Federal Home Loan Bank Of New York 10-Q 9 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Jul. 31, 2017
Document and Entity Information
Entity Registrant Name	Federal Home Loan Bank of New York
Entity Central Index Key	1,329,842
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		67,213,155
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2

Statements of Condition

Statements of Condition - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Assets
Cash and due from banks (Note 3)	$ 533,614	$ 151,769
Securities purchased under agreements to resell (Note 4)	5,175,000	7,150,000
Federal funds sold (Note 4)	10,700,000	6,683,000
Trading securities (Note 5)	30,911	131,151
Available-for-sale securities, net of unrealized gains of $9,104 at June 30,2017 and $4,224 at December 31, 2016 (Note 6)	634,096	697,812
Held-to-maturity securities (Note 7)	17,106,788	16,022,293
Advances (Note 8) (Includes $2,741,800 at June 30, 2017 and $9,873,157 at December 31, 2016 at fair value under the fair value option)	117,934,006	109,256,625
Mortgage loans held-for-portfolio, net of allowance for credit losses of $1,004 at June 30, 2017 and $1,554 at December 31, 2016 (Note 9)	2,848,445	2,746,559
Loans to other FHLBanks (Note 19)		255,000
Accrued interest receivable	186,001	163,379
Premises, software, and equipment	26,643	12,621
Derivative assets (Note 16)	344,852	328,875
Other assets	8,749	7,198
Total assets	155,529,105	143,606,282
Deposits (Note 10)
Interest-bearing demand	1,868,534	1,183,468
Non-interest-bearing demand	20,213	22,281
Term	39,000	35,000
Total deposits	1,927,747	1,240,749
Consolidated obligations, net (Note 11)
Bonds (Includes $399,794 at June 30, 2017 and $2,052,513 at December 31, 2016 at fair value under the fair value option)	87,559,342	84,784,664
Discount notes (Includes $3,679,025 at June 30, 2017 and $12,228,412 at December 31, 2016 at fair value under the fair value option)	57,330,972	49,357,894
Total consolidated obligations	144,890,314	134,142,558
Mandatorily redeemable capital stock (Note 13)	20,559	31,435
Accrued interest payable	149,264	130,178
Affordable Housing Program (Note 12)	121,282	125,062
Derivative liabilities (Note 16)	116,893	144,985
Other liabilities	183,464	167,234
Total liabilities	147,409,523	135,982,201
Commitments and Contingencies (Notes 13, 16 and 18)
Capital (Note 13)
Capital stock ($100 par value), putable, issued and outstanding shares: 67,565 at June 30, 2017 and 63,077 at December 31, 2016	6,756,500	6,307,766
Retained earnings
Unrestricted	1,025,744	1,028,674
Restricted (Note 13)	423,387	383,291
Total retained earnings	1,449,131	1,411,965
Total accumulated other comprehensive loss	(86,049)	(95,650)
Total capital	8,119,582	7,624,081
Total liabilities and capital	$ 155,529,105	$ 143,606,282

Statements of Condition (Parent

Statements of Condition (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Statements of Condition
Available-for-sale securities, unrealized gains	$ 9,104	$ 4,224
Advances, at fair value under the fair value option	2,741,800	9,873,157
Mortgage loans held-for-portfolio, allowance for credit losses	1,004	1,554
Bonds, at fair value under the fair value option	399,794	2,052,513
Discount notes, at fair value under the fair value option	$ 3,679,025	$ 12,228,412
Capital stock, par value (in dollars per share)	$ 100	$ 100
Capital stock, putable (in shares)	67,565	63,077
Capital stock, issued (in shares)	67,565	63,077
Capital stock, outstanding (in shares)	67,565	63,077

Statements of Income

Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Interest income
Advances, net (Note 8)	$ 361,306	$ 210,149	$ 678,077	$ 401,423
Interest-bearing deposits	46	517	81	1,035
Securities purchased under agreements to resell (Note 4)	5,008	1,315	8,313	3,520
Federal funds sold (Note 4)	35,872	10,861	63,473	21,170
Trading securities (Note 5)	75		214
Available-for-sale securities (Note 6)	2,447	2,429	4,698	4,704
Held-to-maturity securities (Note 7)	91,832	71,458	178,251	142,129
Mortgage loans held-for-portfolio (Note 9)	23,399	21,618	46,257	43,595
Loans to other FHLBanks (Note 19)	12	12	20	15
Total interest income	519,997	318,359	979,384	617,591
Interest expense
Consolidated obligation bonds (Note 11)	238,932	139,085	445,416	261,446
Consolidated obligation discount notes (Note 11)	101,581	48,861	178,754	97,381
Deposits (Note 10)	3,063	764	4,887	1,290
Mandatorily redeemable capital stock (Note 13)	239	327	643	623
Cash collateral held and other borrowings	68	338	121	701
Total interest expense	343,883	189,375	629,821	361,441
Net interest income before provision for credit losses	176,114	128,984	349,563	256,150
Provision/(Reversal) for credit losses on mortgage loans	200	346	(101)	1,472
Net interest income after provision for credit losses	175,914	128,638	349,664	254,678
Other income (loss)
Service fees and other	4,111	3,481	7,363	6,907
Instruments held at fair value - Unrealized losses (Note 17)	(3,581)	(2,891)	(1,862)	(11,994)
Total OTTI losses				(113)
Net amount of impairment losses reclassified (from)/to Accumulated other comprehensive loss		(138)		(33)
Net impairment losses recognized in earnings	0	(138)	0	(146)
Net realized and unrealized gains (losses) on derivatives and hedging activities (Note 16)	584	1,417	(118)	2,301
Net losses on trading securities	(12)		(64)
Net realized gains from sale of available-for-sale securities (Note 6)		250		250
Provision for litigation settlement on derivative contracts (Note 21)			(70,000)
Losses from extinguishment of debt		(1,967)		(2,090)
Total other income (loss)	1,102	152	(64,681)	(4,772)
Other expenses
Operating	10,698	7,658	19,176	15,195
Compensation and benefits	17,631	16,421	36,005	33,697
Finance Agency and Office of Finance	3,201	2,853	6,977	6,455
Total other expenses	31,530	26,932	62,158	55,347
Income before assessments	145,486	101,858	222,825	194,559
Affordable Housing Program Assessments (Note 12)	14,573	10,218	22,347	19,518
Net income	$ 130,913	$ 91,640	$ 200,478	$ 175,041
Basic earnings per share (Note 14) (in dollars per share)	$ 2.11	$ 1.66	$ 3.23	$ 3.18
Cash dividends paid per share (in dollars per share)	$ 1.23	$ 1.12	$ 2.65	$ 2.29

Statements of Comprehensive Inc

Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Statements of Comprehensive Income
Net income	$ 130,913	$ 91,640	$ 200,478	$ 175,041
Other Comprehensive income (loss)
Net change in unrealized gains (losses) on available-for-sale securities	2,176	(1,653)	4,880	(4,405)
Net change in non-credit portion of other-than-temporary impairment losses on held-to-maturity securities
Non-credit portion of other-than-temporary impairment losses				(105)
Reclassification of non-credit portion included in net income		138		138
Accretion of non-credit portion of OTTI	1,274	1,650	7,138	3,351
Total net change in non-credit portion of other-than-temporary impairment losses on held-to-maturity securities	1,274	1,788	7,138	3,384
Net change in unrealized gains/losses relating to hedging activities
Unrealized (losses)/gains	(13,786)	(22,726)	(3,700)	(79,599)
Reclassification of losses included in net income	294	592	603	1,148
Total net change in unrealized (losses)/gains relating to hedging activities	(13,492)	(22,134)	(3,097)	(78,451)
Net change in pension and postretirement benefits	340	199	680	399
Total other comprehensive (loss)/income	(9,702)	(21,800)	9,601	(79,073)
Total comprehensive income	$ 121,211	$ 69,840	$ 210,079	$ 95,968

Statements of Capital (Equity)

