.76
Metropolitan Tower Life Insurance
Company
Whippany
NJ
1,380,000
1.15
12,941
1.39
37,968
1.57
Subtotal MetLife, Inc.
14,215,000
11.80
131,672
14.15
371,310
15.33
Teachers Ins. and Annuity Assoc of America
New York
NY
11,521,200
9.56
134,205
14.43
374,977
15.48
Flagstar Bank, N.A.
Hicksville
NY
8,500,000
7.06
82,471
8.87
251,097
10.37
Equitable Financial Life Insurance Co.
New York
NY
6,865,063
5.70
72,493
7.79
200,465
8.27
Manufacturers and Traders Trust Company
Buffalo
NY
6,300,130
5.23
46,518
5.00
172,125
7.11
New York Life Insurance Company
New York
NY
4,788,000
3.97
50,052
5.38
146,605
6.05
Guardian Life Insurance Co. of America
New York
NY
3,714,110
3.08
38,436
4.13
109,853
4.54
Goldman Sachs Bank USA
New York
NY
3,500,000
2.91
42,147
4.53
150,380
6.21
ESL Federal Credit Union
Rochester
NY
2,676,205
2.22
24,042
2.58
75,276
3.11
Total
$92,079,708
76.43
%
$930,289
100.00
%
$2,422,273
100.00
%
(a)Interest income percentage is the member’s interest income from advances as a percentage of the top 10 members.
December 31, 2025
Twelve Months
City
State
Par Advances
Percentage of
Total Par Value
of Advances
Interest 
Income
Percentage
 (a)
MetLife, Inc.:
Metropolitan Life Insurance Company
New York
NY
$12,835,000
13.88
%
$472,618
15.72
%
Metropolitan Tower Life Insurance Company
Whippany
NJ
1,380,000
1.49
53,636
1.78
Subtotal MetLife, Inc.
14,215,000
15.37
526,254
17.50
Flagstar Bank, N.A.
Hicksville
NY
9,750,000
10.54
525,013
17.47
Citibank, N.A.
New York
NY
9,000,000
9.73
627,210
20.86
Teachers Ins. & Annuity Assoc of America
New York
NY
7,228,900
7.82
330,216
10.98
Equitable Financial Life Insurance Co.
New York
NY
6,865,063
7.42
283,217
9.42
Goldman Sachs Bank USA
New York
NY
5,500,000
5.95
225,157
7.49
New York Life Insurance Company
New York
NY
4,588,000
4.96
166,103
5.53
Guardian Life Insurance Co. of America
New York
NY
3,212,279
3.47
128,077
4.26
Prudential Insurance Company of America
Newark
NJ
2,619,250
2.83
83,396
2.77
Valley National Bank
Morristown
NJ
2,463,604
2.66
111,650
3.71
Total
$65,442,096
70.75
%
$3,006,293
100.00
%
(a)Interest income percentage is the member’s interest income from advances as a percentage of the top 10 members.
42
September 30, 2025
Three Months
Nine Months
City
State
Par
Advances
Percentage
of Total Par
Value
of Advances
Interest 
Income
Percentage
 (a)
Interest 
Income
Percentage
 (a)
MetLife, Inc.:
Metropolitan Life Insurance Company
New York
NY
$12,835,000
13.31
%
$121,581
15.76
%
$356,719
15.33
%
Metropolitan Tower Life Insurance
Company
Whippany
NJ
1,380,000
1.43
13,851
1.80
39,995
1.72
Subtotal MetLife, Inc.
14,215,000
14.74
135,432
17.56
396,714
17.05
Citibank, N.A.
New York
NY
12,000,000
12.45
167,249
21.68
514,552
22.11
Flagstar Bank, N.A.
Hicksville
NY
10,750,000
11.15
129,550
16.79
408,530
17.55
Equitable Financial Life Insurance Co.
New York
NY
6,865,063
7.12
73,383
9.51
217,384
9.34
Teachers Ins. & Annuity Assoc of America
New York
NY
6,846,100
7.10
82,220
10.66
252,662
10.86
Goldman Sachs Bank USA
New York
NY
5,000,000
5.19
58,488
7.58
173,957
7.47
New York Life Insurance Company
New York
NY
3,988,000
4.14
40,898
5.30
123,178
5.29
Guardian Life Insurance Co. of America
Buffalo
NY
3,200,094
3.32
35,533
4.61
94,035
4.04
Prudential Insurance Company of America
Newark
NJ
2,619,250
2.72
21,020
2.72
62,376
2.68
Valley National Bank
Morristown
NJ
2,463,604
2.56
27,785
3.60
84,082
3.61
Total
$67,947,111
70.48
%
$771,558
100.00
%
$2,327,470
100.00
%
(a)Interest income percentage is the member’s interest income from advances as a percentage of the top 10 members.
43
Item 2.    Management’s Discussion and Analysis of Financial Condition and Results of Operations
Forward-Looking Statements
Statements contained in this Quarterly Report on Form 10-Q, including statements describing the objectives, projections, estimates, or
predictions of the Federal Home Loan Bank of New York (“we,” “us,” “our,” “the Bank,” or the “FHLBNY”) may be “forward-
looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934. These statements may use forward-looking terminology, such as “anticipates,” “believes,” “could,” “estimates,” “may,”
“should,” “will,” or other variations on these terms or their negatives. The Bank cautions that, by their nature, forward-looking
statements are subject to a number of risks or uncertainties, including the Risk Factors set forth in Part 1, Item 1A of our Annual
Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on March 20, 2026 (the “2025 Annual
Report”), and the risks set forth below, and that actual results could differ materially from those expressed or implied in these
forward-looking statements. As a result, you are cautioned not to place undue reliance on such statements. These forward-looking
statements speak only as of the date they were made, and the Bank does not undertake to update any forward-looking statement
herein. Forward-looking statements include, among others, the following:
•the Bank’s projections regarding income, retained earnings, dividend payouts, and the repurchase of excess capital stock;
•the Bank’s statements related to gains and losses on derivatives, future credit and impairment charges, and future
classification of securities;
•the Bank’s expectations relating to future balance sheet growth;
•the Bank’s targets under the Bank’s retained earnings plan;
•the Bank’s expectations regarding the size of its mortgage loan portfolio, particularly as compared to prior periods;
•the Bank’s statements related to reform legislation or executive actions, including, without limitation, housing or
government-sponsored enterprise legislation or executive orders; and
•executive, legislative, regulatory and judicial events and actions or other developments that affect the Bank, its members,
counterparties, or investors in the Consolidated obligations of the Federal Home Loan Banks (FHLBanks), such as any
government-sponsored enterprise (GSE) reforms, any changes resulting from the Finance Agency's review and analysis of
the FHLBank System, including recommendations published in response to the executive orders concerning housing
affordability, changes in the Federal Home Loan Bank Act of 1932, as amended (FHLBank Act), changes in applicable
sections of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, or changes in other statutes or
regulations applicable to the FHLBanks.
Actual results may differ from forward-looking statements for many reasons, including, but not limited to, the risk factors set forth in
Part I, Item 1A - Risk Factors of our 2025 Annual Report and the risks set forth below:
•changes in economic and market conditions, including the evolving risks relating to the March 2023 U.S. banking sector
liquidity crisis;
•changes in demand for Bank advances and other products resulting from changes in members’ and FDIC deposit flows and
members’ credit demands or otherwise;
•an increase in advance prepayments as a result of changes in interest rates (including negative interest rates) or other
factors;
•the volatility of market prices, rates, and indices that could affect the value of collateral held by the Bank as security for
obligations of Bank members and counterparties to interest rate exchange agreements and similar agreements;
•political events, including legislative developments and executive orders that affect the Bank, its members, counterparties,
and/or investors in the Consolidated obligations (COs) of the FHLBanks;
44
•competitive forces including, without limitation, other sources of funding available to Bank members, other entities
borrowing funds in the capital markets, and the ability to attract and retain skilled employees;
•the pace of technological change and the ability of the Bank to develop and support technology and information systems,
including the cybersecurity, sufficient to manage the risks of the Bank’s business effectively;
•changes in investor demand for COs and/or the terms of interest rate exchange agreements and similar agreements;
•timing and volume of market activity;
•ability to introduce new or adequately adapt current Bank products and services and successfully manage the risks
associated with those products and services, including new types of collateral used to secure advances;
•risk of loss arising from litigation filed against one or more of the FHLBanks;
•realization of losses arising from the Bank’s joint and several liability on COs;
•risk of loss due to fluctuations in the housing market;
•inflation or deflation;
•issues and events within the FHLBank System and in the political arena that may lead to legislative, regulatory, judicial, or
other developments or executive orders that may affect the marketability of the COs, the Bank’s financial obligations with
respect to COs, and the Bank’s ability to access the capital markets;
•the availability of derivative financial instruments of the types and in the quantities needed for risk management purposes
from acceptable counterparties;
•significant business disruptions resulting from natural or other disasters (including, but not limited to, health emergencies
such as pandemics or epidemics), acts of war (including, but not limited to, the war between Ukraine and Russia or the
conflicts in the Middle East), cyberattacks or terrorism;
•the effect of new accounting standards, including the development of supporting systems;
•membership changes, including changes resulting from mergers or changes in the principal place of business of Bank
members;
•the soundness of other financial institutions, including Bank members, nonmember borrowers, other counterparties, and the
other FHLBanks; and
•the willingness of the Bank’s members to do business with the Bank whether or not the Bank is paying dividends or
repurchasing excess capital stock.
Risks and other factors could cause actual results of the Bank to differ materially from those implied by any forward-looking
statements. These risk factors are not exhaustive. The Bank operates in changing economic, legislative and regulatory environments,
and new risk factors will emerge from time to time. Management cannot predict such new risk factors nor can it assess the impact, if
any, of such new risk factors on the business of the Bank or the extent to which any factor, or combination of factors, may cause actual
results to differ materially from those implied by any forward-looking statements.
45
Organization of Management’s Discussion and Analysis (MD&A).
This MD&A is designed to provide information that will assist the readers in better understanding the FHLBNY’s financial
statements, the changes in key items in the Bank’s financial statements from period to period and the primary factors driving those
changes as well as how accounting principles affect the FHLBNY’s financial statements. The MD&A is organized as follows:
Page
MD&A TABLE & FIGURE REFERENCE
Table(s) & Figure(s)
   
