Ángela Weyne to Serve as Independent Director of the Federal Home Loan Bank of New York

NEW YORK, Sept. 21, 2017 /PRNewswire/ -- The Federal Home Loan Bank of New York ("FHLBNY") is pleased to announce that its Board of Directors has selected Ángela Weyne, former Commissioner of Insurance for the Commonwealth of Puerto Rico, to serve as an Independent Director for a term that will expire on December 31, 2019.  Ms. Weyne fills the Independent Director seat left vacant by the passing of Caren Franzini earlier this year.

"Ms. Weyne will make an outstanding addition to our Board, and her vast knowledge of the insurance industry will be of particular benefit to the FHLBNY and our cooperative," said Michael M. Horn, Chairman of the FHLBNY. "We lost a tremendous colleague and wonderful friend when Caren Franzini passed away, and we still feel her absence at our Board table.  But we know that the contributions Ms. Weyne will make in her new role will keep our cooperative strong and focused on supporting the communities we serve."

Prior to joining the FHLBNY's Board, Ms. Weyne served a four-year term as Commissioner of Insurance for the Commonwealth of Puerto Rico, from 2013 through 2016.  Over a career spanning more than 40 years, she has held senior operating roles in, as well as served as a consultant to, the insurance industry.

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 11 regional, stockholder-owned banks.  As of June 30, 2017, the FHLB of New York serves 322 financial institutions in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands.  The Federal Home Loan Banks 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 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, 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.

CONTACT: Brian Finnegan 
(212) 441-6877 
Eric Amig                   
(212) 441-6807 

SOURCE Federal Home Loan Bank of New York

Related Links

http://www.fhlbny.com