Statements of Capital (Equity) - USD ($) shares in Thousands, $ in Thousands		Capital StockCapital Stock Class B		Total Retained Earnings	Unrestricted Retained Earnings	Restricted Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Total
Balance at Dec. 31, 2015		$ 5,585,030	[1]	$ 1,270,139	$ 967,078	$ 303,061	$ (135,687)	$ 6,719,482
Balance (in shares) at Dec. 31, 2015	[1]	55,850
Increase (decrease) in shareholders' equity
Proceeds from issuance of capital stock		$ 2,012,366	[1]					2,012,366
Proceeds from issuance of capital stock (in shares)	[1]	20,124
Repurchase/redemption of capital stock		$ (1,917,766)	[1]					(1,917,766)
Repurchase/redemption of capital stock (in shares)	[1]	(19,178)
Shares reclassified to mandatorily redeemable capital stock		$ (13,207)	[1]					(13,207)
Shares reclassified to mandatorily redeemable capital stock (in shares)	[1]	(132)
Cash dividends ($2.65 and $2.29 per share) for the six months ended June 30, 2017 and June 30, 2016 respectively) on capital stock				(122,622)	(122,622)			(122,622)
Comprehensive income				175,041	140,033	35,008	(79,073)	95,968
Balance at Jun. 30, 2016		$ 5,666,423	[1]	1,322,558	984,489	338,069	(214,760)	6,774,221
Balance (in shares) at Jun. 30, 2016	[1]	56,664
Balance at Dec. 31, 2016		$ 6,307,766	[1]	1,411,965	1,028,674	383,291	(95,650)	7,624,081
Balance (in shares) at Dec. 31, 2016	[1]	63,077
Increase (decrease) in shareholders' equity
Proceeds from issuance of capital stock		$ 2,957,216	[1]					2,957,216
Proceeds from issuance of capital stock (in shares)	[1]	29,572
Repurchase/redemption of capital stock		$ (2,505,473)	[1]					(2,505,473)
Repurchase/redemption of capital stock (in shares)	[1]	(25,054)
Shares reclassified to mandatorily redeemable capital stock		$ (3,009)	[1]					(3,009)
Shares reclassified to mandatorily redeemable capital stock (in shares)	[1]	(30)
Cash dividends ($2.65 and $2.29 per share) for the six months ended June 30, 2017 and June 30, 2016 respectively) on capital stock				(163,312)	(163,312)			(163,312)
Comprehensive income				200,478	160,382	40,096	9,601	210,079
Balance at Jun. 30, 2017		$ 6,756,500	[1]	$ 1,449,131	$ 1,025,744	$ 423,387	$ (86,049)	$ 8,119,582
Balance (in shares) at Jun. 30, 2017	[1]	67,565
[1]	Putable stock.

Statements of Capital (Parenthe

Statements of Capital (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Statements of Capital
Cash dividends on capital stock (in dollars per share)	$ 1.23	$ 1.12	$ 2.65	$ 2.29

Statements of Cash Flows

Statements of Cash Flows - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016
Operating activities
Net income		$ 200,478	$ 175,041
Depreciation and amortization:
Net premiums and discounts on consolidated obligations, investments, mortgage loans and other adjustments		(25,434)	(90,924)
Concessions on consolidated obligations		2,140	3,372
Premises, software, and equipment		2,061	1,750
(Reversal)/Provision for credit losses on mortgage loans		(101)	1,472
Net realized gains from sale of available-for-sale securities			(250)
Credit impairment losses on held-to-maturity securities		0	146
Change in net fair value adjustments on derivatives and hedging activities		23,748	106,109
Net realized and unrealized losses on trading securities		64
Change in fair value adjustments on financial instruments held at fair value		1,925	11,994
Losses from extinguishment of debt			2,090
Net change in:
Accrued interest receivable		(22,751)	(2,520)
Derivative assets due to accrued interest		(12,038)	(18,403)
Derivative liabilities due to accrued interest		4,611	(3,248)
Other assets		(2,498)	1,962
Affordable Housing Program liability		(3,780)	1,613
Accrued interest payable		19,086	10,263
Other liabilities		14,607	(214)
Total adjustments		1,640	25,212
Net cash provided by operating activities		202,118	200,253
Net change in:
Interest-bearing deposits		6,887	(264,788)
Securities purchased under agreements to resell		1,975,000	(1,760,000)
Federal funds sold		(4,017,000)	(1,739,000)
Deposits with other FHLBanks		2	(55)
Premises, software, and equipment		(16,083)	(1,999)
Trading securities:
Proceeds from sales		100,164
Available-for-sale securities:
Purchased		(1,819)	(5,543)
Repayments		70,478	100,149
Proceeds from sales		914	117,460
Held-to-maturity securities:
Purchased		(2,068,144)	(1,287,817)
Repayments		988,927	751,343
Advances:
Principal collected		545,626,026	380,884,207
Made		(554,329,189)	(381,747,248)
Mortgage loans held-for-portfolio:
Principal collected		128,510	131,294
Purchased		(233,491)	(242,527)
Proceeds from sales of REO		2,507	1,997
Net change in loans to other FHLBanks		255,000
Net cash used in investing activities		(11,511,311)	(5,062,527)
Net change in:
Deposits and other borrowings		670,238	(228,190)
Derivative contracts with financing element		(10,423)	(36,964)
Consolidated obligation bonds:
Proceeds from issuance		36,631,175	29,753,317
Payments for maturing and early retirement		(33,854,358)	(26,788,133)
Consolidated obligation discount notes:
Proceeds from issuance		565,986,743	149,506,915
Payments for maturing		(558,006,883)	(147,296,455)
Capital stock:
Proceeds from issuance of capital stock		2,957,216	2,012,366
Payments for repurchase/redemption of capital stock		(2,505,473)	(1,917,766)
Redemption of mandatorily redeemable capital stock		(13,885)	(2,828)
Cash dividends paid (a)	[1]	(163,312)	(122,622)
Net cash provided by financing activities		11,691,038	4,879,640
Net increase in cash and due from banks		381,845	17,366
Cash and due from banks at beginning of the period(b)	[2]	151,769	327,482
Cash and due from banks at end of the period(b)	[2]	533,614	344,848
Supplemental disclosures:
Interest paid		456,866	283,526
Affordable Housing Program payments (c)	[3]	26,127	17,905
Transfers of mortgage loans to real estate owned		650	446
Net amount of impairment losses reclassified (from)/to Accumulated other comprehensive loss			(33)
Capital stock subject to mandatory redemption reclassified from equity		$ 3,009	$ 13,207
[1]	Does not include payments to holders of mandatorily redeemable capital stock. Such payments are considered as interest expense and reported within Operating cash flows.
[2]	Cash and due from banks did not include any restricted cash or cash equivalents. Includes pass-thru reserves at the Federal Reserve Bank of New York; also includes an unrestricted compensating balance arrangement. For more information, see Note 3 Cash and Due from Banks.
[3]	AHP payments = (beginning accrual - ending accrual) + AHP assessment for the period; payments represent funds released to the Affordable Housing Program.

Background, Tax Status. Assessm

Background, Tax Status. Assessments.	6 Months Ended
	Jun. 30, 2017
Background, Tax Status. Assessments.
Background, Tax Status. Assessments.	Background The Federal Home Loan Bank of New York (“FHLBNY” or “the Bank”) is a federally chartered corporation, and is one of 11 district Federal Home Loan Banks (“FHLBanks”). The FHLBanks are U.S. government-sponsored enterprises (“GSEs”), organized under the authority of the Federal Home Loan Bank Act of 1932, as amended (“FHLBank Act”). Each FHLBank is a cooperative owned by member institutions located within a defined geographic district. The FHLBNY’s defined geographic district is New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. Tax Status. The FHLBanks, including the FHLBNY, are exempt from ordinary federal, state, and local taxation except for real property taxes. Assessments. Affordable Housing Program (“AHP”) Assessments — Each FHLBank, including the FHLBNY, provides subsidies in the form of direct grants and below-market interest rate advances to members, who use the funds to assist in the purchase, construction or rehabilitation of housing for very low-, low- and moderate-income households. Annually, the 11 FHLBanks must allocate the greater of $100 million or 10% of their regulatory defined net income for the Affordable Housing Program.