Description
   
Page
1.1
2.1 - 2.8
3.1 - 3.8
4.1 - 4.2
5.1 - 5.11
6.1 - 6.3
8.1 – 8.3
9.1 - 9.12
This overview of management’s discussion and analysis highlights selected information and may not contain all of the information
that is important to readers of this Form 10-Q. For a more complete understanding of events, trends and uncertainties, as well as the
liquidity, capital, credit and market risks, and critical accounting estimates, affecting the Federal Home Loan Bank of New York
(FHLBNY or Bank), this Form 10-Q should be read in its entirety and in conjunction with the Bank’s most recent 2025 Form 10-K
filed on March 20, 2026.
46
Selected Financial Data.
Statements of Condition
(dollars in millions)
September
30, 2026
June 30,
2026
March 31,
2026
December
31, 2025
September
30, 2025
Investments (a)
$65,150
$66,911
$62,892
$60,787
$55,882
Advances
119,669
127,296
110,240
92,307
96,219
Mortgage loans held-for-portfolio, net (b)
2,918
2,761
2,689
2,644
2,560
Total assets
188,655
197,874
176,665
156,545
155,434
Deposits and borrowings
1,966
2,726
1,924
3,090
2,924
Consolidated obligations, net
Bonds
104,967
87,696
66,280
68,467
82,326
Discount notes
71,261
96,790
98,719
76,020
60,973
Total Consolidated obligations
176,228
184,486
164,999
144,487
143,299
Mandatorily redeemable capital stock
8
7
8
8
9
AHP liability
256
252
252
248
230
Capital
Capital stock
6,725
7,044
6,228
5,411
5,582
Retained earnings
Unrestricted
1,336
1,320
1,306
1,286
1,292
Restricted
1,422
1,390
1,359
1,329
1,303
Total retained earnings
2,758
2,710
2,665
2,615
2,595
Accumulated other comprehensive income (loss)
(103)
(20)
(33)
(11)
(48)
Total capital
9,380
9,734
8,860
8,015
8,129
Equity to asset ratio (c)(j)
4.97
%
4.92
%
5.02
%
5.12
%
5.23
%
Statements of Condition
Three months ended
Nine months ended
Averages (See note below; dollars in millions)
September
30, 2026
June 30,
2026
March 31,
2026
December
31, 2025
September
30, 2025
September
30, 2026
September
30, 2025
Investments (a)
$68,544
$64,567
$60,683
$56,290
$58,281
$64,627
$57,325
Advances
124,732
117,915
102,680
91,750
100,672
115,190
103,448
Mortgage loans held-for-portfolio, net
2,850
2,718
2,670
2,603
2,506
2,747
2,429
Total assets
197,092
186,202
166,912
151,569
162,466
183,512
164,328
Interest-bearing deposits and other
borrowings
2,133
2,307
2,456
2,867
2,801
2,297
2,690
Consolidated obligations, net
Bonds
101,156
70,336
65,328
71,240
87,988
79,071
90,051
Discount notes
82,855
103,079
89,105
68,380
61,900
91,657
61,723
Total Consolidated obligations
184,011
173,415
154,433
139,620
149,888
170,728
151,774
Mandatorily redeemable capital stock
8
7
7
8
9
8
7
AHP liability
250
249
247
231
228
249
230
Capital
Capital stock
6,932
6,612
5,877
5,381
5,779
6,477
5,903
Retained earnings
Unrestricted
1,347
1,336
1,313
1,316
1,305
1,332
1,304
Restricted
1,401
1,371
1,340
1,313
1,282
1,371
1,251
Total retained earnings
2,748
2,707
2,653
2,629
2,587
2,703
2,555
Accumulated other comprehensive income
(loss)
(30)
(22)
3
(28)
(83)
(16)
(83)
Total capital
9,650
9,297
8,533
7,982
8,283
9,164
8,375
47
Note — Average balance calculation. For most components of the average balances, a daily weighted average balance is calculated
for the period. When daily weighted average balance information is not available, a simple monthly average balance is calculated.
Operating Results and Other Data
Three months ended
Nine months ended
(dollars in millions, except earnings and
dividends per share, and headcount)
September 30,
2026
June 30,
2026
March 31,
2026
December
31, 2025
September
30, 2025
September
30, 2026
September
30, 2025
Net income
$158
$153
$154
$131
$159
$465
$468
Net interest income (d)
214
214
217
210
212
645
642
Dividends paid in cash (e)
110
109
103
111
115
322
369
AHP expense
18
17
17
15
18
52
52
Return on average equity (f)(g)(j)
6.48
%
6.62
%
7.31
%
6.53
%
7.65
%
6.78
%
7.48
%
Return on average assets (g)(j)
0.32
%
0.33
%
0.37
%
0.34
%
0.39
%
0.34
%
0.38
%
Other non-interest income
(loss)
27
29
18
31
32
74
72
Operating expenses (h)
51
55
55
63
52
161
156
Voluntary Contributions
8
8
3
24
7
19
14
Other expenses (k)
7
8
7
8
8
22
24
Total Operating and Other
expenses
66
71
65
95
66
202
193
Operating expenses ratio (g)(i)(j)
0.10
%
0.12
%
0.13
%
0.17
%
0.13
%
0.12
%
0.13
%
Earnings per share
$2.26
$2.30
$2.62
$2.45
$2.77
$7.18
$7.94
Dividends per share
$1.67
$1.84
$1.92
$1.92
$1.90
$5.43
$6.07
Headcount (Full/part time)
359
367
375
378
375
359
375
(a)Investments include trading securities, available-for-sale securities, held-to-maturity securities, grantor trusts owned by the
FHLBNY, securities purchased under agreements to resell, federal funds, loans to other FHLBanks, and other interest-bearing
deposits.
(b)Allowances for credit losses were $4.9 million, $4.3 million, $3.9 million, $3.7 million, and $3.5 million for the periods ended
September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025 and September 30, 2025, respectively.
(c)Equity to asset ratio is Capital stock plus Retained earnings and Accumulated other comprehensive income (loss) as a percentage
of Total assets.
(d)Net interest income is before the provision for credit losses on mortgage loans.
(e)Excludes dividends accrued to non-members classified as interest expense under the accounting standards for certain financial
instruments with characteristics of both liabilities and equity.
(f)Return on average equity is net income as a percentage of average Capital Stock plus average retained earnings and average
Accumulated other comprehensive income (loss).
(g)Annualized.
(h)Operating expenses include Compensation and Benefits.
(i)Operating expenses as a percentage of Total average assets.
(j)All percentage calculations are performed using amounts in thousands and may not agree if calculations are performed using
amounts in millions.
(k)Other expenses include Finance Agency and Office of Finance expenses.
48
Financial Condition
Table 1.1        Statements of Condition — Period-Over-Period Comparison
(Dollars in thousands)
September 30, 2026
December 31, 2025
Net change in dollar
amount
Net change in
percentage
Assets
Cash and due from banks
$76,249
$38,192
$38,057
99.65
%
Interest-bearing deposits
3,730,000
2,960,000
770,000
26.01
Securities purchased under agreements to resell
12,955,000
15,950,000
(2,995,000)
(18.78)
Federal funds sold
13,825,000
11,550,000
2,275,000
19.70
Trading securities
9,459,131
7,387,187
2,071,944
28.05
Equity Investments
105,049
103,707
1,342
1.29
Available-for-sale securities
12,799,752
12,345,845
453,907
3.68
Held-to-maturity securities
12,276,399
10,490,167
1,786,232
17.03
Advances
119,668,944
92,306,684
27,362,260
29.64
Mortgage loans held-for-portfolio
2,918,011
2,644,449
273,562
10.34
Accrued interest receivable
662,461
523,973
138,488
26.43
Premises, software, and equipment
77,444
84,524
(7,080)
(8.38)
Operating lease right-of-use assets
40,207
44,289
(4,082)
(9.22)
Finance lease right-of-use assets
1,178
1,532
(354)
(23.11)
Derivative assets
52,312
99,548
(47,236)
(47.45)
Other assets
7,578
14,896
(7,318)
(49.13)
Total assets
$188,654,715
$156,544,993
$32,109,722
20.51
%
Liabilities
Deposits
Interest-bearing demand
$1,944,840
$3,071,958
$(1,127,118)
(36.69)
%
Non-interest-bearing demand
21,109
18,003
3,106
17.25
Total deposits
1,965,949
3,089,961
(1,124,012)
(36.38)
Consolidated obligations
Bonds
104,967,394
68,466,741
36,500,653
53.31
Discount notes
71,261,091
76,019,517
(4,758,426)
(6.26)
Total Consolidated obligations
176,228,485
144,486,258
31,742,227
21.97
Mandatorily redeemable capital stock
7,676
7,585
91
1.20
Accrued interest payable
597,939
470,265
127,674
27.15
Affordable Housing Program
256,047
247,824
8,223
3.32
Derivative liabilities
4,199
4,097
102
2.49
Other liabilities
162,935
167,633
(4,698)
(2.80)
Operating lease liabilities
49,901
54,696
(4,795)
(8.77)
Finance lease liabilities
1,222
1,571
(349)
(22.22)
Total liabilities
179,274,353
148,529,890
30,744,463
20.70
Capital
9,380,362
8,015,103
1,365,259
17.03
Total liabilities and capital
$188,654,715
$156,544,993
$32,109,722
20.51
%
49
Balance Sheet overview September 30, 2026 and December 31, 2025
Total assets — Total assets increased to $188.6 billion at September 30, 2026, from $156.5 billion at December 31, 2025, an increase
of $32.1 billion, or 20.5%. Total assets increased primarily due to a $27.4 billion increase in advances, a $2.3 billion increase in
federal funds sold, and a $2.1 billion increase in trading securities, partially offset by a $3.0 billion decrease in securities purchased
under agreements to resell.
Advances — Par balances increased at September 30, 2026 to $120.5 billion, compared to $92.5 billion at December 31, 2025. Short-
term fixed-rate advances increased by 28.0% to $21.7 billion at September 30, 2026, up from $17.0 billion at December 31, 2025.
ARC advances, which are adjustable-rate borrowings, increased by 68.3% to $39.2 billion at September 30, 2026, compared to $23.3
billion at December 31, 2025. The increase in advances was driven primarily by increased activity from one large bank, two insurance
companies, and one regional bank member. Growth reflected higher advance utilization as members bolstered short-term liquidity
positions ahead of quarter-end and managed deposit outflows.
Long-term investment debt securities — Long-term investment debt securities are designated as available-for-sale or held-to-
maturity. Our investment profile primarily consists of GSE and Agency-issued (GSE-issued) securities.
The AFS portfolio increased by $0.5 billion, or 3.7% for the nine months ended September 30, 2026. We acquired $1.6 billion (par) of
fixed-rate GSE-issued MBS in the first three quarters of 2026 of which $1.0 billion (par) was acquired in the third quarter of 2026.
The HTM portfolio increased by $1.8 billion, or 17.0% for the nine months ended September 30, 2026. We acquired $3.1 billion (par)
of floating-rate GSE-issued MBS in the first three quarters of 2026 of which $0.6 billion (par) was acquired in the third quarter of
2026. We acquired $0.2 billion (par) of fixed-rate GSE-issued MBS in the third quarter of 2026.
Trading securities (liquidity portfolio) — The objective of the trading portfolio is to help meet short-term contingency liquidity needs.
During the current year period, we continued to invest in highly liquid U.S. Treasury securities. Trading investments are carried at fair
value, with changes recorded through earnings.
Trading securities increased by $2.1 billion, or 28.1% for the nine months ended September 30, 2026.
We will periodically evaluate our liquidity needs and may add to or dispose of these liquidity investments as deemed prudent based on
liquidity and market conditions. The Finance Agency prohibits speculative trading practices but allows permitted securities to be
deemed held for liquidity if invested in a trading portfolio.
Mortgage loans held-for-portfolio — Mortgage loans are investments in Mortgage Partnership Finance Program and Mortgage Asset
Program. In the third quarter of 2026, the Bank began purchasing participations in MPF loans with the FHLBank of Chicago. As of
September 30, 2026 the Bank had $0.6 million of funded loans under this program. Unpaid principal balance of MPF loans stood at
$1.3 billion at September 30, 2026, a decrease of $101.8 million from the balance at December 31, 2025. Loans are primarily fixed-
rate, single-family mortgages acquired through the MPF Program. Unpaid principal balance of MAP loans stood at $1.5 billion at
September 30, 2026, an increase of $368.7 million from the balance at December 31, 2025. Paydowns for the total portfolio for the
nine months ended September 30, 2026 were $208.3 million compared to $149.1 million for the same period in 2025. Acquisitions for
the nine months ended September 30, 2026 were $490.1 million compared to $367.0 million for the same period in 2025.
Total liabilities — Total liabilities increased to $179.3 billion at September 30, 2026, from $148.5 billion at December 31, 2025, an
increase of $30.7 billion, or 20.7%. Total liabilities increased primarily due to a $31.7 billion, or 22.0%, increase in Consolidated
obligations as a result of increased funding and liquidity needs during the period.
Capital ratios — Our capital position remains strong. Actual risk-based capital was $9.5 billion and $8.0 billion for the periods ending
September 30, 2026 and December 31, 2025, respectively. Required risk-based capital was $1.3 billion at September 30, 2026 and
$1.1 billion at December 31, 2025. To support $188.7 billion of total assets at September 30, 2026, the minimum required total capital
was $7.5 billion or 4.0% of assets. Our actual regulatory risk-based capital was $9.5 billion, exceeding required total capital by $2.0
billion. These ratios have remained consistently above the required regulatory ratios through all periods in this report. For more
information, see financial statements, Note 14. Capital Stock and Mandatorily Redeemable Capital Stock.
Leverage — On September 30, 2026, balance sheet leverage (based on U.S. GAAP) was 20.1 times shareholders’ equity, compared to
19.5 times at December 31, 2025. Balance sheet leverage has generally remained steady over the last several years, although from time
to time we have maintained excess liquidity in highly liquid investments, or cash balances at the Federal Reserve Bank of New York
(FRBNY) to meet unexpected member demand for funds. Increases or decreases in investments have a direct impact on leverage, but
50
generally growth in or shrinkage of advances does not significantly impact balance sheet leverage under existing capital stock
management practices. Members are required to purchase activity-based capital stock to support their borrowings from us, and when
activity-based capital stock is in excess of the amount that is required to support advance borrowings, we redeem the excess capital
stock immediately. Therefore, stockholders’ capital increases and decreases with members’ advance borrowings, and the capital to
asset ratio remains relatively unchanged.
Liquidity — Our liquidity position remains strong, and in compliance with all regulatory requirements, and we do not foresee any
changes to that position. In addition to the liquidity trading portfolio discussed previously, liquid assets at September 30, 2026
included $18.0 million as demand cash balances at the FRBNY, $26.8 billion in short-term and overnight investments in the federal
funds and resale agreements, $10.6 billion of high credit quality GSE-issued available-for-sale securities that are investment grade and
readily marketable and $540.8 million of available-for-sale U.S. Treasury securities.
We also have other regulatory liquidity measures in place, including deposit liquidity and operational liquidity, and other liquidity
buffers.
For more information about our liquidity measures, see section Liquidity, Cash Flows, Short-Term Borrowings and Short-Term Debt,
and Table 8.1 through Table 8.3 in this MD&A.
Advances
Carrying values of advances outstanding were $119.7 billion at September 30, 2026 and $92.3 billion at December 31, 2025. Carrying
values included cumulative hedging basis adjustment losses of $0.8 billion at September 30, 2026 and $0.1 billion at December 31,
2025.
Table 2.1        Advance Trends
178
51
Advances — Product Types
The following table summarizes par values of advances by product type (dollars in thousands):
Table 2.2        Advances by Product Type
September 30, 2026
December 31, 2025
Amounts
Percentage
of Total
Amounts
Percentage
of Total
Adjustable Rate Credit - ARCs
$39,247,000
32.58
%
$23,317,000
25.22
%
Fixed Rate Advances
53,976,698
44.81
46,988,911
50.81
Short-Term Advances
21,748,553
18.05
16,984,886
18.37
Mortgage Matched Advances
269,206
0.22
319,608
0.35
Overnight & Line of Credit (OLOC) Advances
3,638,564
3.02
3,036,265
3.28
All other categories
1,589,265
1.32
1,819,734
1.97
Total par value
120,469,286
100.00
%
92,466,404
100.00
%
Advance discounts
(12,508)
(10,491)
Hedge valuation basis adjustments
(787,834)
(149,229)
Total
$119,668,944
$92,306,684
Member Pledged Collateral
The following table summarizes pledged collateral (in thousands):
Table 2.3        Collateral Supporting Indebtedness to Members
Indebtedness
Collateral (a)
Advances (b)
Other
 Obligations (c)
Total
 Indebtedness
Loans (d)
Securities and 
Deposits (d)
Total (d)
September 30, 2026
$120,469,286
$26,743,284
$147,212,570
$378,803,162
$74,193,426
$452,996,588
December 31, 2025
$92,466,404
$24,190,019
$116,656,423
$379,482,484
$66,900,291
$446,382,775
(a)The level of over-collateralization is on an aggregate basis and may not necessarily be indicative of a similar level of over-
collateralization on an individual member basis. At a minimum, each member pledged sufficient collateral to adequately secure
the member’s outstanding obligation with the FHLBNY. In addition, most members maintain an excess amount of pledged
collateral with the FHLBNY to secure future liquidity needs.
(b)Par value.
(c)Standby financial letters of credit, derivatives, and members’ credit enhancement guarantee amount.
(d)Estimated market value.
The following table shows the breakdown of collateral pledged by members between those in the physical possession of the FHLBNY
or its safekeeping agent, and those that were specifically listed (in thousands):
Table 2.4        Location of Collateral Held
Estimated Market Values
Collateral in
Physical Possession
Collateral
Specifically Listed
Total Collateral
Received
September 30, 2026
$74,745,175
$378,251,413
$452,996,588
December 31, 2025
$68,180,070
$378,202,705
$446,382,775
52
Advances — Interest Rate Terms
The following table summarizes interest-rate payment terms for advances (dollars in thousands):
Table 2.5        Advances by Interest-Rate Payment Terms
September 30, 2026
December 31, 2025
Amounts
Percentage
of Total
Amounts
Percentage
of Total
Fixed-rate (a)
$80,273,849
66.63
%
$68,426,404
74.00
%
Variable-rate (b)
40,195,000
33.37
24,040,000
26.00
Overdrawn demand deposit accounts
437
—
—
—
Total par value
120,469,286
100.00
%
92,466,404
100.00
%
Advance discounts
(12,508)
(10,491)
Hedge valuation basis adjustments
(787,834)
(149,229)
Total
$119,668,944
$92,306,684
