Attached files
| file | filename |
|---|---|
| EX-99.1 - EXHIBIT 99.1 - Federal Home Loan Bank of New York | c96756exv99w1.htm |
| 8-K - FORM 8-K - Federal Home Loan Bank of New York | c96756e8vk.htm |
Exhibit 99.2
Federal Home Loan Bank of New York
Statements of Condition (in thousands, except par value data)
As of December 31,
Statements of Condition (in thousands, except par value data)
As of December 31,
| Unaudited | ||||||||
| 2009 | 2008 | |||||||
Assets |
||||||||
Cash and due from banks |
$ | 2,189,252 | $ | 18,899 | ||||
Interest-bearing deposits |
0 | 12,169,096 | ||||||
Federal funds sold |
3,450,000 | — | ||||||
Available-for-sale securities, net of unrealized losses
of $3,409 and $64,420 at December 31, 2009 and 2008 |
2,253,153 | 2,861,869 | ||||||
Held-to-maturity securities |
||||||||
Long-term securities |
10,519,282 | 10,130,543 | ||||||
Certificates of deposit |
1,203,000 | |||||||
Advances |
94,348,751 | 109,152,876 | ||||||
Mortgage loans held-for-portfolio, net of allowance for credit losses
of $4,498 and $1,406 at December 31, 2009 and 2008 |
1,317,547 | 1,457,885 | ||||||
Accrued interest receivable |
340,510 | 492,856 | ||||||
Premises, software, and equipment |
14,792 | 13,793 | ||||||
Derivative assets |
8,280 | 20,236 | ||||||
Other assets |
19,339 | 18,838 | ||||||
Total assets |
$ | 114,460,906 | $ | 137,539,891 | ||||
Liabilities and capital |
||||||||
Liabilities |
||||||||
Deposits |
||||||||
Interest-bearing demand |
$ | 2,616,812 | $ | 1,333,750 | ||||
Non-interest bearing demand |
6,499 | 828 | ||||||
Term |
7,200 | 117,400 | ||||||
Total deposits |
2,630,511 | 1,451,978 | ||||||
Consolidated obligations, net |
||||||||
Bonds (Includes $6,035,741 and $998,942 at December 31, 2009 and 2008
at fair value under the fair value option) |
74,007,978 | 82,256,705 | ||||||
Discount notes |
30,827,639 | 46,329,906 | ||||||
Total consolidated obligations |
104,835,617 | 128,586,611 | ||||||
Mandatorily redeemable capital stock |
126,294 | 143,121 | ||||||
Accrued interest payable |
277,788 | 426,144 | ||||||
Affordable Housing Program |
144,489 | 122,449 | ||||||
Payable to REFCORP |
24,234 | 4,780 | ||||||
Derivative liabilities |
746,176 | 861,660 | ||||||
Other liabilities |
72,506 | 75,753 | ||||||
Total liabilities |
108,857,615 | 131,672,496 | ||||||
Commitments and Contingencies |
||||||||
Capital |
||||||||
Capital stock ($100 par value), putable, issued and outstanding shares: 50,590 and 55,857 at December 31, 2009 and 2008 |
5,058,956 | 5,585,700 | ||||||
Retained earnings |
688,874 | 382,856 | ||||||
Accumulated other comprehensive income (loss) |
||||||||
Net unrealized loss on available-for-sale securities |
(3,409 | ) | (64,420 | ) | ||||
Non-credit portion of OTTI on held-to-maturity securities |
(117,104 | ) | — | |||||
Accretion of non-credit portion of impairment losses on held-to-maturity securities |
6,534 | — | ||||||
Net unrealized loss on hedging activities |
(22,683 | ) | (30,191 | ) | ||||
Employee supplemental retirement plans |
(7,877 | ) | (6,550 | ) | ||||
Total capital |
5,603,291 | 5,867,395 | ||||||
Total liabilities and capital |
$ | 114,460,906 | $ | 137,539,891 | ||||
Federal Home Loan Bank of New York
Statements of Income (in thousands, except per share data)
Year Ended December 31,
Statements of Income (in thousands, except per share data)
Year Ended December 31,
| Unaudited | ||||||||
| 2009 | 2008 | |||||||
Interest income |
||||||||
Advances |
$ | 1,270,643 | $ | 3,030,799 | ||||
Interest-bearing deposits |
19,865 | 28,012 | ||||||
Federal funds sold |
3,238 | 77,976 | ||||||
Available-for-sale securities |
28,842 | 80,746 | ||||||
Held-to-maturity securities |
||||||||
Long-term securities |
461,491 | 531,151 | ||||||
Certificates of deposit |
1,626 | 232,300 | ||||||
Mortgage loans held-for-portfolio |
71,980 | 77,862 | ||||||
Loans to other FHLBanks and other |
2 | 33 | ||||||
Total interest income |
1,857,687 | 4,058,879 | ||||||
Interest expense |
||||||||
Consolidated obligations-bonds |
953,970 | 2,620,431 | ||||||
Consolidated obligations-discount notes |
193,041 | 697,729 | ||||||
Deposits |
2,512 | 36,193 | ||||||
Mandatorily redeemable capital stock |
7,507 | 8,984 | ||||||
Cash collateral held and other borrowings |
49 | 1,044 | ||||||
Total interest expense |
1,157,079 | 3,364,381 | ||||||
Net interest income before provision for credit losses |
700,608 | 694,498 | ||||||
Provision for credit losses on mortgage loans |
3,108 | 773 | ||||||
Net interest income after provision for credit losses |
697,500 | 693,725 | ||||||
Other income (loss) |
||||||||
Service fees |
4,165 | 3,357 | ||||||
Instruments held at fair value — Unrealized gain (loss) |
15,523 | (8,325 | ) | |||||
Total OTTI losses |
(140,912 | ) | — | |||||
Portion of loss recognized in other comprehensive income |
120,096 | — | ||||||
Net impairment losses recognized in earnings |
(20,816 | ) | (4,968 | ) | ||||
Net realized and unrealized gain (loss)
on derivatives and hedging activities |
164,700 | (199,259 | ) | |||||
Net realized gain from sale of available-for-sale and
redemption of held-to-maturity securities |
721 | 1,058 | ||||||
Provision for derivative counterparty credit losses |
— | (64,523 | ) | |||||
Other |
77 | 233 | ||||||
Total other income (loss) |
164,370 | (267,459 | ) | |||||
Other expenses |
||||||||
Operating |
76,065 | 66,263 | ||||||
Finance Agency and Office of Finance |
8,110 | 6,395 | ||||||
Total other expenses |
84,175 | 72,658 | ||||||
Income before assessments |
777,695 | 353,608 | ||||||
Affordable Housing Program |
64,251 | 29,783 | ||||||
REFCORP |
142,689 | 64,765 | ||||||
Total assessments |
206,940 | 94,548 | ||||||
Net income |
$ | 570,755 | $ | 259,060 | ||||
Basic earnings per share |
$ | 10.88 | $ | 5.26 | ||||
Cash dividends paid per share |
$ | 4.95 | $ | 6.55 | ||||