Significant Accounting Policies

Significant Accounting Policies and Estimates.	6 Months Ended
	Jun. 30, 2017
Significant Accounting Policies and Estimates.
Significant Accounting Policies and Estimates.	Note 1. Significant Accounting Policies and Estimates. Basis of Presentation The accompanying financial statements of the Federal Home Loan Bank of New York have been prepared in accordance with Generally Accepted Accounting Principles in the United States (“GAAP”) and with the instructions provided by the Securities and Exchange Commission (“SEC”). Significant Accounting Policies and Estimates The FHLBNY has identified certain accounting policies that it believes are significant because they require management to make subjective judgments about matters that are inherently uncertain and because of the likelihood that materially different amounts would be reported under different conditions or by using different assumptions. These policies include estimating the allowance for credit losses on the advance and mortgage loan portfolios, evaluating the impairment of the FHLBNY’s securities portfolios, and estimating fair values of certain assets and liabilities. There have been no significant changes to accounting policies from those identified in Note 1. Significant Accounting Policies and Estimates in Notes to the Financial Statements in the Bank’s most recent Form 10-K filed on March 22, 2017, which contains a summary of the Bank’s significant accounting policies and estimates. Recently Adopted Significant Accounting Policies Contingent Put and Call Options in Debt Instruments . In March 2016 , the FASB issued ASU No. 2016-06, Contingent Put and Call options in Debt Instruments, as an amendment to Derivatives and Hedging Activities (Topic 815). The amendments clarify the requirements for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. The guidance requires entities to apply only the four-step decision sequence when assessing whether the economic characteristics and risks of call (put) options are clearly and closely related to the economic characteristics and risks of their debt hosts. Consequently, when a call (put) option is contingently exercisable, an entity does not have to assess whether the event that triggers the ability to exercise a call (put) option is related to interest rates or credit risks. This guidance became effective for the FHLBNY as of January 1, 2017, and adoption had no impact on our financial condition, results of operations, and cash flows. Certain FHLBNY’s debt instruments are structured with call options, but the options are not considered as contingently exercisable. For information on policies adopted in 2016, see Recently Adopted Significant Accounting Policies in Note 1 in the Bank’s most recent Form 10-K filed on March 22, 2017.

Recently Issued Accounting Stan

Recently Issued Accounting Standards and Interpretations.	6 Months Ended
	Jun. 30, 2017
Recently Issued Accounting Standards and Interpretations.
Recently Issued Accounting Standards and Interpretations.	Note 2. Recently Issued Accounting Standards and Interpretations. Accounting for Financial Instruments — Credit Losses . In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses (Topic 326). The ASU introduces a new accounting model, the Current Expected Credit Losses model (“CECL”), which requires earlier recognition of credit losses, while also providing additional transparency about credit risk. The FASB’s CECL model utilizes a lifetime “expected credit loss” measurement objective for the recognition of credit losses for loans, held-to-maturity securities and other receivables at the time the financial asset is originated or acquired. The expected credit losses are adjusted each period for changes in expected lifetime credit losses. For available-for-sale securities where fair value is less than cost, credit-related impairment, if any, will be recognized in an allowance for credit losses and adjusted each period for changes in expected credit risk. This model replaces the multiple existing impairment models in current GAAP, which generally require that a loss be incurred before it is recognized. We are in the process of evaluating this guidance. The CECL model represents a significant departure from existing GAAP, but we do not expect adoption will have a material impact on our financial condition, results of operations, and cash flows. This guidance is effective for the FHLBNY for interim and annual periods beginning on January 1, 2020. Early application is permitted as of the interim and annual reporting periods beginning after December 15, 2018 (January 1, 2019 for the FHLBNY). Lease Accounting. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , which is intended to increase transparency and comparability of accounting for lease transactions. The ASU will require lessees to recognize all leases on the balance sheet as lease assets and lease liabilities and will require both quantitative and qualitative disclosures regarding key information about leasing arrangements. Lessor accounting is largely unchanged. The guidance is effective beginning January 1, 2019 with an option to early adopt. The lease for our New York office was renewed under long-term contracts in mid-year 2017; the lease for our New Jersey office is up for renewal in 2018. Beginning January 1, 2019, leases will be recognized on our balance sheet under ASU No. 2016-02. Recognition of the “right-to-use” asset and an offsetting lease liability for our operating leases under the ASU would have a minimal impact on our statements of condition and the statements of income upon adoption. Recognition and Measurement of Financial Assets and Financial Liabilities . In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities, as an amendment to Financial Instruments — Overall (Subtopic 825-10). The amendments provide guidance on certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. This ASU requires entities to present separately in OCI the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. It will also require equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income, thus eliminating eligibility for the current available-for-sale category. The guidance is effective for the FHLBNY as of January 1, 2018. The amendments, in general, should be applied by means of a cumulative-effect adjustment on the statement of condition as of the beginning of the period of adoption. The FHLBNY is in the process of evaluating this guidance, but does not expect adoption will have a material impact on its financial condition, results of operations, and cash flows. Revenue Recognition . In May 2014, the FASB issued ASU No. 2014-09, (Topic 606): Revenue from Contracts with Customers . The FASB and the International Accounting Standards Board (“IASB”) initiated a joint project to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. GAAP and International Financial Reporting Standards (“IFRS”) that would remove inconsistencies and improve comparability of revenue recognition practices across entities and industries, and provide more useful information to users of financial statements through improved disclosure requirements. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance provides entities with the option of using either of the following adoption methods: a full retrospective method, retrospectively to each prior reporting period presented; or a modified retrospective method, retrospectively with the cumulative effect of initially applying this guidance recognized at the date of initial application. On August 12, 2015, the FASB issued an amendment to defer the effective date of the guidance issued by one year. In 2016, the FASB has issued additional amendments to clarify certain aspects of the new revenue guidance. However, these amendments do not change the core principle of the new revenue standard. This guidance is effective for the FHLBNY as of January 1, 2018. Early application is permitted only as of the interim and annual reporting periods beginning after December 15, 2016. Our Net income is derived principally from net interest income on financial assets and liabilities, which is explicitly excluded from the scope of this guidance. Our non-interest income, which is typically not a material element of our Net income, is potentially subject to this guidance. The FHLBNY is in the process of evaluating this guidance to our non-interest income and on our presentation and disclosures, but we do not expect adoption will have a material impact on our financial condition, results of operations, and cash flows.

Cash and Due from Banks.

Cash and Due from Banks.	6 Months Ended
	Jun. 30, 2017
Cash and Due from Banks.
Cash and Due from Banks.	Note 3. Cash and Due from Banks. Cash on hand, cash items in the process of collection, and amounts due from correspondent banks and the Federal Reserve Banks are included in Cash and due from banks. The FHLBNY is exempted from maintaining any required clearing balance at the Federal Reserve Bank of New York. Compensating Balances The FHLBNY maintains compensating collected cash balances at Citibank in return for certain fee based safekeeping and back office operational services that the counterparty provides to the FHLBNY. There are no restrictions on the withdrawal of funds. The balance was $52.0 million at June 30, 2017 and $90.4 million at December 31, 2016. Pass-through Deposit Reserves The FHLBNY acts as a pass-through correspondent for member institutions who are required by banking regulations to deposit reserves with the Federal Reserve Banks. Pass-through reserves deposited with Federal Reserve Banks on behalf of the members by the FHLBNY were $74.3 million and $67.7 million as of June 30, 2017 and December 31, 2016. The offsetting liabilities due to members were recorded in Other liabilities in the Statements of Condition.

