Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - Federal Home Loan Bank of New York | c99859e8vk.htm |
| EX-99.1 - EXHIBIT 99.1 - Federal Home Loan Bank of New York | c99859exv99w1.htm |
Exhibit 99.2
STATEMENTS OF CONDITION — Unaudited
| (in thousands) | March 31, 2010 | December 31, 2009 | March 31, 2009 | |||||||||
ASSETS |
||||||||||||
Cash and due from banks |
$ | 1,167,824 | $ | 2,189,252 | $ | 32,136 | ||||||
Interest-bearing deposits |
— | — | 8,602,233 | |||||||||
Federal funds sold |
3,130,000 | 3,450,000 | 500,000 | |||||||||
Available-for-sale securities net of unrealized losses |
2,654,814 | 2,253,153 | 2,641,996 | |||||||||
Held-to-maturities |
||||||||||||
Long-term securities |
9,776,282 | 10,519,282 | 9,935,079 | |||||||||
Certificates of deposit |
— | 300,000 | ||||||||||
Advances |
88,858,753 | 94,348,751 | 104,463,598 | |||||||||
Mortgage loans, net of allowance for credit losses |
1,287,770 | 1,317,547 | 1,430,899 | |||||||||
Loans to other FHLBanks |
— | — | — | |||||||||
Accrued interest receivable |
320,730 | 340,510 | 411,500 | |||||||||
Premises, software and equipment |
14,046 | 14,792 | 13,817 | |||||||||
Derivative assets |
9,246 | 8,280 | 11,463 | |||||||||
Other assets |
19,761 | 19,339 | 16,217 | |||||||||
TOTAL ASSETS |
$ | 107,239,226 | $ | 114,460,906 | $ | 128,358,938 | ||||||
LIABILITIES AND CAPITAL |
||||||||||||
Liabilities |
||||||||||||
Deposits |
||||||||||||
Interest-bearing demand |
$ | 7,942,668 | $ | 2,616,812 | $ | 2,306,887 | ||||||
Non-interest bearing demand |
6,254 | 6,499 | 7,528 | |||||||||
Term |
28,000 | 7,200 | 58,000 | |||||||||
Total deposits and borrowings |
7,976,922 | 2,630,511 | 2,372,415 | |||||||||
Consolidated obligations, net: |
||||||||||||
Bonds |
72,408,203 | 74,007,978 | 69,582,076 | |||||||||
Discount notes |
19,815,956 | 30,827,639 | 48,721,626 | |||||||||
Total consolidated obligations |
92,224,159 | 104,835,617 | 118,303,702 | |||||||||
Mandatorily redeemable capital stock |
105,192 | 126,294 | 139,961 | |||||||||
Accrued interest payable |
330,715 | 277,788 | 385,121 | |||||||||
Affordable Housing Program |
145,660 | 144,489 | 128,368 | |||||||||
Payable to REFCORP |
13,873 | 24,234 | 41,815 | |||||||||
Derivative liabilities |
850,911 | 746,176 | 1,031,771 | |||||||||
Other liabilities |
216,168 | 72,506 | 132,658 | |||||||||
Total liabilities |
101,863,600 | 108,857,615 | 122,535,811 | |||||||||
Capital |
||||||||||||
Capital Stock |
4,827,626 | 5,058,956 | 5,413,026 | |||||||||
Unrestricted retained earnings |
671,519 | 688,874 | 488,895 | |||||||||
Accumulated other comprehensive income/(loss): |
||||||||||||
Net unrealized gains (losses) on AFS Securities |
11,521 | (3,409 | ) | (33,994 | ) | |||||||
Non-credit portion of OTTI on held-to-maturity
securities, net of accretion |
(106,612 | ) | (110,570 | ) | (9,938 | ) | ||||||
Net unrealized gains (losses) on hedging activities |
(20,551 | ) | (22,683 | ) | (28,312 | ) | ||||||
Employee supplemental retirement plans |
(7,877 | ) | (7,877 | ) | (6,550 | ) | ||||||
Total capital |
5,375,626 | 5,603,291 | 5,823,127 | |||||||||
TOTAL LIABILITIES AND CAPITAL |
$ | 107,239,226 | $ | 114,460,906 | $ | 128,358,938 | ||||||
Statements of Income — Unaudited
| Three Months Ended | ||||||||
| March 31 | ||||||||
| (In thousands) | 2010 | 2009 | ||||||
INTEREST INCOME |
||||||||
Advances |
$ | 149,640 | $ | 502,222 | ||||
Interest-bearing deposits |
830 | 8,918 | ||||||
Federal funds sold |
1,543 | 68 | ||||||
Available-for-sale securities |
5,764 | 8,519 | ||||||
Held-to-maturity securities |
||||||||
Long-term securities |
98,634 | 126,820 | ||||||
Certificates of Deposit |
— | 508 | ||||||
Mortgage loans held for portfolio |
16,741 | 19,104 | ||||||
Loans to other FHLBanks and other |
— | — | ||||||
Total interest income |
273,152 | 666,159 | ||||||
INTEREST EXPENSE |
||||||||
Consolidated obligations |
164,812 | 433,085 | ||||||
Deposits |
892 | 777 | ||||||
Mandatorily redeemable capital stock |
1,495 | 878 | ||||||
Cash collateral held and other borrowings |
— | 37 | ||||||
Total interest expense |
167,199 | 434,777 | ||||||
NET INTEREST INCOME |
105,953 | 231,382 | ||||||
Provision for credit losses on mortgage loans |
709 | 443 | ||||||
NET INTEREST INCOME AFTER PROVISION FOR
CREDIT LOSSES |
105,244 | 230,939 | ||||||
OTHER INCOME |
||||||||
Service fees |
1,045 | 985 | ||||||
Instruments held at fair value — unrealized gain(loss) |
(8,419 | ) | 8,313 | |||||
Total OTTI losses |
(3,873 | ) | (15,203 | ) | ||||
Portion of loss recognized in other comprehensive income |
473 | 9,938 | ||||||
Net impairment losses recognized in earnings |
(3,400 | ) | (5,265 | ) | ||||
Net gain (loss) on derivatives and hedging activities |
(363 | ) | (13,666 | ) | ||||
Net realized gain from sale of securities |
708 | 440 | ||||||
Loss on extinguishment of debt and other |
15 | 46 | ||||||
Total other income |
(10,414 | ) | (9,147 | ) | ||||
OTHER EXPENSES |
||||||||
Operating |
19,236 | 18,094 | ||||||
Finance Board and Office of Finance |
2,418 | 1,967 | ||||||
Other |
— | — | ||||||
Total other expenses |
21,654 | 20,061 | ||||||
INCOME BEFORE ASSESSMENTS |
73,176 | 201,731 | ||||||
Affordable Housing Program |
6,126 | 16,557 | ||||||
REFCORP |
13,410 | 37,035 | ||||||
Total assessments |
19,536 | 53,592 | ||||||
NET INCOME |
$ | 53,640 | $ | 148,139 | ||||