Alfred DelliBovi Named to Bipartisan Policy Center's Housing Commission

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Dec 14, 2011, 10:12 ET

-Commission will develop policy recommendations to address the nation's housing needs-

NEW YORK, Dec. 14, 2011 /PRNewswire-USNewswire/ -- Alfred DelliBovi, president and CEO of the Federal Home Loan Bank of New York ("FHLBNY") has been named to the Bipartisan Policy Center's ("BPC") Housing Commission. The Housing Commission, the membership of which includes national business and civic leaders, key housing experts, academics and senior political figures, has been created in an effort to improve U.S. housing policy.

"The Bipartisan Policy Center has assembled an outstanding Housing Commission to deal head-on with one of the main challenges facing our nation's economy, and we are proud that Al DelliBovi's outstanding credentials are being utilized to assist in the effort," said Michael Horn, chairman of the FHLBNY. "Al believes in the principle that a stable home is the foundation for what makes our country great, and I am confident that the Housing Commission is well-equipped to repair any cracks that have weakened that foundation."

"I am honored to join with so many leading housing experts and national leaders to work on developing policies that will reinvigorate, support and strengthen our nation's housing industry," said Mr. DelliBovi. "Housing is not only the cornerstone of our nation's economy, but vital to the stability of our communities and families, as well. We must create sensible and responsible policies that revitalize our country's housing sector."

Over the course of the next year, the Housing Commission will develop a package of realistic and actionable policy recommendations to address the nation's troubled housing sector. Among other issues, the Housing Commission will assess the appropriate role of the federal government in housing by reviewing the effectiveness of the full range of support the federal government currently provides to the housing sector. The Housing Commission will actively seek input from national policy shapers and industry practitioners, and from the public, by hosting regional forums across the country throughout 2012.

Mr. DelliBovi has served as president and chief executive officer of the Federal Home Loan Bank of New York since November 1992. In his current role, he leads a team of professionals at the $100 billion wholesale bank, which provides funding for housing and economic development to 330 neighborhood-based lenders in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. Previously, Mr. DelliBovi served as Deputy Secretary of the U.S. Department of Housing and Urban Development, from 1989 until 1992. He was a senior official at the U.S. Department of Transportation in the Reagan Administration and was appointed Administrator of the Urban Mass Transportation Administration from 1987 until 1989. Mr. DelliBovi, a native New Yorker, was elected to four terms in the New York State Assembly. He has earned national recognition as an authority on banking, the lending industry, housing, and public finance.

In October, former U.S. Secretaries of Housing and Urban Development Henry Cisneros and Mel Martinez, who is also a former U.S. Senator; former U.S. Senator Kit Bond; and former U.S. Senate Majority Leader and BPC founder George Mitchell were named to lead the Housing Commission. On December 13, Mr. DelliBovi and 16 other housing leaders were named to the Housing Commission. The full list of members can be found on the BPC's web site at www.bipartisanpolicy.org.

About the Bipartisan Policy Center:
Founded in 2007 by former Senate Majority Leaders Howard Baker, Tom Daschle, Bob Dole and George Mitchell, the Bipartisan Policy Center (BPC) is a non-profit organization that drives principled solutions through rigorous analysis, reasoned negotiation, and respectful dialogue. With projects in multiple issue areas, the BPC combines politically-balanced policymaking with strong, proactive advocacy and outreach. For more information, please visit our website: www.bipartisanpolicy.org.

Federal Home Loan Bank of New York
The Federal Home Loan Bank of New York is a Congressionally chartered, wholesale Bank. It is part of the Federal Home Loan Bank System, a national wholesale banking network of 12 regional, stockholder-owned banks. The FHLB of New York currently serves over 330 financial institutions in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. The mission of the Federal Home Loan Banks is to support the efforts of local members to help provide financing for America's homebuyers.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
This report contains 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, 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. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.

SOURCE Federal Home Loan Bank of New York