Federal Funds Sold and Securiti

Federal Funds Sold and Securities Purchased Under Agreements to Resell.	6 Months Ended
	Jun. 30, 2017
Federal Funds Sold and Securities Purchased Under Agreements to Resell.
Federal Funds Sold and Securities Purchased Under Agreements to Resell.	Note 4. Federal Funds Sold and Securities Purchased Under Agreements to Resell. Federal funds sold — Federal funds sold are unsecured advances to third parties. Securities purchased under agreements to resell — As part of the FHLBNY’s banking activities, the FHLBNY may enter into secured financing transactions that mature overnight, and can be extended only at the discretion of the FHLBNY. These transactions involve the lending of cash, against which marketable securities are taken as collateral. The amount of cash loaned against the collateral is a function of the liquidity and quality of the collateral. The collateral is typically in the form of securities that meet the FHLBNY’s credit quality standards, are highly-rated and readily marketable. The FHLBNY has the ability to call for additional collateral if the value of the securities falls below a pre-defined haircut. The FHLBNY can terminate the transaction and liquidate the collateral if the counterparty fails to post the additional margin. Under these agreements, the FHLBNY would not have the right to re-pledge the securities received. No adjustments for instrument-specific credit risk were deemed necessary as market values of collateral were in excess of principal amounts loaned. At June 30, 2017 and December 31, 2016, the outstanding balances of Securities purchased under agreements to resell were $5.2 billion and $7.2 billion that matured overnight, and were executed through a tri-party arrangement that involved transfer of overnight funds to a segregated safekeeping account at the Bank of New York (“BONY”); BONY, acting as an independent agent on behalf of the FHLBNY and the counterparty to the transactions, assumes the responsibility of receiving eligible securities as collateral and releasing funds to the counterparty. At June 30, 2017 and December 31, 2016, U.S. Treasury securities, market values of $5.2 billion and $7.2 billion, were received at BONY to collateralize the overnight investments. No overnight investments had been executed bilaterally with counterparties at June 30, 2017 and December 31, 2016. Securities purchased under agreements to resell averaged $2.4 billion for the three and six months ended June 30, 2017. For the same periods in the prior year, transaction balances averaged $1.7 billion and $2.4 billion. Transactions recorded as Securities purchased under agreements to resell (reverse repos) were accounted as collateralized financing transactions. For the three and six months ended June 30, 2017, interest income from securities purchased under agreements to resell were $5.0 million and $8.3 million, compared to interest income of $1.3 million and $3.5 million for the same periods in the prior year.

Trading Securities.

Trading Securities.	6 Months Ended
	Jun. 30, 2017
Trading Securities
Securities
Securities.	Note 5. Trading Securities. The carrying value of a trading security equals its fair value. The following table provides major security types at June 30, 2017 and December 31, 2016 (in thousands): Fair value (in thousands) June 30, 2017 December 31, 2016 Non-mortgage-backed securities GSE securities $ $ U.S. treasury notes — Total non-mortgage-backed trading securities $ $ The carrying values of trading securities included unrealized fair value losses of $26 thousand at June 30, 2017, and unrealized fair value gains of $0.1 million at December 31, 2016. Redemption Terms The contractual maturities and estimated fair values (a) of investments classified as trading were as follows (in thousands): June 30, 2017 (Dollars in thousands) Due in one year Total Fair Non-mortgage-backed securities GSE securities $ $ Total non-mortgage-backed trading securities $ $ Yield on trading securities % December 31, 2016 (Dollars in thousands) Due in one year Total Fair Non-mortgage-backed securities GSE securities $ $ U.S. treasury notes Total non-mortgage-backed trading securities $ $ Yield on trading securities % (a) We have classified investments acquired for purposes of meeting short-term contingency liquidity needs as trading securities, which are carried at their fair values. In accordance with Finance Agency guidance, we do not participate in speculative trading practices.

Available-for-Sale Securities.

Available-for-Sale Securities.	6 Months Ended
	Jun. 30, 2017
Available-for-Sale Securities
Securities
Securities.	Note 6. Available-for-Sale Securities. The carrying value of an AFS security equals its fair value. At June 30, 2017 and December 31, 2016, no AFS security was other-than-temporarily impaired. The following tables provide major security types (in thousands): June 30, 2017 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains (b) Losses (b) Value Cash equivalents (a) $ $ — $ — $ Equity funds (a) ) Fixed income funds (a) ) GSE and U.S. Obligations Mortgage-backed securities CMO-Floating — CMBS-Floating — Total Available-for-sale securities $ $ $ ) $ December 31, 2016 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains (b) Losses (b) Value Cash equivalents (a) $ $ — $ — $ Equity funds (a) ) Fixed income funds (a) — ) GSE and U.S. Obligations Mortgage-backed securities CMO-Floating ) CMBS-Floating — Total Available-for-sale securities $ $ $ ) $ (a) The FHLBNY has a grantor trust, the intent of which is to set aside cash to meet current and future payments for supplemental unfunded pension plans. Neither the pension plans nor employees of the FHLBNY own the trust. Investments in the trust are classified as AFS. The grantor trust invests in money market, equity and fixed income and bond funds. Daily net asset values (NAVs) are readily available and investments are redeemable at short notice. NAVs are the fair values of the funds in the grantor trust. The mutual funds used to manage the assets of the Grantor trust will be sufficiently liquid to enable the trust to meet future liabilities. Dividend income and net realized gains from sales of funds totaled $0.5 million and $0.7 million for three and six months ended June 30, 2017, compared to $0.2 million and $0.3 million for the same periods in the prior year; gains and losses from sales are recorded in Other income in the Statements of Income. (b) Recorded in AOCI — Net unrealized fair value gains were $9.1 million at June 30, 2017 and $4.2 million at December 31, 2016. Unrealized Losses — MBS Classified as AFS Securities Impairment Analysis of AFS Securities — The FHLBNY’s portfolio of MBS classified as AFS is comprised of GSE-issued collateralized mortgage obligations, which are “pass through” securities, and floating rate CMBS. The FHLBNY evaluates its GSE-issued securities by considering the creditworthiness and performance of the debt securities and the strength of the government-sponsored enterprises’ guarantees of the securities. Fair values of mortgage-backed securities in the AFS portfolio were in excess of their amortized costs at June 30, 2017, and no security was in a loss position for 12 months or longer in the six months ended June 30, 2017. Based on the analysis, GSE-issued securities are performing in accordance with their contractual agreements. The FHLBNY believes that it will recover its investments in GSE-issued securities given the current levels of collateral, credit enhancements and guarantees that exist to protect the investments. Redemption Terms Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment fees. The amortized cost and estimated fair value (a) of investments classified as AFS, by contractual maturity, were as follows (in thousands): June 30, 2017 December 31, 2016 Amortized Cost (c) Fair Value Amortized Cost (c) Fair Value Mortgage-backed securities Due after one year through five years $ $ $ $ Due after ten years Fixed income/bond funds, equity funds and cash equivalents (b) Total Available-for-sale securities $ $ $ $ (a) The carrying value of AFS securities equals fair value . (b) Funds in the grantor trust are determined to be redeemable at short notice. Fair values are the daily NAVs of the bond and equity funds. (c) Amortized cost is after adjusting for net unamortized discounts of $2.1 million and $2.4 million at June 30, 2017 and December 31, 2016. Interest Rate Payment Terms The following table summarizes interest rate payment terms of investments in mortgage-backed securities classified as AFS securities (in thousands): June 30, 2017 December 31, 2016 Amortized Cost Fair Value Amortized Cost Fair Value Mortgage-backed securities CMO floating - LIBOR $ $ $ $ CMBS floating - LIBOR Total Mortgage-backed securities (a) $ $ $ $ (a) Total will not agree to total AFS portfolio because the grantor trust, which primarily comprises of mutual funds, has been excluded.

Held-to-Maturity Securities.