(a)Fixed-rate borrowings remained the largest category of advances borrowed by members and includes long-term and short-term
fixed-rate advances. Long-term advances remain a small segment of the portfolio at September 30, 2026, with only 1.4% of
advances in the remaining maturity bucket of greater than 5 years (2.1% at December 31, 2025). For more information, see
financial statements Note 9. Advances.
(b)Variable-rate advances are ARC advances indexed to SOFR-OIS, Federal Funds-OIS or other benchmark indices. The
FHLBNY’s larger members are generally borrowers of variable-rate advances.
53
The following table summarizes Redemption Term of advances (dollars in thousands):
Table 2.6        Advances by Redemption Term
September 30, 2026
December 31, 2025
Change
Redemption Term (dollars in thousands)
Amount
Percentage
Amount
Percentage
Amount
Percentage
Fixed-rate
Due in 1 year or less
$56,801,625
47.15
%
$44,984,380
48.65
%
$11,817,245
26.27
%
Due after 1 year through 3 years
13,197,365
10.95
14,772,665
15.98
(1,575,300)
(10.66)
Due after 3 years through 5 years
8,539,895
7.09
6,131,164
6.63
2,408,731
39.29
Due after 5 years through 15 years
594,258
0.49
687,087
0.74
(92,829)
(13.51)
Total principal amount
79,133,143
65.68
66,575,296
72.00
12,557,847
18.86
Fixed-rate, putable
Due in 1 year or less
102,000
0.08
111,000
0.12
(9,000)
(8.11)
Due after 1 year through 3 years
392,000
0.33
427,500
0.46
(35,500)
(8.30)
Due after 3 years through 5 years
332,000
0.28
703,500
0.76
(371,500)
(52.81)
Due after 5 years through 15 years
45,500
0.04
289,500
0.31
(244,000)
(84.28)
Total principal amount
871,500
0.73
1,531,500
1.65
(660,000)
(43.10)
Variable-rate
Due in 1 year or less
12,610,000
10.47
19,862,000
21.48
(7,252,000)
(36.51)
Due after 1 year through 3 years
2,260,000
1.88
2,053,000
2.22
207,000
10.08
Due after 3 years through 5 years
1,325,000
1.10
1,125,000
1.22
200,000
17.78
Due after 5 years through 15 years
1,000,000
0.83
1,000,000
1.08
—
—
Total principal amount
17,195,000
14.28
24,040,000
26.00
(6,845,000)
(28.47)
Variable-rate, callable or prepayable
Due in 1 year or less
—
—
—
—
—
—
Due after 1 year through 3 years
23,000,000
19.09
—
—
23,000,000
NM
Due after 3 years through 5 years
—
—
—
—
—
—
Due after 5 years through 15 years
—
—
—
—
—
—
Total principal amount
23,000,000
19.09
—
—
23,000,000
NM
Other (a)
Due in 1 year or less
77,462
0.06
76,228
0.08
1,234
1.62
Due after 1 year through 3 years
182,959
0.15
208,261
0.23
(25,302)
(12.15)
Due after 3 years through 5 years
6,942
0.01
33,116
0.04
(26,174)
(79.04)
Due after 5 years through 15 years
1,843
—
2,003
—
(160)
(7.99)
Total principal amount
269,206
0.22
319,608
0.35
(50,402)
(15.77)
Overdrawn and overnight deposit
accounts
437
—
—
—
437
NM
Total principal amount advances
120,469,286
100.00
%
92,466,404
100.00
%
28,002,882
30.28
%
Other adjustments, net (b)
(800,342)
(159,720)
(640,622)
Total advances
$119,668,944
$92,306,684
$27,362,260
NM — Not meaningful.
(a)Includes hybrid, fixed-rate amortizing/mortgage matched, convertible, callable or prepayable, and other advances.
(b)Consists of hedging valuation basis adjustments and unamortized premiums, discounts, and commitment fees.
54
Hedge volume — We hedge advances under the hedge accounting provisions when they qualify under those standards and as
economic hedges when hedge effectiveness accounting provisions cannot be established.
The following table summarizes advances hedged under ASC 815 qualifying hedge by type of structure (in thousands):
Table 2.7        Hedged Advances by Type
Par Amount
September 30, 2026
December 31, 2025
Qualifying hedges
Fixed-rate bullets
$66,846,807
$57,231,100
Fixed-rate putable
871,500
1,531,500
Fixed-rate with embedded cap
80,000
80,000
Total qualifying hedges
$67,798,307
$58,842,600
Aggregate par amount of advances hedged
$67,798,307
$59,309,100
Fair value basis (hedging adjustments)
$(787,834)
$(149,229)
Putable and Callable Advances — The following table summarizes par amounts of advances that were still putable or callable, with
one or more pre-determined option exercise dates remaining (in thousands):
Table 2.8        Putable and Callable Advances
Advances
Par Amount
September 30, 2026
December 31, 2025
Putable
$871,500
$1,531,500
Callable
$23,000,000
$—
No-longer putable/callable
$377,000
$221,000
55
Investments
The following table summarizes changes in investments by categories: Interest-bearing deposits, Money market investments, Trading
securities, Equity investments in Grantor trusts, Available-for-sale securities, and Held-to-maturity securities (Carrying values, dollars
in thousands):
Table 3.1        Investments by Categories
September 30,
2026
December 31,
2025
Dollar
Variance
Percentage
Variance
State and local housing finance agency obligations, net (a)
Available-for-sale securities, at fair value
$1,667,158
$1,664,523
$2,635
0.16
%
Held-to-maturity securities, at carrying value, net
172,059
151,604
20,455
13.49
Total HFA securities
1,839,217
1,816,127
23,090
1.27
U.S. Treasury notes, available-for-sale at fair value
540,802
560,272
(19,470)
(3.48)
Trading securities (b)
9,459,131
7,387,187
2,071,944
28.05
Mortgage-backed securities
Available-for-sale securities, at fair value
10,591,792
10,121,050
470,742
4.65
Held-to-maturity securities, at carrying value, net
12,104,340
10,338,563
1,765,777
17.08
Total MBS securities
22,696,132
20,459,613
2,236,519
10.93
Equity investments in Grantor trusts
105,049
103,707
1,342
1.29
Interest-bearing deposits
3,730,000
2,960,000
770,000
26.01
Securities purchased under agreements to resell
12,955,000
15,950,000
(2,995,000)
(18.78)
Federal funds sold
13,825,000
11,550,000
2,275,000
19.70
Total Investments
$65,150,331
$60,786,906
$4,363,425
7.18
%
(a)We acquired $25.0 million of HTM State and local housing finance agency bonds for the nine months ended September 30, 2026.
Paydowns from the HTM portfolio were $4.5 million and paydowns from the AFS portfolio were $1.0 million for the same period.
(b)We acquired $5.5 billion and sold $2.4 billion par of U.S. Treasury securities in the nine months ended September 30, 2026.
56
The following table summarizes our investment debt securities issuer concentration (dollars in thousands):
Table 3.2        Investment Debt Securities Issuer Concentration
September 30, 2026
December 31, 2025
Long Term Investment (a)
Carrying (b)
Value
Fair value
Carrying value
as a Percentage
of Capital
Carrying (b)
Value
Fair Value
Carrying value
as a Percentage
of Capital
MBS
Fannie Mae
$2,825,741
$2,780,479
30.12
%
$2,107,351
$2,106,342
26.29
%
Freddie Mac
19,865,982
19,642,038
211.78
18,347,280
18,247,320
228.91
Ginnie Mae
4,408
4,408
0.05
4,982
4,982
0.06
Non-MBS, net (c)
2,380,020
2,375,349
25.37
2,376,399
2,371,581
29.65
Total Investment Debt Securities
$25,076,151
$24,802,274
267.32
%
$22,836,012
$22,730,225
284.91
%
Categorized as:
Available-for-Sale Securities
$12,799,752
$12,799,752
$12,345,845
$12,345,845
Held-to-Maturity Securities,
net
$12,276,399
$12,002,522
$10,490,167
$10,384,380
(a)Excludes Trading portfolio.
(b)Carrying values include fair values for AFS securities.
(c)Non-MBS — Includes Housing finance agency bonds and U.S. Government securities.
The following tables summarize external rating information of the held-to-maturity portfolio (carrying values in thousands):
Table 3.3        External Rating of the Held-to-Maturity Portfolio
September 30, 2026
AAA-rated
AA-rated
A-rated
BBB-rated
Below Investment
Grade
Total
Mortgage-backed securities
$—
$12,104,340
$—
$—
$—
$12,104,340
State and local housing finance agency
obligations
—
172,059
—
—
—
172,059
Total Long-term securities
$—
$12,276,399
$—
$—
$—
$12,276,399
December 31, 2025
AAA-rated
AA-rated
A-rated
BBB-rated
Below Investment
Grade
Total
Mortgage-backed securities
$—
$10,338,563
$—
$—
$—
$10,338,563
State and local housing finance agency
obligations
—
151,604
—
—
—
151,604
Total Long-term securities
$—
$10,490,167
$—
$—
$—
$10,490,167
57
The following tables summarize external rating information of the AFS portfolio (the carrying values of AFS investments are at fair
values; in thousands):
Table 3.4        External Rating of the Available-for-Sale Portfolio
September 30, 2026
AAA-rated
AA-rated
A-rated
BBB-rated
Below Investment
Grade
Total
Mortgage-backed securities
$—
$10,591,792
$—
$—
$—
$10,591,792
Housing and U.S. Obligations
154,005
2,053,955
—
—
—
2,207,960
Total Long-term securities
$154,005
$12,645,747
$—
$—
$—
$12,799,752
December 31, 2025
AAA-rated
AA-rated
A-rated
BBB-rated
Below Investment
Grade
Total
Mortgage-backed securities
$—
$10,121,050
$—
$—
$—
$10,121,050
Housing and U.S. Obligations
154,129
2,070,666
—
—
—
2,224,795
Total Long-term securities
$154,129
$12,191,716
$—
$—
$—
$12,345,845
Weighted average rates — Mortgage-backed securities (HTM and AFS) — The following table summarizes weighted average rates
(yields) and amortized cost by contractual maturities (dollars in thousands):
Table 3.5        Mortgage-Backed Securities Weighted Average Rates by Contractual Maturities
September 30, 2026
December 31, 2025
Amortized
Cost
Weighted
Average Rate (a)
Amortized
Cost
Weighted
Average Rate (a)
Mortgage-backed securities
Due in one year or less
$1,428,185
3.33
%
$1,407,215
3.04
%
Due after one year through five years
6,943,112
3.05
6,914,188
3.21
Due after five years through ten years
9,010,542
3.94
8,230,958
3.69
Due after ten years
5,439,280
4.39
3,940,067
4.43
Total Mortgage-backed securities
$22,821,119
3.74
%
$20,492,428
3.62
%
(a)Average yields are derived by dividing interest income by the average amortized cost balances of the related maturity bucket.
A significant portion of the MBS portfolio consists of floating-rate securities and the weighted average rates will change in tandem
with changes in the SOFR-OIS.
58
Fair Value Hedges of Fixed-rate Available-for-sale Mortgage-backed Securities
The Bank has adopted the partial-term hedging guidance within ASC 815, Derivatives and Hedging. This guidance allows the hedging
of only the benchmark interest rate component, rather than the entire coupon, for fixed-rate instruments in a fair value hedge. The
Bank has applied this guidance to hedge designated available-for-sale fixed-rate CMBS. The following table summarizes key data (in
thousands):
Table 3.6        Fair Value Hedges of Fixed-Rate Prepayable CMBS
Fair Value Hedges of Fixed-Rate Prepayable CMBS
September 30, 2026
December 31, 2025
Current face value of hedged CMBS
$10,345,003
$8,800,492
Partial-term hedge face value of hedged CMBS
$9,440,000
$7,985,000
Cumulative basis adjustment gains (losses) (a)
$(820,769)
$(363,915)
Interest rate swap contracts (par)
$9,440,000
$7,985,000
(a)Cumulative basis adjustment gains (losses) at September 30, 2026 and December 31, 2025 included immaterial balances of
unamortized basis as a result of de-designation hedges.
Short-term investments
The following table summarizes par value, amortized cost and the carrying value (fair value) of the trading portfolio (in thousands):
Table 3.7        Trading Securities
Trading Securities
September 30, 2026
December 31, 2025
Par value
$9,670,925
$7,550,925
Amortized cost
$9,646,801
$7,483,249
Carrying/Fair value
$9,459,131
$7,387,187
The following table summarizes economic hedges of fixed-rate trading securities held for liquidity (in thousands):
Table 3.8        Economic Hedges of Fixed-rate Liquidity Trading Securities
Economic Hedges of Fixed-Rate
Trading Securities
September 30, 2026
December 31, 2025
Par/Face amounts of portfolio of U.S. Treasury fixed-rate securities (a)
$9,670,925
$7,550,925
Par amounts of interest rate swaps
$9,640,208
$7,523,057
(a)Balances represent outstanding amounts of U.S. Treasury securities.
Mortgage Loans Held-for-Portfolio, Net
Mortgage loans are carried in the Statements of Condition at amortized cost, less allowance for credit losses. The outstanding unpaid
principal balance was $2.9 billion at September 30, 2026, an increase of $266.9 million (net of acquisitions and paydowns) from the
balance at December 31, 2025. Mortgage loan balances increased due to an increase in acquisitions. During 2026, the Bank purchased
$490.1 million of mortgage loans from members and paydowns were $208.3 million. Serious delinquencies at September 30, 2026
were slightly lower than December 31, 2025. Allowance for credit losses were $4.9 million at September 30, 2026 compared to $3.7
million at December 31, 2025.
59
Loan and PFI Concentration — Loan concentration was in New York State, as many of the largest PFIs are located in New York. The
tables below summarize concentrations — Geographic and PFI.
Table 4.1        Geographic Concentration of Mortgage Loans
September 30, 2026
December 31, 2025
Number of
loans
Amounts
outstanding
Number of
loans
Amounts
outstanding
New York State
71.9
%
67.2
%
69.2
%
62.3
%
New Jersey State
18.1
%
21.5
%
20.3
%
25.4
%
Table 4.2        Top Five Participating Financial Institutions — Concentration (par value, dollars in thousands):
September 30, 2026
Mortgage Loans
Percent of Total
Mortgage Loans
The Lyons National Bank
$305,046
10.64
%
OceanFirst Bank
246,829
8.61
FourLeaf Federal Credit Union
242,104
8.45
Teachers Federal Credit Union
163,948
5.72
Manasquan Bank
123,578
4.31
All Others
1,784,508
62.27
Total
$2,866,013
100.00
%
December 31, 2025
Mortgage Loans
Percent of Total
Mortgage Loans
OceanFirst Bank
$276,575
10.64
%
The Lyons National Bank
205,238
7.90
Teachers Federal Credit Union
160,259
6.17
Manasquan Bank
125,701
4.84
FourLeaf Federal Credit Union
119,448
4.60
All Others
1,711,936
65.85
Total
$2,599,157
100.00
%
Debt Financing Activity and Consolidated Obligations
Our primary source of funds continues to be the issuance of Consolidated obligation bonds and discount notes. In aggregate, carrying
balances of CO bonds and CO discount notes were $176.2 billion and $144.5 billion at September 30, 2026 and December 31, 2025,
respectively. The carrying value of Consolidated obligation bonds was $105.0 billion (par, $105.2 billion) at September 30, 2026,
compared to $68.5 billion (par, $68.4 billion) at December 31, 2025. The carrying value of Consolidated obligation discount notes
outstanding was $71.3 billion at September 30, 2026 and $76.0 billion at December 31, 2025.
Debt Ratings — A FHLBank’s ability to access the capital markets to issue debt, as well as our cost of funds, is dependent on credit
ratings from Nationally Recognized Statistical Rating Organizations. Consolidated obligations of FHLBanks are rated Aa1/P-1 by
Moody’s Ratings (Moody’s), and AA+/A-1+ by S&P.
Joint and Several Liability — Although we are primarily liable for our portion of Consolidated obligations (i.e. those issued on our
behalf), we are also jointly and severally liable with the other FHLBanks for the payment of principal and interest on the Consolidated
obligations of all the FHLBanks. For more information, see financial statements, Note 19. Commitments and Contingencies.
60
Consolidated obligation bonds
The following table summarizes types of Consolidated obligation bonds (CO Bonds) issued and outstanding (dollars in thousands):
Table 5.1        CO Bonds by Type
September 30, 2026
December 31, 2025
Amount
Percentage 
of Total
Amount
Percentage 
of Total
Fixed-rate, non-callable
$15,086,395
14.34
%
$22,142,355
32.37
%
Fixed-rate, callable
15,017,800
14.28
15,927,800
23.28
Step Up, callable
455,000
0.43
1,132,000
1.65
Step Down, callable
52,000
0.05
52,000
0.08
Floating rate, callable
2,120,000
2.02
25,000
0.04
Single-index floating rate
72,447,400
68.88
29,129,500
42.58
Total par value
$105,178,595
100.00
%
$68,408,655
100.00
%
Bond premiums
32,371
42,461
Bond discounts
(19,353)
(18,008)
Hedge valuation basis adjustments (a)
(310,447)
(51,438)
Hedge basis adjustments on de-designated hedges
86,533
92,610
FVO - valuation adjustments and accrued interest
(305)
(7,539)
Total Consolidated obligation bonds
$104,967,394
$68,466,741
.
(a)Hedging valuation basis adjustments — The application of ASC 815 accounting methodology resulted in the recognition of net
cumulative hedge valuation basis gains of $0.3 billion at September 30, 2026 and $0.1 billion at December 31, 2025. Generally,
hedge valuation basis gains and losses are unrealized and are expected to reverse to zero if the CO bonds are held to maturity or
are called on the early option exercise dates.
Fair value basis and valuation adjustments — Key determinants are factors such as run-offs and new transactions designated under
an ASC 815 hedge or elected under the FVO, the forward swap curve, the volatility of the swap rates, and the remaining duration to
maturity. For CO bonds elected under the FVO, the changes in the spread between the swap rate and the Consolidated obligation
debt yields, and changes in interest payable, which is also a component of the entire fair value of FVO CO bonds.
The following table provides information on CO bonds in an ASC 815 qualifying hedge relationship (in thousands):
Table 5.2        CO Bonds Hedged under Qualifying Fair Value Hedges
Consolidated Obligation Bonds
Par Amount
September 30, 2026
December 31, 2025
Qualifying hedges
Fixed-rate bullet bonds
$8,908,910
$14,739,580
Fixed-rate callable bonds
13,223,800
15,509,800
Total qualifying fair value hedges
$22,132,710
$30,249,380
The following table provides information on CO bonds elected under the fair value option (in thousands):
Table 5.3        CO Bonds Elected under the Fair Value Option (FVO)
Consolidated Obligation Bonds
Par Amount
September 30, 2026
December 31, 2025
Bonds designated under FVO
$124,565
$564,405
61
The following table provides information on CO bonds in an economic hedge relationship (in thousands):
Table 5.4        Economic Hedges of CO Bonds (data in table excludes CO bonds elected under the FVO)
Consolidated Obligation Bonds
Par Amount
September 30, 2026
December 31, 2025
Bonds designated as economically hedged
Floating-rate bonds
$20,000
$—
Fixed-rate bonds
$385,000
$200,000
CO Bonds — Maturity or Next Call Date
Callable bonds contain an exercise date or a series of exercise dates that may result in a shorter redemption period. The following table
summarizes par amounts of Consolidated bonds outstanding by years to maturity or next call date (dollars in thousands):
