The Federal Home Loan Bank of New York (FHLBNY) released unaudited financial highlights for the quarter ended September 30, 2026. The bank reported net income of $157.6 million for the third quarter, a decrease of $2.1 million, or 1.3%, compared to the same period in 2025.
Net interest income for the quarter was $214.5 million, an increase of $2.5 million, or 1.2%, from the prior year. This growth was partially offset by a decrease in non-interest income of $4.5 million, or 14.3%. The filing attributes the decline in non-interest income to market value decreases in Acquired Member Assets mortgage commitments and employee non-qualified retirement plan assets, which occurred as yields increased through the quarter. These impacts were partially offset by gains on derivatives and trading securities held for liquidity management.
Return on average equity (ROE) for the quarter was 6.48% (annualized), down from 7.65% in the third quarter of 2025. The filing notes that higher advances balances increased the bank's capital stock levels, while net spreads decreased due to lower investment activity and increased term funding activity.
On the balance sheet, total assets as of September 30, 2026, were $188.7 billion, an increase of $32.2 billion, or 20.6%, from $156.5 billion at December 31, 2025. Advances (par amount) totaled $120.5 billion, an increase of $28.0 billion, or 30.3%, from the prior year-end. Total capital stood at $9.4 billion, an increase of $1.4 billion from December 31, 2025. As of September 30, 2026, the FHLBNY was in compliance with its regulatory capital ratios and liquidity requirements.
The bank allocated $28.2 million from its third quarter earnings to support affordable housing and community development initiatives. This included $17.5 million for the statutory Affordable Housing Program and $10.7 million in voluntary contributions for other community support programs.
The FHLBNY serves 337 financial institutions in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. The bank expects to file its Form 10-Q for the third quarter of 2026 with the U.S. Securities and Exchange Commission on or before November 5, 2026.