Held-to-Maturity Securities.	6 Months Ended
	Jun. 30, 2017
Held-to-Maturity securities
Securities
Securities.	Note 7. Held-to-Maturity Securities. Major Security Types (in thousands) June 30, 2017 OTTI Gross Gross Amortized Recognized Carrying Unrecognized Unrecognized Fair Issued, guaranteed or insured: Cost (d) in AOCI Value Holding Gains (a) Holding Losses (a) Value Pools of Mortgages Fannie Mae $ $ — $ $ $ — $ Freddie Mac — — Total pools of mortgages — — Collateralized Mortgage Obligations/Real Estate Mortgage Investment Conduits Fannie Mae — ) Freddie Mac — ) Ginnie Mae — — Total CMOs/REMICs — ) Commercial Mortgage-Backed Securities (b) Fannie Mae — ) Freddie Mac — ) Total commercial mortgage-backed securities — ) Non-GSE MBS (c) CMOs/REMICs ) ) Asset-Backed Securities (c) Manufactured housing (insured) — ) Home equity loans (insured) ) ) Home equity loans (uninsured) ) ) Total asset-backed securities ) ) Total MBS ) ) Other State and local housing finance agency obligations — ) Total Held-to-maturity securities $ $ ) $ $ $ ) $ December 31, 2016 OTTI Gross Gross Amortized Recognized Carrying Unrecognized Unrecognized Fair Issued, guaranteed or insured: Cost (d) in AOCI Value Holding Gains (a) Holding Losses (a) Value Pools of Mortgages Fannie Mae $ $ — $ $ $ — $ Freddie Mac — — Total pools of mortgages — — Collateralized Mortgage Obligations/Real Estate Mortgage Investment Conduits Fannie Mae — ) Freddie Mac — ) Ginnie Mae — ) Total CMOs/REMICs — ) Commercial Mortgage-Backed Securities (b) Fannie Mae — ) Freddie Mac — ) Total commercial mortgage-backed securities — ) Non-GSE MBS (c) CMOs/REMICs ) ) Asset-Backed Securities (c) Manufactured housing (insured) — — Home equity loans (insured) ) ) Home equity loans (uninsured) ) ) Total asset-backed securities ) ) Total MBS ) ) Other State and local housing finance agency obligations — ) Total Held-to-maturity securities $ $ ) $ $ $ ) $ (a) Unrecognized gross holding gains and losses represent the difference between fair value and carrying value. (b) Commercial mortgage-backed securities (“CMBS”) are Agency issued securities, collateralized by income-producing “multifamily properties”. Eligible property types include standard conventional multifamily apartments, affordable multifamily housing, seniors housing, student housing, military housing, and rural rent housing. (c) The amounts represent non-agency private-label mortgage- and asset-backed securities. (d) Amortized cost — For securities that were deemed to be OTTI, amortized cost represents unamortized cost less credit OTTI, net of credit OTTI reversed due to improvements in cash flows. Certain non-Agency Private label MBS are insured by Ambac Assurance Corp (“Ambac”), MBIA Insurance Corp (“MBIA”) and Assured Guarantee Municipal Corp., (“AGM”). Assumptions on the extent of expected reliance by the FHLBNY on insurance support by Ambac and MBIA to make whole expected cash shortfalls are noted under “Monoline insurance” within this Note 7. Held-to-Maturity Securities. Securities Pledged The FHLBNY had pledged MBS, with an amortized cost basis of $6.3 million at June 30, 2017 and $7.0 million at December 31, 2016, to the FDIC in connection with deposits maintained by the FDIC at the FHLBNY. The FDIC does not have rights to sell or re-pledge the collateral unless the FHLBNY defaults under the terms of its deposit arrangements with the FDIC. Unrealized Losses The fair values and gross unrealized holding losses are aggregated by major security type and by the length of time the individual securities have been in a continuous unrealized loss position. Unrealized losses represent the difference between fair value and amortized cost. The baseline measure of unrealized loss is amortized cost, which is not adjusted for non-credit OTTI. Total unrealized losses in these tables will not equal unrecognized holding losses in the Major Security Types tables. Unrealized losses are calculated after adjusting for credit OTTI. In the previous tables, unrecognized holding losses are adjusted for credit and non-credit OTTI. The following tables summarize held-to-maturity securities with estimated fair values below their amortized cost basis (in thousands): June 30, 2017 Less than 12 months 12 months or more Total Estimated Unrealized Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses Fair Value Losses Non-MBS Investment Securities State and local housing finance agency obligations $ $ ) $ $ ) $ $ ) MBS Investment Securities MBS-GSE Fannie Mae ) ) ) Freddie Mac ) ) ) Total MBS-GSE ) ) ) MBS-Private-Label ) ) ) Total MBS ) ) ) Total $ $ ) $ $ ) $ $ ) December 31, 2016 Less than 12 months 12 months or more Total Estimated Unrealized Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses Fair Value Losses Non-MBS Investment Securities State and local housing finance agency obligations $ $ ) $ $ ) $ $ ) MBS Investment Securities MBS-GSE Fannie Mae ) ) ) Freddie Mac ) ) ) Ginnie Mae ) — — ) Total MBS-GSE ) ) ) MBS-Private-Label ) ) ) Total MBS ) ) ) Total $ $ ) $ $ ) $ $ ) The FHLBNY’s investments in housing finance agency bonds reported gross unrealized losses of $36.2 million at June 30, 2017 and $37.0 million at December 31, 2016. Management has reviewed the portfolio and has observed that the bonds are performing to their contractual terms, and has concluded that as of June 30, 2017 all of the gross unrealized losses on its housing finance agency bonds are temporary because the underlying collateral and credit enhancements are sufficient to protect the FHLBNY from losses based on current expectations. The credit enhancements may include additional support from: · Monoline Insurance · Reserve and investment funds allocated to the securities that may be used to make principal and interest payments in the event that the underlying loans pledged for these securities are not sufficient to make the necessary payments · General obligation of the State Our analyses of the fair values of HFA bonds have concluded that the market is generally pricing the bonds fairly to the “AA municipal sector”. Based on our review, the FHLBNY expects to recover the entire amortized cost basis of these securities. If conditions in the housing and mortgage markets and general business and economic conditions remain stressed or deteriorate further, the fair value of the bonds may decline further and the FHLBNY may experience OTTI in future periods. Redemption Terms Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment features. The amortized cost and estimated fair value of held-to-maturity securities, arranged by contractual maturity, were as follows (in thousands): June 30, 2017 December 31, 2016 Amortized Estimated Amortized Estimated Cost (a) Fair Value Cost (a) Fair Value State and local housing finance agency obligations Due after one year through five years $ $ $ $ Due after five years through ten years Due after ten years State and local housing finance agency obligations Mortgage-backed securities Due in one year or less Due after one year through five years Due after five years through ten years Due after ten years Mortgage-backed securities Total Held-to-maturity securities $ $ $ $ (a) Amortized cost is after adjusting for net unamortized premiums of $38.4 million and $36.6 million (net of unamortized discounts) at June 30, 2017 and December 31, 2016. Interest Rate Payment Terms The following table summarizes interest rate payment terms of securities classified as held-to-maturity (in thousands): June 30, 2017 December 31, 2016 Amortized Carrying Amortized Carrying Cost Value Cost Value Mortgage-backed securities CMO Fixed $ $ $ $ Floating Total CMO CMBS Fixed Floating Total CMBS Pass Thru (a) Fixed Floating Total Pass Thru Total MBS State and local housing finance agency obligations Fixed Floating Total State and local housing finance agency obligations Total Held-to-maturity securities $ $ $ $ (a) Includes MBS supported by pools of mortgages. Impairment Analysis (OTTI) of GSE-issued and Private Label Mortgage-backed Securities The FHLBNY evaluates its individual securities issued by Fannie Mae, Freddie Mac and U.S. government agency, (collectively GSE-issued securities), by considering the creditworthiness and performance of the debt securities and the strength of the GSEs’ guarantees of the securities. Based on analysis, GSE-issued securities are performing in accordance with their contractual agreements. The FHLBNY believes that it will recover its investments in GSE-issued securities given the current levels of collateral, credit enhancements and guarantees that exist to protect the investments. Management evaluates its investments in private-label MBS (“PLMBS”) for OTTI on a quarterly basis by performing cash flow tests on its entire portfolio of PLMBS. OTTI — No OTTI was recorded in the three and six months ended June 30, 2017, and based on cash flow testing, the Bank believes no additional material OTTI exists for the remaining investments at June 30, 2017. The Bank’s conclusion is also based upon multiple factors, but not limited to the expected performance of the underlying collateral, and the evaluation of the fundamentals of the issuers’ financial condition. Management has not made a decision to sell such securities at June 30, 2017, and has concluded that it will not be required to sell such securities before recovery of the amortized cost basis of the securities. The following table provides rollforward information about the cumulative credit component of OTTI recognized as a charge to earnings related to held-to-maturity securities (in thousands): Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Beginning balance $ $ $ $ Additional credit losses for which an OTTI charge was previously recognized — — Realized credit losses ) — ) — Increases in cash flows expected to be collected, recognized over the remaining life of the securities ) ) ) ) Ending balance $ $ $ $ Monoline insurance — Certain PLMBS owned by the FHLBNY are insured by third-party bond insurers (“monoline insurers”). The bond insurance on these investments guarantees the timely payments of principal and interest if these payments cannot be satisfied from the cash flows of the underlying mortgage pool. The FHLBNY performs cash flow credit impairment tests on all of its PLMBS, and the analysis of the securities protected by such third-party insurance looks first to the performance of the underlying security, and considers its embedded credit enhancements in the form of excess spread, overcollateralization, and credit subordination, to determine the collectability of all amounts due. If the embedded credit enhancement protections are deemed insufficient to make timely payment of all amounts due, then the FHLBNY considers the capacity of the third-party bond insurer to cover any shortfalls. Certain monoline insurers have been subject to adverse ratings, rating downgrades, and weakening financial performance measures. In estimating the insurers’ capacity to provide credit protection in the future to cover any shortfall in cash flows expected to be collected for securities deemed OTTI, the FHLBNY has developed a methodology to analyze and assess the ability of the monoline insurers to meet future insurance obligations. Based on analysis performed, the FHLBNY has determined that for bond insurer AGM, insurance guarantees can be relied upon to cover projected shortfalls. For bond insurer MBIA, financial guarantee is at risk and no financial guarantees were assumed in 2017. For bond insurer Ambac, the reliance period is through June 30, 2021 and is further limited to cover 45% of shortfalls. Key Base Assumptions The tables below summarize the range and weighted average of Key Base Assumptions for private-label MBS at June 30, 2017 and December 31, 2016, including those deemed OTTI: Key Base Assumptions - All PLMBS at June 30, 2017 CDR % (a) CPR % (b) Loss Severity % (c) Security Classification Range Average Range Average Range Average RMBS Prime (d) 0.0-5.2 4.0-16.3 0.0-97.4 RMBS Alt-A (d) 1.0-2.1 2.0-4.6 30.0-30.0 HEL Subprime (e) 1.2-7.6 2.0-17.8 30.0-100.0 Manufactured Housing Loans 3.1-4.0 2.0-5.3 79.4-92.7 Key Base Assumptions - All PLMBS at December 31, 2016 CDR% (a) CPR% (b) Loss Severity% (c) Security Classification Range Average Range Average Range Average RMBS Prime (d) 0.1-5.2 7.5-14.8 0.0-70.8 RMBS Alt-A (d) 1.0-2.7 2.0-4.2 30.0-30.0 HEL Subprime (e) 1.0-12.3 2.0-16.3 30.0-100.0 Manufactured Housing Loans 2.5-3.3 2.7-4.1 77.1-88.4 (a) Conditional Default Rate (CDR) : 1— ((1-MDR)^12) where, MDR is defined as the “Monthly Default Rate (MDR)” = (Beginning Principal Balance of Liquidated Loans)/(Total Beginning Principal Balance). (b) Conditional Prepayment Rate (CPR) : 1— ((1-SMM)^12) where, SMM is defined as the “Single Monthly Mortality (SMM)” = (Voluntary Partial and Full Prepayments + Repurchases + Liquidated Balances)/(Beginning Principal Balance - Scheduled Principal). Voluntary prepayment excludes the liquidated balances mentioned above. (c) Loss Severity (Principal and Interest in the current period) = Sum (Total Realized Loss Amount)/Sum (Beginning Principal and Interest Balance of Liquidated Loans). (d) CMOs/REMICS private-label MBS. (e) Residential asset-backed MBS. Significant Inputs For determining the fair values of all MBS, the FHLBNY has obtained pricing from multiple pricing services; the prices were clustered, averaged, and then assessed qualitatively before adopting the “final price”. Disaggregation of the Level 3 bonds is by collateral type supporting the credit structure of the PLMBS, and the FHLBNY deems that no further disaggregation is necessary for a qualitative understanding of the sensitivity of fair values.

