Trading Securities (Tables)

9 Months Ended

Sep. 30, 2026

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):

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):

(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.

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	%

The amortized cost and estimated fair value (a) of investments classified as AFS, by contractual

maturity, were as follows (in thousands):


	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.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.