FHLBNY definition

FHLBNY means the Federal Home Loan Bank of New York, or any successor thereto.
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Examples of FHLBNY in a sentence

  • NBT Bank is a member in good standing of the FHLBNY and, as of June 30, 2024, owns the requisite amount of stock of the FHLBNY as set forth on NBT Disclosure Schedule 4.03.

  • NBT Bank is a member in good standing of the FHLBNY and, as of September 30, 2022, owns the requisite amount of stock of the FHLBNY as set forth on NBT Disclosure Schedule 4.03.

  • The Member and the Sponsor each further agree to perform such other monitoring as may be required by the FHLB-NY’s AHP Policies and Practices, or as may otherwise be required by the FHLB-NY in its sole discretion.

  • The FHLBNY Member Financial Institution may request disbursement of all or part of the Subsidy from the FHLBNY when the Project is ready to receive all or part of the Subsidy, as the case may be.

  • If the funds cannot be delivered to the Project within this time, the FHLBNY Member Financial Institution must return any unused AHP Subsidy to the FHLBNY.

  • In turn, the FHLBNY Member Financial Institution must coordinate this documentation and provide the FHLBNY with a semi- annual report (or as otherwise directed by the FHLBNY) which certifies the status of the development of the Project.

  • FHLBNY, in its sole discretion, may de-obligate, recapture, or cancel funds associated with the Project for any event of noncompliance, including but not limited to, regulatory requirements, FHLBNY’s AHP Policies and Practices, progress reporting milestones, and monitoring requirements.

  • If the Finance Agency makes such a determination, the FHLB-NY will notify the Member and the Sponsor in writing of the Finance Agency’s determination and may require remedial action by the Member or the Sponsor, or both, in accordance with the terms of the AHP Regulation and this Agreement.

  • In the case of a foreclosure, the Sponsor’s obligation to repay the direct Subsidy to the FHLBNY Member Financial Institution shall terminate upon final settlement or disposition.

  • The FHFA prohibits the FHLBNY from engaging, directly or indirectly, in certain transactions with individuals or entities on the FHFA’s list of suspended counterparties, which is available on FHFA’s website.