Advances.

Advances.	6 Months Ended
	Jun. 30, 2017
Advances.
Advances.	Note 8. Advances. The FHLBNY offers to its members a wide range of fixed- and adjustable-rate advance loan products with different maturities, interest rates, payment characteristics, and optionality. Redemption Terms Contractual redemption terms and yields of advances were as follows (dollars in thousands): June 30, 2017 December 31, 2016 Weighted (a) Weighted (a) Average Percentage Average Percentage Amount Yield of Total Amount Yield of Total Overdrawn demand deposit accounts $ — — % — % $ % — % Due in one year or less Due after one year through two years Due after two years through three years Due after three years through four years Due after four years through five years Thereafter Total par value % % % % Hedge valuation basis adjustments (b) ) Fair value option valuation adjustments and accrued interest (c) Total $ $ (a) The weighted average yield is the weighted average coupon rates for advances, unadjusted for swaps. For floating-rate advances, the weighted average rate is the rate outstanding at the reporting dates. (b) Hedge valuation basis adjustments represent changes in the fair values of fixed-rate advances due to changes in LIBOR, which is the FHLBNY’s benchmark rate in a Fair value hedge. (c) Valuation adjustments represent changes in the entire fair values of advances elected under the FVO. Monitoring and Evaluating Credit Losses on Advances — Summarized below are the FHLBNY’s assessment methodologies for evaluating advances for credit losses. The FHLBNY closely monitors the creditworthiness of the institutions to which it lends. The FHLBNY also closely monitors the quality and value of the assets that are pledged as collateral by its members. The FHLBNY’s members are required to pledge collateral to secure advances. Eligible collateral includes: (1) one-to-four-family and multi-family mortgages; (2) U.S. Treasury and government-agency securities; (3) mortgage-backed securities; and (4) certain other collateral which is real estate related and has a readily ascertainable value, and in which the FHLBNY can perfect a security interest. The FHLBNY has the right to take such steps, as it deems necessary to protect its secured position on outstanding advances, including requiring additional collateral (whether or not such additional collateral would otherwise be eligible to secure a loan; and the provision would benefit the FHLBNY in a scenario when a member defaults). The FHLBNY also has a statutory lien under the FHLBank Act on members’ capital stock, which serves as further collateral for members’ indebtedness to the FHLBNY. Credit Risk. The FHLBNY has policies and procedures in place to manage credit risk. There were no past due advances and all advances were current for all periods in this report. Management does not anticipate any credit losses, and accordingly, the FHLBNY has not provided an allowance for credit losses on advances. Potential credit risk from advances is concentrated in commercial banks, savings institutions, and insurance companies. Concentration of Advances Outstanding. Advances to the FHLBNY’s top ten borrowing member institutions are reported in Note 20. Segment Information and Concentration. The FHLBNY held sufficient collateral to cover the advances to all institutions and it does not expect to incur any credit losses. Advances borrowed by insurance companies accounted for 17.6% and 18.7% of total advances at June 30, 2017 and December 31, 2016. Lending to insurance companies poses a number of unique risks not present in lending to federally insured depository institutions. For example, there is no single federal regulator for insurance companies. They are supervised by state regulators and subject to state insurance codes and regulations. There is uncertainty about whether a state insurance commissioner would try to void the FHLBNY’s claims on collateral in the event of an insurance company failure. As with all members, insurance companies are also required to purchase the FHLBNY’s capital stock as a prerequisite to membership and borrowing activity. The FHLBNY’s management takes a number of steps to mitigate the unique risk of lending to insurance companies. At the time of membership, the FHLBNY requires an insurance company to be highly-rated and to meet the FHLBNY’s credit quality standards. The FHLBNY performs quarterly credit analysis of the insurance borrower. The FHLBNY also requires member insurance companies to pledge highly-rated readily marketable securities or mortgage collateral which are held in the FHLBNY’s custody or by our third party custodian. Such collateral must meet the FHLBNY’s credit quality standards, with appropriate minimum margins applied. Very high credit quality insurance companies may be allowed to retain possession of the mortgage collateral provided the mortgage collateral is held by a third-party custodian pursuant to a tri-party security agreement. Marketable securities pledged as collateral by the insurance company must be held by the FHLBNY’s third party custodian. Security Terms . The FHLBNY lends to financial institutions involved in housing finance within its district. Borrowing members are required to purchase capital stock of the FHLBNY and pledge collateral for advances. As of June 30, 2017 and December 31, 2016, the FHLBNY had rights to collateral with an estimated value greater than outstanding advances. Based upon the financial condition of the member, the FHLBNY: (1) Allows a member to retain possession of the mortgage collateral pledged to the FHLBNY if the member executes a written security agreement, provides periodic listings and agrees to hold such collateral for the benefit of the FHLBNY; however, securities and cash collateral are always in physical possession; or (2) Requires the member specifically to assign or place physical possession of such mortgage collateral with the FHLBNY or its custodial agent. Beyond these provisions, Section 10(e) of the FHLBank Act affords any security interest granted by a member to the FHLBNY’s priority over the claims or rights of any other party. The two exceptions are claims that would be entitled to priority under otherwise applicable law or perfected security interests. All member obligations with the FHLBNY were fully collateralized throughout their entire term. The total of collateral pledged to the FHLBNY includes excess collateral pledged above the minimum collateral requirements. However, a “Maximum Lendable Value” is established to ensure that the FHLBNY has sufficient eligible collateral securing credit extensions.

