Financial, market and economic news

Federal Home Loan Bank of New York Declares A 5.10% Dividend For The Third Quarter Of 2020

NEW YORK, Nov. 19, 2020 /PRNewswire/ — The Federal Home Loan Bank of New York (“FHLBNY”) is pleased to announce that, on November 19, 2020, its 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 to member financial institutions 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,” said José R. González, president and CEO of the FHLBNY.  “At the Federal Home Loan Bank of New York, 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, …

Full story available on Benzinga.com

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