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Federal Home Loan Bank of New York Q2 net income $155.2 million

Staff Writer | July 27, 2018
The Federal Home Loan Bank of New York (FHLBNY) released its unaudited financial highlights for the second quarter ended June 30, 2018.
Bank of New York
FHLBNY   As of June 30, 2018, total assets were $156.6 billion
Net income for the quarter was $155.2 million, an increase of $24.3 million, or 18.6 percent, from net income of $130.9 million for the second quarter of 2017.

This increase in net income was driven primarily by an increase in advances income. Return on average equity ("ROE") for the quarter was 8.05 percent (annualized), compared to ROE of 6.99 percent for the second quarter of 2017.

As of June 30, 2018, total assets were $156.6 billion, a decrease of $2.3 billion, or 1.4 percent, from total assets of $158.9 billion at December 31, 2017.

This decrease in total assets was driven primarily by lower advances balances during the period. As of June 30, 2018, advances were $110.8 billion, a decrease of $11.6 billion, or 9.5 percent, from $122.4 billion at December 31, 2017.

This decrease was partly offset by increases in securities purchased under agreements to sell, federal funds sold and trading securities for a total of $8.9 billion.

As of June 30, 2018, total capital was $7.9 billion, a decrease of $318.0 million from total capital of $8.2 billion at December 31, 2017.

The FHLBNY's retained earnings increased by $79.1 million to $1.6 billion as of June 30, 2018, of which $1.1 billion were unrestricted retained earnings and $535.5 million were restricted retained earnings.

At June 30, 2018, the FHLBNY met its regulatory capital ratios and liquidity requirements.

The FHLBNY allocated $17.3 million from its second quarter 2018 earnings for its Affordable Housing Program.


 

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