Federal Home Loan Bank Of New York Declares A 4.60% Dividend For The Fourth Quarter Of 2014
NEW YORK, Feb. 19, 2015 /PRNewswire/ -- The Federal Home Loan Bank of New York ("FHLBNY") is pleased to announce that, on February 19, 2015, its Board of Directors ("Board") approved a dividend for the fourth quarter of 2014 of 4.60% (annualized). The dollar amount of the dividend will be approximately $64.5 million. The cash dividend will be distributed to member financial institutions on February 20, 2015.
"The Federal Home Loan Bank of New York is a reliable partner for our members," said José R. González, president and CEO of the FHLBNY. "We prove this reliability in the diverse credit products we offer to help our members meet the ever-changing needs of their customers, by providing our members with daily access to funding, and in paying a consistent and reasonable quarterly dividend."
The dividend reflects the FHLBNY's low-risk profile and conservative business strategy, and is also reflective of the continuation of a low interest rate environment. After payment of the fourth quarter of 2014 dividend, the FHLBNY's level of unrestricted retained earnings will be approximately $798.2 million as of December 31, 2014. The FHLBNY's level of restricted retained earnings as of the same date was $220.1 million. The FHLBNY will continue to maintain total retained earnings at levels calibrated to help ensure future regulatory compliance and provide additional protection for the capital investment of its stockholders.
The FHLBNY will publish its 2014 audited financial results in its Form 10-K filing with the U.S. Securities and Exchange Commission, which is expected to be filed by March 23, 2015.
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 more than 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
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:
Eric Amig
(212) 441-6807
Brian Finnegan
(212) 441-6877
SOURCE Federal Home Loan Bank of New York
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article