Table 5.5        CO Bonds — Maturity or Next Call Date
September 30, 2026
December 31, 2025
Amount
Percentage of
Total
Amount
Percentage of
Total
Year of maturity or next call date (a)
Due or callable in one year or less
$72,162,045
68.61
%
$49,083,920
71.75
%
Due or callable after one year through two years
23,746,390
22.58
12,350,470
18.05
Due or callable after two years through three years
5,746,265
5.46
3,870,565
5.66
Due or callable after three years through four years
1,132,495
1.08
1,115,850
1.63
Due or callable after four years through five years
571,400
0.54
292,450
0.43
Thereafter
1,820,000
1.73
1,695,400
2.48
Total par value
$105,178,595
100.00
%
$68,408,655
100.00
%
(a)Contrasting Consolidated obligation bonds by contractual maturity dates (see financial statements, Note 12. Consolidated
obligations — Redemption Terms of Consolidated obligation Bonds) with potential call dates (as reported in table above)
illustrates the impact of hedging on the effective duration of the bond. With a callable bond, we have purchased the option to
terminate debt at agreed upon dates from investors. The call options are exercisable as either a one-time option or quarterly. Our
current practice is to exercise our option to call a bond when the swap counterparty exercises its option to call the cancellable
swap hedging the callable bond. Thus, issuance of a callable bond with an associated callable swap significantly alters the
contractual maturity characteristics of the original bond and introduces the possibility of an exercise call date that is significantly
shorter than the contractual maturity.
The following table summarizes callable bonds versus non-callable CO bonds outstanding (par amounts, in thousands):
Table 5.6        Outstanding Callable CO Bonds versus Non-callable CO bonds
September 30, 2026
December 31, 2025
Callable
$17,644,800
$17,136,800
Non-Callable
$87,533,795
$51,271,855
62
CO Discount Notes
The following table summarizes CO discount notes issued and outstanding (dollars in thousands):
Table 5.7        Discount Notes Outstanding
September 30, 2026
December 31, 2025
Par value
$71,736,487
$76,476,004
Amortized cost
$71,295,789
$76,011,550
Hedge value basis adjustments (a)
(34,113)
(7,377)
Hedge basis adjustments on de-designated hedges
(585)
(107)
FVO - valuation adjustments and remaining accretion
—
15,451
Total Consolidated obligation discount notes
$71,261,091
$76,019,517
Weighted average interest rate
3.76
%
3.76
%
(a)Notional amounts of $52.9 billion and $69.8 billion were hedged under ASC 815 qualifying fair value hedges at September 30,
2026 and December 31, 2025, respectively.
The following table summarizes fair value hedges of discount notes (in thousands):
Table 5.8        Fair Value Hedges of Discount Notes
Consolidated Obligation Discount Notes
Principal Amount
September 30, 2026
December 31, 2025
Discount notes hedged under qualifying hedge
$52,936,683
$69,840,769
The following table summarizes economic hedges of discount notes (in thousands):
Table 5.9        Economic Hedges of Discount Notes
Consolidated Obligation Discount Notes
Par Amount
September 30, 2026
December 31, 2025
Discount notes designated as economic hedges
$4,381,544
$1,581,960
The following table summarizes discount notes elected and outstanding under the FVO (in thousands):
Table 5.10        Discount Notes under the Fair Value Option (FVO)
Consolidated Obligation Discount Notes
Par Amount
September 30, 2026
December 31, 2025
Discount notes designated under FVO (a)
$—
$562,507
(a)No discount notes elected under the FVO were outstanding at September 30, 2026.
The following table summarizes cash flow hedges of discount notes (in thousands):
Table 5.11        Cash Flow Hedges of Discount Notes
Consolidated Obligation Discount Notes
Principal Amount
September 30, 2026
December 31, 2025
Discount notes hedged under qualifying hedge (a)
$1,072,000
$1,367,000
(a)Amounts represent discounts notes issued in cash flow “rollover” hedge strategies that hedged the variability of 91-day discount
notes issued in sequence. The maximum length of time over which we are hedging this exposure is 6 years. In this strategy, the
discount note expense, which resets every 91 days, is synthetically converted to fixed cash flows over the hedge periods, thereby
63
achieving hedge objectives. For more information, see financial statements, Cash flow hedge gains and losses in Note 17.
Derivatives and Hedging Activities.
Stockholders’ Capital
The following table summarizes the components of Stockholders’ capital (in thousands):
Table 6.1        Stockholders’ Capital
September 30, 2026
December 31, 2025
Capital Stock (a)
$6,725,683
$5,411,075
Unrestricted retained earnings (b)
1,336,228
1,286,417
Restricted retained earnings (c)
1,421,689
1,328,728
Accumulated other comprehensive income (loss)
(103,238)
(11,117)
Total Capital
$9,380,362
$8,015,103
(a)Stockholders’ Capital — Capital stock increased in line with the increase in advances borrowed. When an advance matures or is
prepaid, the excess capital stock is repurchased by the FHLBNY. When an advance is borrowed or a member joins the FHLBNY’s
membership, the member is required to purchase capital stock.
(b)Unrestricted retained earnings — Net income is added to this balance. Dividends are paid out of this balance. Funds are
transferred to Restricted retained earnings balances as mandated by the FHLBank Joint Capital Enhancement Agreement
(Capital Agreement).
(c)Restricted retained earnings — Restricted retained earnings balance at September 30, 2026 has grown to $1.4 billion from the
time the provisions were implemented in 2011 when the FHLBanks, including the FHLBNY, agreed to set up a restricted retained
earnings account. The FHLBNY will allocate at least 20% of its net income to the FHLBNY’s Restricted retained earnings
account until the balance of the account equals at least 1% of FHLBNY’s average balance of outstanding Consolidated
obligations for the current calendar quarter. By way of reference, the Restricted retained earnings target calculated at
September 30, 2026 was $1.8 billion based on the FHLBNY’s average Consolidated obligations outstanding during the current
calendar quarter, as compared to actual Restricted retained earnings of $1.4 billion at September 30, 2026. Also see Note 14.
Capital Stock and Mandatorily Redeemable Capital Stock.
The following table summarizes the components of AOCI (in thousands):
Table 6.2        Accumulated Other Comprehensive Income (Loss) (AOCI)
September 30, 2026
December 31, 2025
Accumulated other comprehensive income (loss)
Net market value unrealized gains (losses) on available-for-sale securities
$(958,197)
$(395,395)
Net Fair value hedging gains (losses) on available-for-sale securities
820,769
363,915
Net Cash flow hedging gains (losses)
43,196
29,734
Employee supplemental retirement plans
(9,006)
(9,371)
Total Accumulated other comprehensive income (loss)
$(103,238)
$(11,117)
The following table summarizes dividends paid and payout ratios:
Table 6.3        Dividends Paid and Payout Ratios
Nine months ended
September 30, 2026
September 30, 2025
Cash dividends paid per share
$5.43
$6.07
Dividends paid (a)(c)
$322,034
$369,004
Payout ratio (b)
69.28
%
78.77
%
(a)In thousands.
64
(b)Dividend paid during the period divided by net income for the period.
(c)Does not include dividends paid to non-members; for accounting purposes, such dividends are recorded as interest expense.
Derivative Instruments and Hedging Activities
The following tables summarize notional amounts and fair values for the FHLBNY’s derivative exposures as represented by
derivatives in fair value gain positions (in thousands):
Table 7.1        Derivatives Counterparty Credit Ratings
September 30, 2026
Credit Rating
Notional Amount
Net Derivatives
Fair Value 
Before
Collateral
Cash Collateral
Pledged To (From)
Counterparties (a)
Balance Sheet Net
Credit Exposure
Non-
Cash Collateral
Pledged To (From)
Counterparties (b)
Net Credit
Exposure to
Counterparties
Non-member counterparties
Asset positions with credit
exposure
Uncleared derivatives
Double A asset (c)
$203,000
$2,374
$(2,200)
$174
$—
$174
Single A asset (c)
7,742,300
43,605
(7,490)
36,115
(25,953)
10,162
Triple B asset (c)
2,650,000
6,016
(5,530)
486
—
486
Cleared derivatives assets (d)
150,798,560
14,743
—
14,743
816,426
831,169
161,393,860
66,738
(15,220)
51,518
790,473
841,991
Liability positions with credit
exposure
Uncleared derivatives
Single A liability (c)
4,454,000
(35,486)
36,280
794
—
794
Cleared derivatives liability (d)
420,157
—
—
—
22,859
22,859
4,874,157
(35,486)
36,280
794
22,859
23,653
Total derivative positions with
non-member counterparties to
which the Bank had credit
exposure
166,268,017
31,252
21,060
52,312
813,332
865,644
Delivery commitments
Derivative position with
delivery commitments
58,816
—
—
—
—
—
Total derivative position with
members
58,816
—
—
—
—
—
Total
$166,326,833
$31,252
$21,060
$52,312
$813,332
$865,644
Derivative positions without credit
exposure
$14,952,815
Total notional amount
$181,220,832
65
December 31, 2025
Credit Rating
Notional Amount
Net Derivatives
Fair Value 
Before
Collateral
Cash Collateral
Pledged To (From)
Counterparties (a)
Balance Sheet Net
Credit Exposure
Non-
Cash Collateral
Pledged To (From)
Counterparties (b)
Net Credit
Exposure to
Counterparties
Non-member counterparties
Asset positions with credit
exposure
Uncleared derivatives
Single A asset (c)
$9,437,250
$53,873
$12,620
$66,493
$(55,758)
$10,735
Cleared derivatives assets (d)
159,123,222
31,982
—
31,982
813,135
845,117
168,560,472
85,855
12,620
98,475
757,377
855,852
Liability positions with credit
exposure
Uncleared derivatives
Single A liability (c)
4,530,550
(24,300)
25,300
1,000
—
1,000
Cleared derivatives liability (d)
414,657
—
—
—
32,443
32,443
4,945,207
(24,300)
25,300
1,000
32,443
33,443
Total derivative positions with
non-member counterparties to
which the Bank had credit
exposure
173,505,679
61,555
37,920
99,475
789,820
889,295
Delivery commitments
Derivative position with
delivery commitments
36,458
73
—
73
(73)
—
Total derivative position with
members
36,458
73
—
73
(73)
—
Total
$173,542,137
$61,628
$37,920
$99,548
$789,747
$889,295
Derivative positions without credit
exposure
$25,349,958
Total notional amount
$198,855,637
(a)When collateral is posted to counterparties in excess of fair value liabilities that are due to counterparties, the excess collateral is
classified as a component of derivative assets, as the excess represents a receivable and an exposure for the FHLBNY.
(b)Non-cash collateral securities. Non-cash collateral was not deducted from net derivative assets on the balance sheet as control
over the securities was not transferred.
(c)NRSRO Ratings.
(d)On cleared derivatives, we are required to pledge initial margin (considered as collateral) to Derivative Clearing Organizations
(DCOs) in cash or securities. We had pledged $839.3 million and $845.6 million in marketable securities as collateral at
September 30, 2026 and December 31, 2025, respectively. At September 30, 2026 and December 31, 2025, we did not pledge
cash as collateral.
Liquidity, Cash Flows, Short-Term Borrowings and Short-Term Debt
Our liquidity position remains in compliance with all regulatory requirements and management does not foresee any changes to that
position.
Finance Agency Regulations — Liquidity
Regulatory requirements are specified in 12 CFR Parts 1239, 1270 and 1277 of the Finance Agency regulations and Advisory Bulletin
2018-07. Each FHLBank shall at all times have at least an amount of liquidity equal to the current deposits received from its members
that may be invested in: (1) Obligations of the United States; (2) Deposits in banks or trust companies; and (3) Advances with a
remaining maturity not to exceed five years that are made to members in conformity with Part 1266. We are required to hold positive
cash flow assuming no access to capital markets and assuming renewal of all maturing advances for a period of between ten to thirty
66
calendar days and to maintain liquidity limits to reduce the risks associated with a mismatch in asset and liability maturities, including
an undue reliance on short-term debt funding.
In addition, the Bank provides for Contingency Liquidity, which is defined as the sources of cash the Bank may use to meet its
operational requirements when its access to the capital markets is impeded. We met our Contingency Liquidity requirements during all
periods in this report. Liquidity in excess of requirements is summarized in the table titled Contingency Liquidity.
Liquidity Management
We actively manage our liquidity position to maintain stable, reliable, and cost-effective sources of funds while taking into account
market conditions, member demand and the maturity profile of our assets and liabilities. We recognize that managing liquidity is
critical to achieving our statutory mission of providing low-cost ready liquidity to our members. In managing liquidity risk, we are
required to maintain certain liquidity measures in accordance with the FHLBank Act, an Advisory Bulletin and policies developed by
management and approved by our Board of Directors. Our policies are designed to support the Bank’s ability to provide prompt, on-
demand liquidity to our members without the immediate need to access the Consolidated obligation debt markets.
The applicable liquidity requirements are described in the next four sections.
Deposit Liquidity. We are required to invest an aggregate amount at least equal to the amount of current deposits received from
members in: (1) Obligations of the United States; (2) Deposits in banks or trust companies; or (3) Advances with a remaining maturity
not to exceed five years that are made to members in conformity with 12 CFR Part 1266. In addition to accepting deposits from our
members, we may accept deposits from other FHLBanks or from any other governmental instrumentality. We met these requirements
at all times. Quarterly average reserves and actual reserves are summarized below (in millions):
Table 8.1        Deposit Liquidity
For the Quarters Ended
Average Deposit
Reserve Required
Average Actual
Deposit Liquidity
Excess
September 30, 2026
$2,155
$123,219
$121,064
June 30, 2026
2,332
116,285
113,953
March 31, 2026
2,485
100,936
98,451
December 31, 2025
2,886
89,905
87,019
Operational Liquidity. We must be able to fund our activities as our balance sheet changes from day-to-day. We maintain the capacity
to fund balance sheet growth through regular money market and capital market funding and investment activities. We monitor our
operational liquidity needs by regularly comparing our demonstrated funding capacity with potential balance sheet growth. We take
such actions as may be necessary to maintain adequate sources of funding for such growth. Operational liquidity is measured daily.
We met these requirements at all times.
The following table summarizes excess operational liquidity (in millions):
Table 8.2        Operational Liquidity
For the Quarters Ended
Average Balance Sheet
Liquidity Requirement
Average Actual
Operational Liquidity
Excess
September 30, 2026
$29,724
$58,297
$28,573
June 30, 2026
30,260
53,517
23,257
March 31, 2026
24,495
50,476
25,981
December 31, 2025
24,437
48,370
23,933
Contingency Liquidity. The Bank holds “contingency liquidity” in an amount sufficient to meet our liquidity needs if we are unable to
access the Consolidated obligation debt markets for at least five business days. Contingency liquidity includes: (1) marketable assets
with a maturity of one year or less; (2) self-liquidating assets with a maturity of one year or less; (3) assets that are generally
acceptable as collateral in the repurchase market; and (4) irrevocable lines of credit from financial institutions receiving not less than
the second-highest credit rating from a NRSRO. We consistently exceed the minimum requirements for contingency liquidity.
Contingency liquidity is measured daily. We met these requirements at all times.
67
The following table summarizes excess contingency liquidity (in millions):
Table 8.3        Contingency Liquidity
For the Quarters Ended
Average Five Day
Requirement
Average Actual
Contingency Liquidity
Excess
September 30, 2026
$4,032
$57,403
$53,371
June 30, 2026
3,295
51,522
48,227
March 31, 2026
4,293
48,491
44,198
December 31, 2025
3,279
44,267
40,988
The Liquidity standards in our risk management policy address our day-to-day operational and contingency liquidity needs. These
standards enumerate the specific types of investments to be held to satisfy such liquidity needs and are outlined above. These
standards also establish the methodology to be used in determining our operational and contingency needs. We continually monitor
and project our cash needs, daily debt issuance capacity, and the amount and value of investments available for use in the market for
repurchase agreements. We use this information to determine our liquidity needs and to develop appropriate liquidity plans.
The Finance Agency’s Liquidity Advisory Bulletin 2018-07 requires the Bank to maintain between 10 and 30 calendar days (“the
Range”) of positive cash flow assuming all advances renew and to hold liquidity in a specified range of the notional of our outstanding
standby financial letters of credit. The FHFA has periodically issued non-public supervisory letters that establish base case guidance
within the Range. The Advisory Bulletin also provides guidance on maintaining appropriate funding gaps for three-month and one-
year maturity horizons. We remained in compliance with the funding gaps provision and all Liquidity regulations.
Other Liquidity Contingencies. As discussed more fully under the section Debt Financing Activity and Consolidated obligations, we
are primarily liable for Consolidated obligations issued on our behalf. We are also jointly and severally liable with the other
FHLBanks for the payment of principal and interest on the Consolidated obligations of all the FHLBanks. If the principal or interest
on any Consolidated obligation issued on our behalf is not paid in full when due, we may not pay dividends, redeem or repurchase