Mortgage Loans Held-for-Portfol

Mortgage Loans Held-for-Portfolio.	6 Months Ended
	Jun. 30, 2017
Mortgage Loans Held-for-Portfolio.
Mortgage Loans Held-for-Portfolio.	Note 9. Mortgage Loans Held-for-Portfolio. Mortgage Partnership Finance ® program loans, or (MPF ® ), are the mortgage loans held-for-portfolio. The FHLBNY participates in the MPF program by purchasing and originating conventional mortgage loans from its participating members, hereafter referred to as Participating Financial Institutions (“PFI”). The FHLBNY manages the liquidity, interest rate and prepayment option risk of the MPF loans, while the PFIs retain servicing activities, and may credit-enhance the portion of the loans participated to the FHLBNY. No intermediary trust is involved. The FHLBNY classifies mortgage loans as held for investment, and accordingly reports them at their principal amount outstanding net of unamortized premiums, discounts, and unrealized gains and losses from loans initially classified as mortgage loan commitments. The following table presents information on mortgage loans held-for-portfolio (dollars in thousands): June 30, 2017 December 31, 2016 Amount Percentage Amount Percentage Real Estate (a) : Fixed medium-term single-family mortgages $ % $ % Fixed long-term single-family mortgages Multi-family mortgages — — — Total par value % % Unamortized premiums Unamortized discounts ) ) Basis adjustment (b) Total mortgage loans held-for-portfolio Allowance for credit losses ) ) Total mortgage loans held-for-portfolio, net of allowance for credit losses $ $ (a) Conventional mortgages represent the majority of mortgage loans held-for-portfolio, with the remainder invested in FHA and VA insured loans (also referred to as government loans). (b) Balances represent unamortized fair value basis of closed delivery commitments. A basis adjustment is recorded at the settlement of the loan and it represents the difference in trade price paid for acquiring the loan and the price at the settlement date for a similar loan. The basis adjustment is amortized as a yield adjustment to Interest income. The FHLBNY and its members share the credit risk of MPF loans by structuring potential credit losses into layers. The first layer is typically 100 bps, but this varies with the particular MPF product. The amount of the first layer, or First Loss Account (“FLA”), was estimated at $32.1 million and $30.9 million at June 30, 2017 and December 31, 2016. The FLA is not recorded or reported as a reserve for loan losses, as it serves as a memorandum or information account. The FHLBNY is responsible for absorbing the first layer. The second layer is that amount of credit obligations that the PFI has agreed to assume at the “Master Commitment” level. The FHLBNY pays a credit enhancement fee to the PFI for taking on this obligation. The FHLBNY assumes all residual risk. Credit enhancement fees accrued were $0.6 million and $1.2 million for the three and six months ended June 30, 2017, compared to $0.6 million and $1.1 million for the same periods in the prior year. These fees were reported as a reduction to mortgage loan interest income. In terms of the credit enhancement waterfall, the MPF program structures potential credit losses on conventional MPF loans into layers on each loan pool as follows: (1) The first layer of protection against loss is the liquidation value of the real property securing the loan. (2) The next layer of protection comes from the primary mortgage insurance (“PMI”) that is required for loans with a loan-to-value ratio greater than 80% at origination. (3) Losses that exceed the liquidation value of the real property and any PMI will be absorbed by the FHLBNY, limited to the amount of the FLA available under the Master Commitment. For certain MPF products, the FHLBNY could recover previously absorbed losses by withholding future credit enhancement fees (“CE Fees”) otherwise payable to the PFI, and applying the amounts to recover losses previously absorbed. In effect, the FHLBNY may recover losses allocated to the FLA from CE Fees. The amount of CE Fees depends on the MPF product and the outstanding balances of loans funded in the Master Commitment. CE Fees payable (and potentially available for loss recovery) will decline as the outstanding loan balances in the Master Commitment declines. (4) The second layer or portion of credit losses is incurred by the PFI and/or the Supplemental Mortgage Insurance (“SMI”) provider as follows: The PFI absorbs losses in excess of any FLA up to the amount of the PFI’s credit obligation amount and/or to the SMI provider for MPF 125 Plus products if the PFI has selected SMI coverage. (5) The third layer of losses is absorbed by the FHLBNY. Allowance Methodology for Loan Losses Allowance Policy — Mortgage loans are considered impaired when, based on current information and events, it is probable that the FHLBNY will be unable to collect all principal and interest amounts due according to the contractual terms of the mortgage loan agreements. The FHLBNY considers the occurrence of serious delinquency as a primary confirming event of a credit loss. Bankruptcy and foreclosures are also considered as confirming events. When a loan is seriously delinquent, or in bankruptcy or in foreclosure, the FHLBNY measures estimated credit losses on an individual loan basis by looking to the value of the real property collateral. For such loans, the FHLBNY believes it is probable that we will be unable to collect all contractual interest and principal in accordance with the terms of the loan agreement. For loans that have not been individually measured for estimated credit losses (i.e. they are not seriously delinquent, or in bankruptcy or in foreclosure), the FHLBNY measures estimated incurred credit losses on a collective basis and records a valuation reserve. When a loan is delinquent 180 days or more, the FHLBNY will charge off the excess carrying value over the net realizable value of the loan because the FHLBNY deems that foreclosure is probable at 180 days delinquency. When the loan is foreclosed and the FHLBNY takes possession of real estate, the balance of the loan that has not been charged off is recorded as real estate owned at the lower of carrying value or net realizable value. Periodic review — The FHLBNY performs periodic reviews of impaired mortgage loans within the MPF loan portfolio to identify the potential for credit losses inherent in the impaired loan to determine the likelihood of collection of the principal and interest. We utilize an allowance for credit losses to reserve for estimated losses in our conventional mortgage loan portfolio (uninsured MPF loans). The measurement of our allowance for credit losses is determined by (i) reviewing certain conventional mortgage loans for impairment on an individual basis, (ii) reviewing remaining conventional mortgage loans (not individually assessed) on a collective basis, and (iii) reviewing government insured loans (FHA- and VA-insured MPF loans) on a collective basis. We compute the provision for credit losses without considering the private mortgage insurance and other accompanying credit enhancement features that provide credit assurance to the FHLBNY. · Individually evaluated conventional mortgage loans — We evaluate impaired conventional mortgage loans for impairment individually. A conventional mortgage loan is considered impaired when, based on current information and events, it is probable that we will be unable to collect all amounts due according to the contractual terms of the loan agreement. The primary credit quality indicator that we use in evaluating impairment on mortgage loans includes a serious delinquency rate — MPF loans that are 90 days or more past due, in bankruptcy, or in the process of foreclosure. We also individually measure credit losses on loans that are restructured in a troubled debt restructuring involving a modification of terms. Loans discharged under Chapter 7 bankruptcy are considered TDR, and are individually measured for credit losses when seriously delinquent. We measure estimated credit impairment based on the estimated fair value of the underlying collateral, which is determined using property values, less selling costs. · Collectively evaluated conventional mortgage loans — We collectively evaluate the majority of our conventional mortgage loan portfolio for impairment (excluding those individually evaluated), and estimate an allowance for credit losses based primarily upon the following factors: (i) loan delinquencies, and (ii) actual historical loss severities. We utilize a roll-rate methodology when estimating allowance for credit losses. This methodology projects loans migrating to charge off status (180 days delinquency) based on historical average rates of delinquency. We then apply a loss severity factor to calculate an estimate of credit losses. · Collectively evaluated government insured loans — The FHLBNY invests in government-insured mortgage loans that are insured or guaranteed by the Federal Housing Administration, the Department of Veterans Affairs, and/or the Rural Housing Service of the Department of Agriculture. The servicer or PFI obtains and maintains insurance or a guaranty from the applicable government agency. The servicer or PFI is responsible for compliance with all government agency requirements and for obtaining the benefit of the applicable guarantee or insurance with respect to defaulted government-insured mortgage loans. Any losses incurred on these loans that are not recovered from the insurer/guarantor