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Federal Home Loan Bank of New York Q4 net income $122.7 million POST Online Media

Federal Home Loan Bank of New York Q4 net income $122.7 million

Staff Writer | Monday February 11, 2019 3:46AM ET
FHLBNY
Federal Home Loan Bank of New York   Return on average equity ("ROE") for the fourth quarter of 2018 was 6.

The Federal Home Loan Bank of New York (FHLBNY) released its unaudited financial highlights for the quarter and year ended December 31, 2018.


In the fourth quarter of 2018, the FHLBNY earned $122.7 million in net income, a decrease of $22.5 million, or 15.5 percent, from net income of $145.2 million for the fourth quarter of 2017, primarily driven by lower advances balances during the period.

Return on average equity ("ROE") for the fourth quarter of 2018 was 6.46 percent, compared to ROE of 7.51 percent for the fourth quarter of 2017.

The FHLBNY's net income for 2018 was $560.5 million, an increase of $81.0 million, or 16.9 percent, from net income of $479.5 million for 2017.

During 2017, the FHLBNY recorded a one-time charge of $70 million to settle all claims related to the 2008 Lehman Brothers bankruptcy. The FHLBNY's ROE for 2018 was 7.20 percent, compared to ROE of 6.30 percent for 2017.

 

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