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| 8-K - FEDERAL HOME LOAN BANK OF NEW YORK - Federal Home Loan Bank of New York | form_8-k.htm |
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Report From The President
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DATE:
November 19, 2020
FEDERAL HOME LOAN BANK OF NEW YORK
DECLARES A 5.10% DIVIDEND FOR THE THIRD QUARTER OF
2020
I am
pleased to announce that, on November 19, 2020, our Board of
Directors approved a dividend for the third quarter of 2020 of
5.10% (annualized). The dollar amount of the dividend will be
approximately $79.3 million. The cash dividend will be distributed
on November 20, 2020.
While
our third quarter performance was strong, the ongoing pandemic
continues to create substantial uncertainty about future economic
activity, the global and national economies and our operating
environment. At the FHLBNY, we have kept our focus on our mission,
and we are proud to remain a stable and reliable partner for our
members as we work together to support the communities we all
serve.
The
health and economic crises resulting from COVID-19 are
unpredictable and may affect the environment in which the FHLBNY
operates. The low interest rate environment, as well as changes to
market and business conditions, may negatively impact the
FHLBNY’s financial performance and level of dividends. The
FHLBNY will continue to assess the potential effects of changes in
the environment on its financial performance and dividend
strategy.
We
filed our Form 10-Q for the third quarter of 2020 with the U.S.
Securities and Exchange Commission on November 12,
2020.
Sincerely,
José
R. González
President
and CEO
# #
#
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995
This
report may contain forward-looking statements within the meaning of
the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. These statements are based upon our current
expectations and speak only as of the date hereof. These statements
may use forward-looking terms, such as "projected," "expects,"
"may," or their negatives or other variations on these terms. The
Bank cautions that, by their nature, forward-looking statements
involve risk or uncertainty and that actual results could differ
materially from those expressed or implied in these forward-looking
statements or could affect the extent to which a particular
objective, projection, estimate, or prediction is realized. These
forward-looking statements involve risks and uncertainties
including, but not limited to, the Risk Factors set forth in our
Annual Reports on Form 10-K and our Quarterly Reports on Form 10-Q
filed with the SEC, as well as regulatory and accounting rule
adjustments or requirements, changes in interest rates, changes in
projected business volumes, changes in prepayment speeds on
mortgage assets, the cost of our funding, changes in our membership
profile, the withdrawal of one or more large members, competitive
pressures, shifts in demand for our products, and general economic
conditions. Forward-looking statements speak only as of the date
they are made, and we undertake no obligation to revise or update
publicly any forward-looking statements for any
reason.
FEDERAL
HOME LOAN BANK OF NEW YORK ● 101 PARK AVENUE ● NEW YORK, NY 10178 ● T: 212.681.6000 ● WWW.FHLBNY.COM