shares of stock of any member or non-member stockholder until the Finance Agency approves our Consolidated obligation payment
plan or other remedy and until we pay all the interest or principal currently due on all our Consolidated obligations. The Finance
Agency, at its discretion, may require any FHLBank to make principal or interest payments due on any Consolidated obligations.
Finance Agency regulations also state that the FHLBanks must maintain, free from any lien or pledge, the following types of assets in
an amount at least equal to the amount of Consolidated obligations outstanding: Cash; Obligations of, or fully guaranteed by, the
United States; Secured advances; Mortgages that have any guaranty, insurance, or commitment from the United States or any agency
of the United States; and investments described in section 16(a) of the FHLBank Act, including securities that a fiduciary or trust fund
may purchase under the laws of the state in which the FHLBank is located.
Results of Operations
The following section provides a comparative discussion of the FHLBNY’s results of operations for the three and nine months ended
September 30, 2026 and 2025. For a discussion of the critical accounting estimates used by the FHLBNY that affect the results of
operations, see financial statements, Note 1. Summary of Significant Accounting Policies in the Bank's most recent 2025 Form 10-K
filed on March 20, 2026.
Net Income
Interest income from advances is the principal source of revenue. Other sources of revenue are interest income from investment debt
securities, liquidity trading securities, mortgage loans in the MPF and MAP portfolio, securities purchased under agreements to resell
and federal funds sold. Fair value gains and losses on liquidity trading securities and equity investments also impact net income. The
primary expense is interest paid on Consolidated obligation debt. Other expenses are primarily compensation and benefits, operating
expenses, our share of operating expenses of the Office of Finance and the FHFA, voluntary contributions, and affordable housing
program assessments on net income. Other significant factors affecting our net income include the volume and timing of investments
in mortgage-backed securities, prepayments of advances, charges due to debt repurchased, gains and losses from derivatives and
hedging activities, and earnings from investing our shareholders’ capital.
68
Summarized below are the principal components of net income (in thousands):
Table 9.1        Principal Components of Net Income
Three months ended September 30,
Nine months ended September 30,
2026
2025
2026
2025
Total interest income
$1,963,831
$1,850,248
$5,397,598
$5,567,568
Total interest expense
1,749,306
1,638,275
4,752,502
4,926,065
Net interest income before provision for credit losses
214,525
211,973
645,096
641,503
Provision (Reversal) for credit losses
675
(288)
1,267
(148)
Net interest income after provision for credit losses
213,850
212,261
643,829
641,651
Total other income (loss)
27,389
31,948
74,479
72,030
Total other expenses
66,111
66,701
201,813
193,123
Income before assessments
175,128
177,508
516,495
520,558
Affordable Housing Program Assessments
17,525
17,767
51,689
52,097
Net income
$157,603
$159,741
$464,806
$468,461
Net Income — 2026 Third Quarter Compared to 2025 Third Quarter
Net income — For the FHLBNY, net income consists of net interest income, less the provision (or reversal) for credit losses, plus
other income (loss), less other expenses and assessments set aside for the FHLBNY’s Affordable Housing Program. Net income for
the third quarter of 2026 was $157.6 million, a decrease of $2.1 million, or 1.3%, compared to the third quarter of 2025. The decrease
in net income was driven by changes in the components discussed below.
Net interest income — Net interest income before the provision for credit losses was $214.5 million, an increase of $2.6 million, or
1.2%, compared to the same period in 2025. Net interest spread was 24 basis points for the third quarter of 2026 compared to 30 basis
points in the prior-year period. For additional information, see Table 9.2 Net Interest Income and accompanying discussions in this
MD&A.
Other income (loss) — Other income (loss) was a gain of $27.4 million in the third quarter of 2026, compared to a gain of $31.9
million in the same period in 2025. The decrease in non-interest income was primarily due to market value decreases in mortgage
commitments and employee non-qualified retirement plan assets, particularly as yields increased through the quarter. These impacts
were partially offset by an increase in net unrealized fair value gains on derivatives and trading securities held for liquidity
management.
•Service fees and other totaled $6.5 million in the third quarter of 2026, compared to $5.3 million in the prior-year period.
Service fees and other primarily consist of fees earned from financial letters of credit.
•Financial instruments carried at fair values resulted in net valuation losses of $4.4 million in the third quarter of 2026,
compared to net valuation losses of $12.6 million in the same period in 2025. For additional information, see financial
statements, Fair Value Option Disclosures in Note 18. Fair Values of Financial Instruments. Also see Table 9.9 Other Income
(Loss) and accompanying discussions in this MD&A.
•Derivative activities generated net gains of $60.3 million in the third quarter of 2026, compared to net gains of $10.4 million
in the same period in 2025. For more information, see Table 9.11 Other Income (Loss) — Impact of Derivative Gains and
Losses and accompanying discussions in this MD&A.
•Securities gains (losses) reflected net fair value losses of $32.2 million in the third quarter of 2026, compared to net fair
value gains of $23.6 million in the prior-year period.
•Equity Investments held to fund obligations under a nonqualified pension plan generated net fair value losses of $2.8
million in the third quarter of 2026 compared to net gains of $5.3 million in the same period in 2025.
69
Other expenses were $66.1 million in the third quarter of 2026, compared to $66.7 million in the same period in 2025. Other
expenses primarily consist of operating expenses, compensation and benefits, our share of expenses of the Office of Finance and the
Federal Housing Finance Agency, and voluntary contributions.
•Operating expenses were $21.9 million in the third quarter of 2026, down from $22.9 million in the prior-year period. The
decrease in operating expenses was primarily attributable to fewer license fees.
•Compensation and benefits expense was $29.1 million in the third quarter of 2026, compared to $29.4 million in the same
period in 2025.
•Voluntary contributions were $7.7 million in the third quarter of 2026, compared to $6.3 million in the prior-year period.
These contributions supported various housing program initiatives, grants and charitable contributions. These voluntary
contributions are in excess of the Bank’s AHP statutory requirement.
•Finance Agency and Office of Finance expenses allocated for our share of the costs to operate the Office of Finance and the
Federal Housing Finance Agency were $5.2 million in the third quarter of 2026, compared to $6.1 million in the third quarter
of 2025.
•Other expenses were $2.2 million in the third quarter of 2026, compared to $2.0 million in the same period in 2025.
Net Income — Year-to-Date Period Ended September 30, 2026, Compared to Year-to-Date Period Ended September 30, 2025
Net income — Net income for the current year was $464.8 million, a decrease of $3.7 million, or 0.8% compared to the same period
in 2025.
Net interest income — Net interest income before the provision for credit losses was $645.1 million, an increase of $3.6 million, or 
0.6%, compared to the same period in 2025. Net interest spread decreased to 29 basis points for the current year-to-date period from
30 basis points in the prior-year period. For additional information, see Table 9.2 Net Interest Income and accompanying discussions
in this MD&A.
Other income (loss) — Other income (loss) in the year-to-date period was a gain of $74.5 million compared to a gain of $72.0 million
in the same period in the prior year.
•Service fees and other totaled $19.2 million in the current year, compared to $16.3 million in the prior-year period.
•Financial instruments carried at fair values resulted in net valuation losses of $7.0 million in the current year, compared to
net valuation losses of $40.8 million in the same period in 2025. For additional information, see financial statements, Fair
Value Option Disclosures in Note 18. Fair Values of Financial Instruments. Also see Table 9.9 Other Income (Loss) and
accompanying discussions in this MD&A.
•Derivative activities generated net gains of $149.5 million in the current year, compared to net losses of $27.6 million in the
same period in 2025. For more information, see Table 9.11 Other Income (Loss) — Impact of Derivative Gains and Losses
and accompanying discussions in this MD&A.
•Securities gains (losses) reflected net fair value losses of $91.9 million in the current year, compared to net fair value gains
of $113.3 million in the prior-year period.
•Equity Investments held to fund obligations under a nonqualified pension plan generated net fair value gains of $4.0 million
in the current year compared to net gains of $10.8 million in the same period in 2025.
•Litigation settlement reported gains of $0.8 million from LIBOR-based financial instrument antitrust litigation in the current
year compared to net gains of $7.0 thousand in the same period in 2025.
Other expenses were $201.8 million in the year-to-date period, compared to $193.1 million in the same period in the prior year.
•Operating expenses were $69.6 million in the year-to-date period, up from $66.0 million in the prior year period primarily
due to technology-related investments.
70
•Compensation and benefits were $91.8 million in the year-to-date period, up from $89.9 million in the prior year period.
•Voluntary contributions were $18.4 million in the year-to-date period, up from $13.6 million in the prior year period.
•Finance Agency and Office of Finance expense allocated for our share of the costs to operate the Office of Finance and the
Federal Housing Finance Agency were $15.5 million in the year-to-date period, compared to $17.5 million in the prior year
period.
•Other expenses were $6.5 million in the year-to-date period and $6.1 million in the prior year period. Other expenses
included non-service elements of Net periodic pension benefit costs, and derivative clearing fees.
Net Interest Income, Interest Rate Margin and Interest Rate Spread
Net interest income is our principal source of net income. It represents the difference between income on interest-earning assets and
expense on interest-bearing liabilities.
The following table summarizes net interest income (dollars in thousands):
Table 9.2        Net Interest Income
Three months ended September 30,
Nine months ended September 30,
2026
2025
Percentage
Change 
2026
2025
Percentage
Change 
Total interest income (a)
$1,963,831
$1,850,248
6.14
%
$5,397,598
$5,567,568
(3.05)
%
Total interest expense (a)
1,749,306
1,638,275
6.78
4,752,502
4,926,065
(3.52)
Net interest income before provision
for credit losses
$214,525
$211,973
1.20
%
$645,096
$641,503
0.56
%
(a)Total Interest Income and Total Interest Expense — See Tables 9.6 and 9.8 and accompanying discussions
Net interest income before the provision for credit losses was $214.5 million for the third quarter of 2026, an increase of $2.6 million,
or 1.2%, compared to the third quarter of 2025. The slight increase primarily reflected higher average interest-earning asset balances,
partially offset by lower market interest rates.  Average interest-earning assets increased to $196.0 billion in the third quarter of 2026
from $161.5 billion in the prior-year period. The average yield on earning assets declined by 58 basis points year over year. The
decline in yields was driven primarily by advances, including overnight, short-term, and variable-rate advances that repriced to lower
rates.
Net interest spread was 24 basis points in the third quarter of 2026 and 30 basis points in the third quarter of 2025. Net interest margin,
which measures net interest income as a percentage of average interest-earning assets, was 43 basis points in the third quarter of 2026,
compared to 52 basis points in the prior-year period. Net spreads decreased in light of a lower growth rate in the investment portfolio
and increased term funding activity to manage the market and funding risk profiles of the balance sheet.
Average stockholders' capital, which generally provides a source of interest-free funding and is typically invested in short-term
interest-earning assets, was $9.7 billion in the third quarter of 2026, compared to $8.4 billion in the third quarter of 2025.
Stockholders' capital, including capital stock and retained earnings, contributed to net interest income by providing funding that does
not incur interest expense.
In the 2026 year-to-date period, Net interest spread was 29 basis points compared to 30 basis points in the same period in 2025. Net
interest margin in the 2026 year-to-date period was 47 basis points compared to 52 basis points in the same period in 2025.
Net interest settlements on derivatives designated as hedges of assets and liabilities under ASC 815 resulted in income of $30.0
million in the third quarter of 2026, compared to expense of $8.1 million in the third quarter of 2025. In the current year-to-date
period, we recorded income of $92.1 million, compared to income of $27.0 million in the prior-year period. Interest settlement income
is driven by the differential between the fixed rates on hedging swaps and the benchmark variable rates associated with the swaps'
floating legs. Changes in net interest settlement income during the period were consistent with movements in benchmark interest rates,
and the related hedging transactions continued to achieve their intended interest rate risk management objectives.
71
Impact of Qualifying Hedges on Net Interest Income
The following table summarizes the impact of net interest adjustments from qualifying hedge interest rate swaps (in thousands):
Table 9.3        Net Interest Adjustments from Qualifying Hedge Interest Rate Swaps
Three months ended September 30,
Nine months ended September 30,
2026
2025
2026
2025
Interest income
$1,919,975
$1,725,990
$5,241,923
$5,192,687
Fair value hedging effects
2,197
(138)
2,753
(2,779)
Amortization of basis adjustment
33
39
102
81
Interest rate swap accruals
51,757
131,820
175,485
408,289
Price alignment amount (a)
(10,131)
(7,463)
(22,665)
(30,710)
Reported interest income
1,963,831
1,850,248
5,397,598
5,567,568
Interest expense
1,730,551
1,507,729
4,686,706
4,577,821
Fair value hedging effects
6,689
(1,138)
7,207
(528)
Amortization of basis adjustment
415
(809)
(2,100)
(1,772)
Interest rate swap accruals
11,548
131,846
59,450
348,969
Price alignment amount (b)
103
647
1,239
1,575
Reported interest expense
1,749,306
1,638,275
4,752,502
4,926,065
Net interest income
$214,525
$211,973
$645,096
$641,503
Net interest adjustment - interest rate swaps
$25,101
$(6,288)
$89,879
$26,637
(a)Relates to derivatives for which variation margin payments are characterized as daily settled contracts. Price alignment amount
in Interest income for advances hedged were $4.7 million expense in the third quarter of 2026 and $3.2 million expense in the
same period in 2025. In the year-to-date period ended September 30, 2026 and 2025, Interest income for advances hedged were
$9.9 million expense and $14.9 million expense. Price alignment amount in Interest income for AFS debt securities hedged were
$5.4 million expense in the third quarter of 2026 and $4.3 million expense in the same period in 2025. In the year-to-date period
ended September 30, 2026 and 2025, Interest income for AFS debt securities hedged were $12.8 million expense and $15.8
million expense.
(b)Relates to derivatives for which variation margin payments are characterized as daily settled contracts. Price alignment amount
in Interest expense for Consolidated obligation bonds hedged were $0.2 million expense in the third quarter of 2026 and $0.8
million expense in the same period in 2025. In the year-to-date period ended September 30, 2026 and 2025, Interest expense for
Consolidated obligation bonds hedged were $1.6 million expense and $1.9 million expense. Price alignment amount in Interest
expense for Consolidated obligation discount notes hedged were $0.1 million income in the third quarter of 2026 and $0.2 million
income in the same period in 2025. In the year-to-date period ended September 30, 2026 and 2025, Interest expense for
Consolidated obligation discount notes hedged were $0.3 million income and $0.3 million income.
72
Spread and Yield Analysis — 2026 period compared to 2025
Table 9.4        Spread and Yield Analysis
Three months ended September 30,
2026
2025
(Dollars in thousands)
Average
Balance
Interest
Income/
Expense
Yield/Rate (a)
Average
Balance
Interest
Income/
Expense
Yield/Rate (a)
Earning Assets:
Advances
$124,732,010
$1,279,638
4.07
%
$100,672,414
$1,200,721
4.73
%
Interest bearing deposits and others
3,943,829
37,384
3.76
3,249,476
36,003
4.40
Securities purchased under agreements to resell
12,308,500
115,468
3.72
7,458,587
81,743
4.35
Federal funds sold
17,799,837
166,922
3.72
18,136,848
199,571
4.37
Investments
Trading securities
9,339,324
74,960
3.18
7,107,332
55,943
3.12
Mortgage-backed securities
Fixed
15,623,390
153,996
3.91
15,124,441
158,209
4.15
Floating
7,012,339
78,214
4.43
5,386,634
69,710
5.13
Available-for-sale Treasuries
555,985
5,403
3.86
224,274
2,185
3.87
State and local housing finance agency obligations
1,836,993
20,628
4.46
1,599,456
20,751
5.15
Mortgage loans held-for-portfolio
2,850,059
30,790
4.29
2,505,762
25,322
4.01
Loans to other FHLBanks
46,196
428
3.67
8,152
90
4.38
Total interest-earning assets
$196,048,462
$1,963,831
3.97
%
$161,473,376
$1,850,248
4.55
%
Funded By:
Consolidated obligation bonds
Fixed
$32,676,589
$294,461
3.58
%
$56,889,846
$591,019
4.12
%
Floating
68,479,087
655,633
3.80
31,098,072
