FHLBanks’ Joint Capital Enhancement Agreement and Amendments to the FHLBNY’s Capital Plan [Individually Addressed to Customers]Joint Capital Enhancement Agreement • August 5th, 2011 • Federal Home Loan Bank of New York • Federal & federally-sponsored credit agencies
On February 28, 2011, the 12 Federal Home Loan Banks entered into a Joint Capital Enhancement Agreement (Agreement) intended to enhance the capital position of each FHLBank. The FHLBanks subsequently amended their capital plans to implement the provisions of the Agreement, and I am writing to advise you that, on August 5, 2011, the Federal Housing Finance Agency (FHFA) approved these capital plan amendments. The amended capital plans, including the Federal Home Loan Bank of New York’s (FHLBNY) amended Capital Plan, will become effective on September 5, 2011.
JOINT CAPITAL ENHANCEMENT AGREEMENTJoint Capital Enhancement Agreement • August 5th, 2011 • Federal Home Loan Bank of New York • Federal & federally-sponsored credit agencies • New York
This Joint Capital Enhancement Agreement, as amended, was entered into by each of the undersigned Federal Home Loan Banks (each a “Federal Home Loan Bank” and collectively the “Federal Home Loan Banks”) as of the Effective Date, and has been amended as of the Amendment Effective Date.