350,708
4.47
Consolidated obligation discount notes
82,855,289
779,538
3.73
61,900,350
665,694
4.27
Interest-bearing deposits and other borrowings
2,162,782
19,556
3.59
2,893,781
30,686
4.21
Mandatorily redeemable capital stock
7,912
118
5.96
9,159
168
7.26
Total interest-bearing liabilities
186,181,659
1,749,306
3.73
%
152,791,208
1,638,275
4.25
%
Other non-interest-bearing funds
187,077
—
316,194
—
Capital
9,679,726
—
8,365,974
—
Total Funding
$196,048,462
$1,749,306
$161,473,376
$1,638,275
Net Interest Income/Spread
$214,525
0.24
%
$211,973
0.30
%
Net Interest Margin
(Net interest income/Earning Assets)
0.43
%
0.52
%
73
Nine months ended September 30,
2026
2025
(Dollars in thousands)
Average
Balance
Interest
Income/
Expense
Yield/Rate (a)
Average
Balance
Interest
Income/
Expense
Yield/Rate (a)
Earning Assets:
Advances
$115,189,574
$3,491,309
4.05
%
$103,447,536
$3,667,872
4.74
%
Interest bearing deposits and others
3,631,453
101,629
3.74
3,263,161
107,880
4.42
Securities purchased under agreements to resell
11,225,696
311,276
3.71
5,729,081
186,842
4.36
Federal funds sold
15,887,300
439,705
3.70
19,440,612
637,534
4.38
Investments
Trading securities
9,472,902
226,070
3.19
7,574,744
180,909
3.19
Mortgage-backed securities
Fixed
15,415,890
449,502
3.90
15,040,579
465,961
4.14
Floating
6,382,322
214,546
4.49
4,888,639
188,005
5.14
Available-for-sale Treasuries
556,651
16,021
3.85
75,579
2,185
3.87
State and local housing finance agency obligations
1,823,883
60,574
4.44
1,510,561
58,149
5.15
Mortgage loans held-for-portfolio
2,746,763
86,266
4.20
2,429,363
71,864
3.96
Loans to other FHLBanks
25,458
700
3.67
11,172
367
4.39
Total interest-earning assets
$182,357,892
$5,397,598
3.96
%
$163,411,027
$5,567,568
4.56
%
Funded By:
Consolidated obligation bonds
Fixed
$34,842,311
$923,156
3.54
%
$56,130,294
$1,722,336
4.10
%
Floating
44,228,789
1,248,480
3.77
33,920,703
1,132,996
4.47
Consolidated obligation discount notes
91,656,920
2,518,835
3.67
61,723,163
1,984,161
4.30
Interest-bearing deposits and other borrowings
2,321,911
61,640
3.55
2,739,514
86,158
4.20
Mandatorily redeemable capital stock
7,528
391
6.95
7,198
414
7.68
Total interest-bearing liabilities
173,057,459
4,752,502
3.67
%
154,520,872
$4,926,065
4.26
%
Other non-interest-bearing funds
120,142
—
432,193
—
Capital
9,180,291
—
8,457,962
—
Total Funding
$182,357,892
$4,752,502
$163,411,027
$4,926,065
Net Interest Income/Spread
$645,096
0.29
%
$641,503
0.30
%
Net Interest Margin
(Net interest income/Earning Assets)
0.47
%
0.52
%
(a) Reported yields with respect to advances and Consolidated obligations may not necessarily equal the coupons on the instruments
as derivatives are extensively used to change the yield and optionality characteristics of the underlying hedged items. When we issue
fixed-rate debt that is hedged with an interest rate swap, the hedge effectively converts the debt into a simple floating-rate bond.
Similarly, we make fixed-rate advances to members and hedge the advances with a pay-fixed and receive-variable interest rate swap
that effectively converts the fixed-rate asset to one that floats with the designated benchmark rate (Federal Funds-OIS or SOFR-OIS)
in the hedging relationship. Average balance sheet information is presented, as it is more representative of activity throughout the
periods presented. For most components of the average balances, a daily weighted average balance is calculated for the period. When
daily weighted average balance information is not available, a simple monthly average balance is calculated. Average yields are
derived by dividing income by the average balances of the related assets, and average costs are derived by dividing expenses by the
average balances of the related liabilities. Yields and spreads are annualized.
74
Rate and Volume Analysis — 2026 period compared to 2025
The Rate and Volume Analysis presents changes in interest income, interest expense and net interest income that are due to changes in
both interest rates and the volume of interest-earning assets and interest-bearing liabilities, and their impact on interest income and
interest expense. Changes in interest income and interest expense that are not identifiable as either volume-related or rate-related, but
rather attributable to both volume and rate changes, are allocated to the volume and rate categories based on the proportion of the
absolute value of the volume and the rate change (in thousands):
Table 9.5        Rate and Volume Analysis
For the three months ended
September 30, 2026 vs. September 30, 2025
Increase (Decrease)
Volume
Rate
Total
Interest Income
Advances
$261,643
$(182,726)
$78,917
Interest bearing deposits and others
7,030
(5,649)
1,381
Securities purchased under agreements to resell
46,885
(13,160)
33,725
Federal funds sold
(3,647)
(29,002)
(32,649)
Investments
Trading securities
17,895
1,122
19,017
Mortgage-backed securities
Fixed
5,109
(9,322)
(4,213)
Floating
19,045
(10,541)
8,504
Available-for-sale Treasuries
3,224
(6)
3,218
State and local housing finance agency obligations
2,864
(2,987)
(123)
Mortgage loans held-for-portfolio
3,639
1,829
5,468
Loans to other FHLBanks
355
(17)
338
Total interest income
364,042
(250,459)
113,583
Interest Expense
Consolidated obligation bonds
Fixed
(226,117)
(70,441)
(296,558)
Floating
365,001
(60,076)
304,925
Consolidated obligation discount notes
204,765
(90,921)
113,844
Deposits and borrowings
(7,028)
(4,102)
(11,130)
Mandatorily redeemable capital stock
(22)
(28)
(50)
Total interest expense
336,599
(225,568)
111,031
Changes in Net Interest Income
$27,443
$(24,891)
$2,552
75
For the nine months ended
September 30, 2026 vs. September 30, 2025
Increase (Decrease)
Volume
Rate
Total
Interest Income
Advances
$389,810
$(566,373)
$(176,563)
Interest bearing deposits and others
11,384
(17,635)
(6,251)
Securities purchased under agreements to resell
156,039
(31,605)
124,434
Federal funds sold
(106,717)
(91,112)
(197,829)
Investments
Trading securities
45,300
(139)
45,161
Mortgage-backed securities
Fixed
11,423
(27,882)
(16,459)
Floating
52,322
(25,781)
26,541
Available-for-sale Treasuries
13,846
(10)
13,836
State and local housing finance agency obligations
11,065
(8,640)
2,425
Mortgage loans held-for-portfolio
9,782
4,620
14,402
Loans to other FHLBanks
401
(68)
333
Total interest income
594,655
(764,625)
(169,970)
Interest Expense
Consolidated obligation bonds
Fixed
(587,638)
(211,542)
(799,180)
Floating
308,980
(193,496)
115,484
Consolidated obligation discount notes
854,775
(320,101)
534,674
Deposits and borrowings
(12,121)
(12,397)
(24,518)
Mandatorily redeemable capital stock
18
(41)
(23)
Total interest expense
564,014
(737,577)
(173,563)
Changes in Net Interest Income
$30,641
$(27,048)
$3,593
76
The principal categories of Interest Income are summarized below (dollars in thousands):
Table 9.6        Interest Income — Principal Sources
Three months ended September 30,
Nine months ended September 30,
2026
2025
Percentage
Change
2026
2025
Percentage
Change
Interest Income
Advances
$1,279,638
$1,200,721
6.57
%
$3,491,309
$3,667,872
(4.81)
%
Interest-bearing deposits
37,384
36,003
3.84
101,629
107,880
(5.79)
Securities purchased under agreements to
resell
115,468
81,743
41.26
311,276
186,842
66.60
Federal funds sold
166,922
199,571
(16.36)
439,705
637,534
(31.03)
Trading securities
74,960
55,943
33.99
226,070
180,909
24.96
Mortgage-backed securities
Fixed
153,996
158,209
(2.66)
449,502
465,961
(3.53)
Floating
78,214
69,710
12.20
214,546
188,005
14.12
Available-for-sale Treasuries
5,403
2,185
147.28
16,021
2,185
633.23
State and local housing finance agency
obligations
20,628
20,751
(0.59)
60,574
58,149
4.17
Mortgage loans held-for-portfolio
30,790
25,322
21.59
86,266
71,864
20.04
Loans to other FHLBanks
428
90
375.56
700
367
90.74
Total interest income
$1,963,831
$1,850,248
6.14
%
$5,397,598
$5,567,568
(3.05)
%
Interest Income
Interest income for the third quarter of 2026 was $2.0 billion, an increase of $113.6 million, or 6.1%, from the same period in 2025.
For context, interest expense increased by 6.8% over the same period.
The increase in interest income was primarily from higher average earning asset balances which increased income by $364.0 million,
partially offset by lower interest rates which reduced income by $250.5 million.
Aggregate yield on earning assets was 3.97% in the third quarter of 2026, compared to 4.55% in the third quarter of 2025. See Table
9.4, Spread and Yield Analysis, and Table 9.5, Rate and Volume Analysis, for additional information regarding the effects of changes
in interest rates and business volume.
Interest income in the 2026 year-to-date period was $5.4 billion, a decrease of $0.2 billion, or 3.1% compared to the same period in the
prior year. For context, interest expense decreased by 3.5% compared to the year-to-date period in the prior year. The decrease in
interest income was primarily attributable to lower interest rates, which reduced income by $0.8 billion, partially offset by a $0.6
billion increase resulting from higher average earning asset balances. Aggregate yield earned on earning assets in the 2026 year-to-
date period was 396 basis points, compared to 456 basis points in the same period in the prior year.
Advances — Interest income from advances increased by $78.9 million or 6.6% in the 2026 third quarter, compared to the same
period in the prior year. Average advances balances increased to $124.7 billion from $100.7 billion in the prior-year period. The
increase in interest income from advances was driven by higher average advances balances, increasing income by $261.6 million,
partially offset by lower market interest rates, which reduced income by $182.7 million.  Lower market rates principally reduced
yields on overnight, short-term, and variable-rate advances as those instruments repriced to lower rates. As a result, the yield on
advances declined to 407 basis points in the third quarter of 2026 from 473 basis points in the third quarter of 2025.
On a year-to-date basis, interest income from advances decreased by $0.2 billion or 4.8%. Average advance balances increased to
$115.2 billion from $103.4 billion; however, the aggregate yield on advances declined to 405 basis points from 474 basis points, more
than offsetting the benefit of higher volumes.
77
Table 9.7        Advance Prepayment Fees (in thousands)
Three months ended September 30,
Nine months ended September 30,
2026
2025
2026
2025
Gross amount of prepayment fees received from advance borrowers
$428
$145
$2,358
$996
Gross amount of prepayment credits paid to advance borrowers
—
—
—
(186)
Hedging fair value adjustments
(31)
—
(564)
310
Other (a)
—
449
4,770
4,643
Total advance prepayment fees, net
$397
$594
$6,564
$5,763
(a)  Recognition of deferred prepayment fees.
The principal categories of Interest expense are summarized below (dollars in thousands):
Table 9.8        Interest Expense — Principal Categories
Three months ended September 30,
Nine months ended September 30,
2026
2025
Percentage
Change
2026
2025
Percentage
Change
Interest Expense
Consolidated obligations bonds
Fixed
$294,461
$591,019
(50.18)
%
$923,156
$1,722,336
(46.40)
%
Floating
655,633
350,708
86.95
1,248,480
1,132,996
10.19
Consolidated obligations discount notes
779,538
665,694
17.10
2,518,835
1,984,161
26.95
Deposits
19,262
29,623
(34.98)
60,919
84,439
(27.85)
Mandatorily redeemable capital stock
118
168
(29.76)
391
414
(5.56)
Cash collateral held and other borrowings
267
1,063
(74.88)
694
1,707
(59.34)
Securities sold under agreement to repurchase
27
—
NM
27
12
125.00
Total interest expense
$1,749,306
$1,638,275
6.78
%
$4,752,502
$4,926,065
(3.52)
%
NM — Not meaningful.
Interest Expense
Interest expense for the third quarter of 2026 was $1.7 billion, an increase of 6.8% from the same period in 2025. The increase was
primarily driven by higher average balances in short-term Consolidated obligations, partially offset by lower market interest rates. For
context, interest income increased 6.1% over the same period in 2025.
Lower interest rates reduced funding costs by $225.6 million, while higher funding volumes increased funding costs by $336.6 million
compared to the third quarter of 2025. The aggregate cost of funds declined to 373 basis points in the third quarter of 2026 from 425
basis points in the prior-year period.
Our funding mix changed during the third quarter of 2026 compared to the same period in 2025, reflecting increased reliance on
floating-rate CO bonds and CO discount notes and a reduced proportion of fixed-rate CO bonds. CO discount notes funded 42.3% of
average earning assets in the third quarter of 2026, compared to 38.3% in the third quarter of 2025. Floating-rate CO bonds funded
34.9% of average earning assets, compared to 19.3% in the third quarter of 2025 while fixed-rate CO bonds funded 16.7% of average
earning assets in the third quarter of 2026, down from 35.2% in the prior-year period.
Interest expense was $4.8 billion for the 2026 current year, a decrease of $0.2 billion, or 3.5%, compared to the same period in 2025.
The decline in interest expense reflected lower funding costs and changes in the Bank's funding mix. For context, interest income
decreased by $0.2 billion, or 3.1%, during the same period, as lower market interest rates reduced asset yields.
Fixed-rate CO bonds funded 19.1% of average earning assets in the 2026 current year, compared to 34.3% in the prior-year period.
Floating-rate CO bonds funded 24.3% of average earning assets, compared to 20.8% during the same period in 2025. The reduction in
78
the proportion of earning assets funded through CO bonds versus discount notes reflects changes in the Bank's funding composition
during the period.
Analysis of Non-Interest Income (Loss) —  2026 Third quarter Compared to 2025 Third quarter
The principal components of Non-interest income (loss) are summarized below (in thousands):
Table 9.9        Other Income (Loss)
Three months ended September 30,
Nine months ended September 30,
2026
2025
2026
2025
Other income (loss)
Service fees and other (a)
$6,457
$5,325
$19,215
$16,345
Instruments held under the fair value option gains (losses)
(4,361)
(12,592)
(7,026)
(40,753)
Derivative gains (losses)
60,293
10,380
149,457
(27,605)
Securities gains (losses)
(32,170)
23,561
(91,871)
113,252
Equity investments gains (losses)
(2,830)
5,267
3,954
10,784
Litigation settlement
—
7
751
7
Gains (losses) from extinguishment of debt
—
—
(1)
—
Total other income (loss)
$27,389
$31,948
$74,479
$72,030
(a)Service fees and other, net — Service fees are from providing correspondent banking services to members, primarily fees earned
on standby financial letters of credit. Letters of credit are generally issued on behalf of members to units of state and local
governments to collateralize their deposits at member banks. Fee income earned on financial letters of credit were $5.6 million in
the third quarter of the current year, compared to $4.5 million in the same period in the prior year. On a year-to-date basis
through September 30, 2026, Service fees earned on financial letters of credit were $16.8 million in the current year, compared to
$13.8 million in the same period in the prior year. Immaterial amounts of fees paid, and other expenses were included in reported
revenues.
The following table summarizes unrealized and realized gains (losses) in the trading portfolio (in thousands):
Table 9.10        Net Gains (Losses) on Trading Securities Recorded in the Statements of Income
Three months ended
September 30,
Nine months ended
September 30,
2026
2025
2026
2025
Net unrealized gains (losses) on trading securities held at period-end
$(32,396)
$23,643
$(91,607)
$116,141
Net gains (losses) on trading securities sold/matured during the period
226
(735)
(264)
(3,542)
Net gains (losses) on trading securities
$(32,170)
$22,908
$(91,871)
$112,599
We have invested in short- and medium-term fixed-rate U.S. Treasury securities. FHFA regulations prohibit trading in or the
speculative use of financial instruments. The securities are held to satisfy liquidity requirements. Fluctuations in valuations are a factor
of market demand and market yields of fixed-rate U.S. Treasury securities. Securities classified as trading are carried at fair values.
Changes in unrealized fair values and realized gains (losses) are recorded in the Statements of Income as Other income. Par amounts
of securities outstanding was $9.7 billion at September 30, 2026 and $7.6 billion at December 31, 2025.
Other income (loss) — Derivatives and Hedging Activities — 2026 Third quarter Compared to 2025 Third quarter
For derivatives that are not designated in qualifying hedge relationship (i.e., in an economic hedge), the derivatives are considered as a
“standalone” instrument and fair value changes are recorded in Other income (loss), without the offset of valuation of a hedged item.
Gains and losses recorded in Other income (loss) on standalone derivatives include net interest accruals.
79
The following table presents fair value changes of derivatives in economic hedges (i.e. not in an ASC 815 qualifying hedge) in Other
income (loss):
Table 9.11        Other Income (Loss) — Impact of Derivative Gains and Losses (in thousands)
Impact on Other Income (Loss)
Three months ended
September 30,
Nine months ended
September 30,
2026
2025
2026
2025
Derivatives not designated as hedging instruments
Interest rate swaps (a)
$43,370
$(18,884)
$100,449
$(114,100)
Caps or floors
2,615
1,108
3,154
974
Mortgage delivery commitments
(3,824)
466
(4,001)
762
Swaps economically hedging instruments designated under FVO (b)
3,150
12,356
7,288
40,845
Accrued interest on derivatives in economic hedging relationships (c)
16,385
16,303
46,354
46,906
Net gains (losses) related to derivatives not designated as hedging
instruments
61,696
11,349
153,244
(24,613)
Price alignment amount (d)
(1,403)
(969)
(3,787)
(2,992)
Net gains (losses) on derivatives and hedging activities
$60,293
$10,380
$149,457
$(27,605)
(a)Represents fair value changes recorded in Other income, primarily interest rate swaps in economic hedges of U.S. Treasury fixed-
rate securities recorded fair value gains of $35.5 million in the third quarter of 2026, compared to fair value losses of $19.1
million in the third quarter of 2025. In the year-to-date period in the current year, fair value gains of $94.7 million were recorded
compared to fair value losses of $114.4 million in the prior year period. The swaps are structured to mitigate the volatility of
price changes of the liquidity portfolio of fixed-rate U.S. Treasury notes.
(b)Represents fair value changes recorded in Other income on interest rate swaps hedging CO debt elected under the FVO.
(c)Represents impact to Other income due to net interest settlements on standalone swap contracts. Net interest settlements are the
interest accruals on swaps primarily in economic hedges of U.S. Treasury securities, debt and advances, and economic hedges of
instruments elected under the FVO.
(d)Relates to derivatives for which variation margin payments are characterized as daily settled contracts.
Derivative gains and losses in the table above include both realized and unrealized fair value net gains and losses. It also includes
swap interest settlements on derivatives designated as standalone hedging instruments.
80
Operating Expenses, Compensation and Benefits, and Other Expenses — 2026 Period Compared to 2025 Period
The following table sets forth the major categories of operating expenses (dollars in thousands):
Table 9.12        Operating Expenses, and Compensation and Benefits
Three months ended September 30,
2026
Percentage 
of Total
2025
Percentage 
of Total
Operating Expenses (a)
Compensation & Benefits
$29,102
44.02
%
$29,404
44.08
%
Occupancy
3,067
4.64
2,960
4.44
Depreciation
4,643
7.02
4,249
6.37
Contractual and Computer Service Agreements
11,412
17.26
12,446
18.66
Other Operating Expenses (b)
2,746
4.16
3,250
4.87
Total Operating Expenses
50,970
77.10
52,309
78.42
Voluntary Contributions
7,684
11.62
6,306
9.46
Finance Agency and Office of Finance (c)
5,236
7.92
6,083
9.12
Other Expenses (d)
2,221
3.36
2,003
3.00
Total Operating Expenses and Others
$66,111
100.00
%
$66,701
100.00
%
Nine months ended September 30,
2026
Percentage
 of Total
2025
Percentage 
of Total
Operating Expenses (a)
Compensation & Benefits
$91,779
45.48
%
$89,872
46.54
%
Occupancy
9,332
4.62
9,195
4.76
Depreciation
14,198
7.04
12,322
6.38
Contractual and Computer Service Agreement
37,170
18.42
35,549
18.41
Other Operating Expenses (b)
8,897
4.41
8,973
4.64
Total Operating Expenses
161,376
79.97
155,911
80.73
Voluntary Contributions
18,426
9.13
13,624
7.06
Finance Agency and Office of Finance (c)
15,477
7.66
17,515
9.07
Other Expenses (d)
6,534
3.24
6,073
3.14
Total Operating Expenses and Others
$201,813
100.00
%
$193,123
100.00
%
(a)Operating expenses included the administrative and overhead costs of operating the FHLBNY, as well as the operating costs of
providing advances and managing collateral associated with the advances, managing the investment portfolios, and providing
correspondent banking services to members.
(b)The category “Other Operating Expenses” included temporary workers, contractual services, professional and legal fees, audit
fees, director fees and expenses, insurance, and telecommunications.
(c)We are assessed for our share of the operating expenses for the Finance Agency and the Office of Finance. The FHLBanks and
two other GSEs share the entire cost of the Finance Agency. Expenses are allocated by the Finance Agency and the Office of
Finance.
(d)The category “Other Expense” included non-service elements of net periodic pension benefit costs, MPF transaction fees and
derivative clearing fees.
Legislative and Regulatory Developments
The Bank is subject to various legal and regulatory requirements and priorities. Certain actions, regulatory priorities, and areas of
focus of the current administration have changed and continue to change the regulatory environment. These changes have affected,
81
and likely will continue to affect, certain aspects of the Bank’s business operations, and could affect the financial condition, results of
operations, and reputation of the Bank. Additionally, the Bank is subject to extensive regulation and supervision, including ongoing
monitoring and targeted examinations by our regulator, which could affect our business operations and financial results.
Considering the changes in the regulatory environment, there is uncertainty with respect to the ultimate result of future regulatory
actions and their ultimate impact on the housing market, the Bank and the FHLBank System. The Bank continues to monitor these
actions as they evolve and to evaluate their potential impact on the Bank. For a discussion of related risks, please refer to Item 1A Risk
Factors in the Bank’s 2025 Form 10-K. (See also Management’s Discussion and Analysis of Financial Condition and Results of
Operations - Legislative and Regulatory Developments in the Bank's 2025 Form 10-K and in the Bank’s quarterly reports on Form 10-
Q filed with the SEC for the periods ended March 30, 2026 and June 30, 2026 for a description of certain legislative and regulatory
developments that occurred prior to the publication of those reports that have affected or may affect certain aspects of the Bank's
business operations, and could affect the financial condition, results of operations, and reputation of the Bank.)
Item 3.    Quantitative and Qualitative Disclosures about Market Risk
Market Risk Management. Market risk or interest rate risk (IRR) is the risk of change to market value or future earnings due to a
change in the interest rate environment. IRR arises from the Bank's operation due to maturity mismatches between interest rate
sensitive cash-flows of assets and liabilities. As the maturity mismatch increases so does the level of IRR. The Bank has opted to
retain a modest level of IRR which allows for the preservation of capital value while generating steady and predictable income.
Accordingly, the balance sheet consists of predominantly short-term instruments and assets and liabilities synthetically swapped to
floating-rate indices. A conservative and limited maturity gap profile of asset and liability positions protect our capital from changes in
value arising from a volatile interest rate environment.
The desired risk profile is primarily affected by the use of interest rate exchange agreements (Swaps) which the Bank uses to match
asset and liability index exposure. SOFR is the dominant index utilized by the Bank. Index matching allows for a relatively steady
income that changes in concert with prevailing interest rate changes to maintain a spread to short-term rates.
Although the Bank maintains a conservative IRR profile, income variability does arise from structural aspects in our portfolio
including embedded prepayment rights, basis risk on asset and liability positions, yield curve risk, liquidity risk and funding risk.
These varied risks are controlled by monitoring IRR measures including repricing gaps, duration of equity (DOE), value at risk (VaR),
net interest income (NII) at risk, key rate durations (KRD) and forecasted dividend rate sensitivities.
Risk Measurements. Our Risk Management Policy assigns comprehensive risk limits which we calculate on a regular basis. The
below limits were established in 2025 based on an anticipated market conditions and business strategy for 2026. The current risk limits
are as follows:
•The option-adjusted DOE is limited to a range of +4.0 years to -5.0 years in the rates unchanged case, and to a range of
+/-5.0 years in the +/-200bps shock cases.
•The one-year cumulative repricing gap is limited to 10 percent of total assets.
•The sensitivity of expected net interest income over a one-year period is limited to a -17.5 percent change under the +200bps
shock compared to the rates in the forward rate scenario. The sensitivity of expected net interest income over a one-year
period is limited to a -30 percent change under the -200bps shock compared to the rates in the forward rate scenario. This
metric measures the Bank’s sensitivity of earnings to changes in the level of rates along the yield curve and allowed for
negative rates.
•The potential decline in the market value of equity (MVE) is limited to a 10 percent change under the +/-200bps shocks.
•KRD exposure at any of six term points 3-year and under (1-month, 3-month, 6-month, 1-year, 2-year and 3-year) is limited
to between +/-20 months through the 3-year term point and a cumulative limit of +/-30 months from the 5-year through 30-
year term points specific to the investment portfolio. Both of these quarterly observations are well within their limits.
82
Our portfolio, including derivatives, is tracked and the overall mismatch net of derivatives between assets and liabilities is summarized
by using a DOE measure. Our last five quarterly DOE results are shown in years in the table below:
Base Case DOE
-200bps DOE
-100bps DOE
+200bps DOE
September 30, 2026
1.64
1.14
1.51
1.79
June 30, 2026
1.39
0.73
0.95
2.28
March 31, 2026
1.81
1.16
1.36
2.69
December 31, 2025
1.63
1.25
1.33
2.17
September 30, 2025
1.34
1.00
1.08
1.90
Duration indicates any cumulative repricing/maturity imbalance in the portfolio’s financial assets and liabilities. Duration of Equity
(DOE) is the Market Value of Equity’s (MVE) sensitivity to a change in the level of interest rates expressed in years. MVE is
calculated as market value of assets minus market value of liabilities. A positive DOE indicates a decrease to MVE if interest rates go
higher, a negative DOE indicates a decrease to MVE if interest rates go lower. We measure DOE using software that generates a full
revaluation incorporating optionality within our portfolio using well-known and tested financial pricing theoretical models. The DOE
calculation also incorporates non-interest-bearing financial assets and liabilities. We do not solely rely on the DOE measure as a
mismatch measure between assets and liabilities. We analyze open key rate duration exposure across maturity buckets while also
performing a more traditional gap measure that subtracts repricing/maturing liabilities from repricing/maturing assets over time. We
observe the differences over various horizons and have set a 10 percent limit on asset on cumulative repricing at the one-year point.
This quarterly observation of the one-year cumulative re-pricing gap is provided in the table below and all values are below 10 percent
of assets, well within the limit:
One Year Re-pricing Gap
September 30, 2026
$9.431 Billion
June 30, 2026
$9.278 Billion
March 31, 2026
$7.611 Billion
December 31, 2025
$6.740 Billion
September 30, 2025
$7.206 Billion
Our review of potential interest rate risk issues also includes the effect of changes in interest rates on expected net income. We project
asset and liability volumes and spreads over a one-year horizon and then simulate expected income and expenses from those volumes
and other inputs. The effects of changes in interest rates are generated to measure the Bank’s net interest income sensitivity over the
coming 12-month period. To measure the effect, a parallel shift of +200bps is calculated and compared against the forward rate
scenario and subjected to a -17.5 percent limit. The sensitivity of expected net interest income over a one-year period is limited to a
-30 percent change under the -200bps shock compared to the rates in the forward rate scenario. Period over period changes in our Net
Income sensitivity under -100bps and -200bps shocks reflect an increased proportion of short-dated fixed rate liabilities on the balance
sheet. Note that our MVE metrics do not exhibit a similar change in directionality, given the short-dated nature of these instruments.
Sensitivity in the
-200bps Shock
Sensitivity in the
-100bps Shock
Sensitivity in the
+200bps Shock
September 30, 2026
6.13
%
3.69
%
(3.75)
%
June 30, 2026
(3.52)
%
(1.27)
%
(0.47)
%
March 31, 2026
5.57
%
2.88
%
(9.39)
%
December 31, 2025
5.53
%
2.82
%
(7.82)
%
September 30, 2025
5.15
%
2.73
%
(6.96)
%
Aside from net interest income, the other significant impact on changes in the interest rate environment is the potential impact on the
value of the portfolio. These calculated and quoted market values are estimated based upon their financial attributes (including
optionality) and then re-estimated under the assumption that interest rates suddenly rise or fall by 200bps. The worst effect, whether it
is the up or the down shock, is compared to the internal limit of 10 percent. The quarterly potential maximum decline in the MVE
under these 200bps shocks is provided below:
83
-200bps Change in
MVE
-100bps Change in
MVE
+200bps Change in
MVE
September 30, 2026
3.06
%
1.67
%
(3.32)
%
June 30, 2026
2.01
%
1.18
%
(3.65)
%
March 31, 2026
2.89
%
1.62
%
(4.43)
%
December 31, 2025
2.79
%
1.51
%
(3.73)
%
September 30, 2025
2.28
%
1.24
%
(3.10)
%
As noted, the potential declines under these shocks are within our limits of a maximum 10 percent.
The following tables display the portfolio’s maturity/repricing gaps (in millions):
September 30, 2026
Six Months
or Less
More Than
Six Months to
One Year
More Than
One Year to
Three Years
More Than
Three Years to
Five Years
More Than
Five Years
Interest-earning assets:
Non-MBS investments
$32,423
$353
$1,277
$697
$1,983
Swaps hedging Non-MBS Investments
900
—
(900)
—
—
MBS investments
7,985
472
4,501
2,819
7,866
Swaps hedging MBS
9,450
—
(917)
(2,699)
(5,834)
Adjustable-rate loans and advances
52,190
—
—
—
—
Net investments, adjustable rate loans and advances
102,948
825
3,961
817
4,015
Liquidity trading portfolio
1,635
2,358
4,767
—
—
Swaps hedging investments
7,104
(2,348)
(4,756)
—
—
Net liquidity trading portfolio
8,739
10
11
—
—
Fixed-rate loans and advances
38,125
7,465
13,552
8,515
621
Swaps hedging fixed-rate advances
29,702
(7,083)
(13,528)
(8,471)
(620)
Net fixed-rate loans and advances
67,827
382
24
44
1
Total interest-earning assets
$179,514
$1,217
$3,996
$861
$4,016
Interest-bearing liabilities:
Deposits
$1,945
$—
$—
$—
$—
Discount notes
67,351
3,945
—
—
—
Swaps hedging discount notes
3,136
(3,772)
469
92
75
Net discount notes
70,487
173
469
92
75
Consolidated obligation Bonds
FHLBank bonds
83,967
3,891
9,797
4,723
2,908
Swaps hedging bonds
14,213
(3,376)
(5,899)
(3,658)
(1,280)
Net FHLBank bonds
98,180
515
3,898
1,065
1,628
Total interest-bearing liabilities
$170,612
$688
$4,367
$1,157
$1,703
Post-hedge gaps (a):
Periodic gap
$8,902
$529
$(371)
$(296)
$2,313
Cumulative gap
$8,902
$9,431
$9,060
$8,764
$11,077
84
December 31, 2025
Six Months
or Less
More Than
Six Months to
One Year
More Than
One Year to
Three Years
More Than
Three Years to
Five Years
More Than
Five Years
Interest-earning assets:
Non-MBS investments
$32,418
$138
$1,550
$547
$1,746
Swaps hedging Non-MBS Investments
900
—
(900)
—
—
MBS investments
5,328
1,233
3,684
3,024
7,589
Swaps hedging MBS
7,945
—
(610)
(1,234)
(6,101)
Adjustable-rate loans and advances
32,701
1
—
—
—
Net investments, adjustable rate loans and advances
79,292
1,372
3,724
2,337
3,234
Liquidity trading portfolio
1,188
1,119
4,051
243
—
Swaps hedging investments
5,434
(1,130)
(4,054)
(250)
—
Net liquidity trading portfolio
6,622
(11)
(3)
(7)
—
Fixed-rate loans and advances
27,297
9,537
15,795
6,445
689
Swaps hedging fixed-rate advances
32,100
(9,563)
(15,467)
(6,383)
(687)
Net fixed-rate loans and advances
59,397
(26)
328
62
2
Total interest-earning assets
$145,311
$1,335
$4,049
$2,392
$3,236
Interest-bearing liabilities:
Deposits
$3,072
$—
$—
$—
$—
Discount notes
72,919
3,108
—
—
—
Swaps hedging discount notes
1,824
(2,792)
801
70
97
Net discount notes
74,743
316
801
70
97
Consolidated obligation Bonds
FHLBank bonds
44,767
6,571
11,524
2,737
2,933
Swaps hedging bonds
15,920
(5,483)
(7,720)
(1,055)
(1,662)
Net FHLBank bonds
60,687
1,088
3,804
1,682
1,271
Total interest-bearing liabilities
$138,502
$1,404
$4,605
$1,752
$1,368
Post-hedge gaps (a):
Periodic gap
$6,809
$(69)
$(556)
$640
$1,868
Cumulative gap
$6,809
$6,740
$6,184
$6,824
$8,692
(a)Repricing gaps are estimated at the scheduled rate reset dates for floating rate instruments, and at maturity for fixed rate
instruments. For callable instruments, the repricing period is estimated by the earlier of the estimated call date under the current
interest rate environment or the instrument’s contractual maturity.
85
Item 4.    Controls and Procedures
Disclosure Controls and Procedures
An evaluation of the Bank’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities
Exchange Act of 1934, as amended (the “Act”)) was carried out under the supervision and with the participation of the Bank’s Interim
President and Chief Executive Officer, Jonathan R. West, and Senior Vice President and Chief Financial Officer, Brinda
Bhattacharjee, as of September 30, 2026. Based on this evaluation, they concluded that as of September 30, 2026, the Bank’s
disclosure controls and procedures were effective, at a reasonable level of assurance, in ensuring that the information required to be
disclosed by the Bank in the reports it files or submits under the Act is (i) accumulated and communicated to the Bank’s management
(including the President and Chief Executive Officer and Chief Financial Officer) in a timely manner, and (ii) recorded, processed,
summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms.
Changes in Internal Control Over Financial Reporting
There were no changes in the Bank’s internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the
Act) during the Bank’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Bank’s internal
control over financial reporting.
86
PART II
Item 1.    Legal Proceedings
The Bank is not aware of any legal proceedings that are expected to have a material effect on its financial condition or results of
operations or that are otherwise material to the Bank.
Item 1A.    Risk Factors
There have been no material changes from the risk factors previously disclosed in Part I, Item 1A of the FHLBNY’s Annual Report on
Form 10-K for the fiscal year ended December 31, 2025, and such risk factors are incorporated by reference herein.
Item 2.    Unregistered Sales of Equity Securities and Use of Proceeds
Not applicable.
Item 3.    Defaults Upon Senior Securities
None.
Item 4.    Mine Safety Disclosures
Not applicable.
Item 5.    Other Information
None.
87
Item 6.    Exhibits
No. 
 
 
 
Exhibit Description
  
 
Filed with
this Form 
10-Q
  
 
Form*
  
 
Date Filed
3.01
8-K
12/1/2005
3.02
8-K
8/18/2023
4.01
8-K
3/6/2025
31.01
X
31.02
X
32.01
X
32.02
X
101.INS
Inline XBRL Instance Document – The instance document does not appear in
the interactive data file because its XBRL tags are embedded within the
inline XBRL document.
X
101.SCH
Inline XBRL Taxonomy Extension Schema Document
X
101.CAL
Inline XBRL Taxonomy Extension Calculation Linkbase Document
X
101.DEF
Inline XBRL Taxonomy Extension Definition Linkbase Document
X
101.LAB
Inline XBRL Taxonomy Extension Label Linkbase Document
X
101.PRE
Inline XBRL Taxonomy Extension Presentation Linkbase Document
X
104
Cover Page Interactive Data File (formatted as Inline XBRL and contained in
Exhibit 101)
X
Notes:
*Means that this exhibit is incorporated by reference from the named Form; the filing date of such named Form is listed in the next
column.
(a)This exhibit includes a management contract, compensatory plan or arrangement required to be noted herein.
88
SIGNATURES
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
(Registrant)
 
/s/ Brinda Bhattacharjee
 
Brinda Bhattacharjee
 
Senior Vice President and Chief Financial Officer
 
Federal Home Loan Bank of New York (on behalf of the
Registrant and as the Principal Financial Officer)
Date: November 5, 2026
ATTACHMENTS / EXHIBITS

ATTACHMENTS / EXHIBITS

EX-31.01

EX-31.02

EX-32.01

EX-32.02

XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT

XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT

XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT

XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT

XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT

IDEA: R1.htm

IDEA: R2.htm

IDEA: R3.htm

IDEA: R4.htm

IDEA: R5.htm

IDEA: R6.htm

IDEA: R7.htm

IDEA: R8.htm

IDEA: R9.htm

IDEA: R10.htm

IDEA: R11.htm

IDEA: R12.htm

IDEA: R13.htm

IDEA: R14.htm

IDEA: R15.htm

IDEA: R16.htm

IDEA: R17.htm

IDEA: R18.htm

IDEA: R19.htm

IDEA: R20.htm

IDEA: R21.htm

IDEA: R22.htm

IDEA: R23.htm

IDEA: R24.htm

IDEA: R25.htm

IDEA: R26.htm

IDEA: R27.htm

IDEA: R28.htm

IDEA: R29.htm

IDEA: R30.htm

IDEA: R31.htm

IDEA: R32.htm

IDEA: R33.htm

IDEA: R34.htm

IDEA: R35.htm

IDEA: R36.htm

IDEA: R37.htm

IDEA: R38.htm

IDEA: R39.htm

IDEA: R40.htm

IDEA: R41.htm

IDEA: R42.htm

IDEA: R43.htm

IDEA: R44.htm

IDEA: R45.htm

IDEA: R46.htm

IDEA: R47.htm

IDEA: R48.htm

IDEA: R49.htm

IDEA: R50.htm

IDEA: R51.htm

IDEA: R52.htm

IDEA: R53.htm

IDEA: R54.htm

IDEA: R55.htm

IDEA: R56.htm

IDEA: R57.htm

IDEA: R58.htm

IDEA: R59.htm

IDEA: R60.htm

IDEA: R61.htm

IDEA: R62.htm

IDEA: R63.htm

IDEA: R64.htm

IDEA: R65.htm

IDEA: R66.htm

IDEA: R67.htm

IDEA: R68.htm

IDEA: R69.htm

IDEA: R70.htm

IDEA: R71.htm

IDEA: R72.htm

IDEA: R73.htm

IDEA: R74.htm

IDEA: R75.htm

IDEA: R76.htm

IDEA: R77.htm

IDEA: R78.htm

IDEA: R79.htm

IDEA: R80.htm

IDEA: R81.htm

IDEA: R82.htm

IDEA: R83.htm

IDEA: R84.htm

IDEA: R85.htm

IDEA: R86.htm

IDEA: R87.htm

IDEA: R88.htm

IDEA: R89.htm

IDEA: R90.htm

IDEA: R91.htm

IDEA: R92.htm

IDEA: R93.htm

IDEA: R94.htm

IDEA: R95.htm

IDEA: R96.htm

IDEA: R97.htm

IDEA: R98.htm

IDEA: R99.htm

IDEA: R100.htm

IDEA: R101.htm

IDEA: R102.htm

IDEA: R103.htm

IDEA: R104.htm

IDEA: R105.htm

IDEA: R106.htm

IDEA: R107.htm

IDEA: FilingSummary.xml

IDEA: MetaLinks.json

IDEA: fhlbny-20260930_htm.xml