are absorbed by the servicers. The FHLBNY’s credit risk for these loans is if the servicer or PFI fails to pay for losses not covered by the guarantee or insurance. We evaluate the credit worthiness of our member, the PFI. Classes of the MPF loan portfolio would be subject to disaggregation to the extent that it is needed to understand the exposure to credit risk arising from these loans. The FHLBNY has determined that no further disaggregation of portfolio segments is needed other than the methodology discussed above. Credit Enhancement Fees The credit enhancement fee (“CE fees”) due to the PFI for taking on a credit enhancement obligation is accrued based on the master commitments outstanding. For certain MPF products, the CE fees are held back for 12 months and then paid monthly to the PFIs. Under the MPF agreements with PFIs, the FHLBNY may recover credit losses from future CE fees. The FHLBNY does not consider CE fees when computing the allowance for credit losses. It is assumed that repayment is expected to be provided solely by the sale of the underlying property, and there is no other available and reliable source of repayment. If losses were incurred, the FHLBNY would withhold CE fee payments to the PFI associated with the loan that is in a loss position. The amount withheld would be commensurate with the credit loss and the loss layer for which the PFI has assumed the credit enhancement responsibility. The FHLBNY’s loss experience has been insignificant and amounts of CE fees withheld have been insignificant in all periods in this report. Allowance for Credit Losses Allowances for credit losses have been recorded against the uninsured MPF loans. All other types of mortgage loans were insignificant and no allowances were necessary. The following table provides a rollforward analysis of the allowance for credit losses (in thousands): Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Allowance for credit losses: Beginning balance $ $ $ $ Charge-offs ) ) ) ) Provision/(Reversal) for credit losses on mortgage loans ) Ending balance $ $ $ $ June 30, 2017 December 31, 2016 Ending balance, individually evaluated for impairment $ $ Ending balance, collectively evaluated for impairment Total Allowance for credit losses $ $ Mortgage Loans — Non-performing Loans The FHLBNY’s total MPF loans and impaired MPF loans were as follows (UPB, in thousands): June 30, 2017 December 31, 2016 Total Mortgage loans, net of allowance for credit losses (a) $ $ Non-performing mortgage loans - Conventional (a)(b) $ $ Insured MPF loans past due 90 days or more and still accruing interest (a)(b) $ $ (a) Includes loans classified as special mention, sub-standard, doubtful or loss under regulatory criteria, net of amounts charged-off if delinquent for 180 days or more. (b) Data in this table represents unpaid principal balance, and would not agree to data reported in other tables at “recorded investment,” which includes interest receivable. Mortgage Loans — Interest on Non-performing Loans The table summarizes interest income that was not recognized in earnings. It also summarizes the actual cash that was received against interest due, but not recognized (in thousands): Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Interest contractually due (a) $ $ $ $ Interest actually received Shortfall $ $ $ $ (a) Represents the amount of interest accrual on non-accrual conventional loans that were not recorded as income. When interest is received on non-accrual loans, cash received is recorded as a liability as the FHLBNY considers such amounts received as an advance from servicers that would be subject to repayment at foreclosure; the cash received remains in Other liabilities until legal determination is made at foreclosure. For more information about the FHLBNY’s policy on non-accrual loans, see financial statements, Note 1. Significant Accounting Policies and Estimates in our most recent Form 10-K filed on March 22, 2017. The following summarizes the recorded investment in impaired loans (excluding insured FHA/VA loans), the unpaid principal balance, and the related allowance (individually assessed), and the average recorded investment of loans for which the related allowance was individually measured (in thousands): Three months ended Six months ended June 30, 2017 June 30, 2017 June 30, 2017 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment (d) Conventional MPF Loans (a)(c) No related allowance (b) $ $ $ — $ $ With a related allowance Total individually measured for impairment $ $ $ $ $ December 31, 2016 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment (d) Conventional MPF Loans (a)(c) No related allowance (b) $ $ $ — $ With a related allowance Total individually measured for impairment $ $ $ $ (a) Based on analysis of the nature of risks of the FHLBNY’s investments in MPF loans, including its methodologies for identifying and measuring impairment, management has determined that presenting such loans as a single class is appropriate. (b) Collateral values, net of estimated costs to sell, exceeded the recorded investments in impaired loans and no allowances were deemed necessary. (c) Interest received is not recorded as Interest income if an uninsured loan is past due 90 days or more. Cash received is recorded as a liability on the assumption that cash was remitted by the servicer to the FHLBNY that could potentially be recouped by the borrower in a foreclosure. (d) Represents the average recorded investment for the three and six months ended June 30, 2017 and the twelve months ended December 31, 2016. The following tables summarize the recorded investment, the unpaid principal balance, and the average recorded investment of loans for which the related allowance was collectively measured (in thousands): Three months ended Six months ended June 30, 2017 June 30, 2017 June 30, 2017 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment (a) Collectively measured for impairment Insured loans $ $ $ — $ $ Uninsured loans Total loans collectively measured for impairment $ $ $ $ $ December 31, 2016 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment (a) Collectively measured for impairment Insured loans $ $ $ — $ Uninsured loans Total loans collectively measured for impairment $ $ $ $ (a) Represents the average recorded investment for the three and six months ended June 30, 2017 and the twelve months ended December 31, 2016. Recorded investments in MPF loans that were past due, and real estate owned are summarized below. Recorded investment, which includes accrued interest receivable, would not equal carrying values reported elsewhere (dollars in thousands): June 30, 2017 December 31, 2016 Conventional Insured Other Conventional Insured Other MPF Loans Loans Loans MPF Loans Loans Loans Mortgage loans: Past due 30 - 59 days $ $ $ — $ $ $ — Past due 60 - 89 days — — Past due 90 - 179 days — — Past due 180 days or more — — Total past due — — Total current loans — Total mortgage loans $ $ $ — $ $ $ Other delinquency statistics: Loans in process of foreclosure, included above $ $ $ — $ $ $ — Number of foreclosures outstanding at period end — — Serious delinquency rate (a) % % — % % % — % Serious delinquent loans total used in calculation of serious delinquency rate $ $ $ — $ $ $ — Past due 90 days or more and still accruing interest $ — $ $ — $ — $ $ — Loans on non-accrual status $ $ — $ — $ $ — $ — Troubled debt restructurings: Loans discharged from bankruptcy (b) $ $ $ — $ $ $ — Modified loans under MPF® program $ $ — $ — $ $ — $ — Real estate owned $ $ (a) Serious delinquency rate is defined as recorded investments in loans that are 90 days or more past due or in the process of foreclosure expressed as a percentage of total loan class. (b) Loans discharged from Chapter 7 bankruptcies are considered as TDRs. Troubled Debt Restructurings (“TDRs”) and MPF Modification Standards . Troubled debt restructuring is considered to have occurred when a concession is granted to a borrower for economic or legal reasons related to the borrower’s financial difficulties and that concession would not have been otherwise considered. The MPF program offers a temporary loan payment modification plan for participating PFIs, which was initially available until December 31, 2011 and has been extended through December 31, 2017. This modification plan was made available to homeowners currently in default or imminent danger of default and only a few MPF loans had been modified under the plan and outstanding at June 30, 2017 and December 31, 2016. Due to the insignificant numbers of loans modified and considered to be a TDR, forgiveness and other information with respect to the modifications have been omitted. Loans modified under this program are considered impaired. The allowance for credit losses on those impaired loans were evaluated individually, and the allowance balances were $0.2 million at June 30, 2017 and December 31, 2016. A loan involved in the MPF modification program is individually evaluated by the FHLBNY for impairment when determining its related allowance for credit losses. A modified loan is considered a TDR until the modified loan is performing to its original terms. The FHLBNY measures all estimated credit losses based on the liquidation value of the real property collateral supporting the impaired loan after deducting costs to liquidate. That value is compared to the carrying value of the impaired mortgage loan, and a shortfall is recorded as an allowance for credit losses. Loans discharged from bankruptcy — The FHLBNY includes MPF loans discharged from Chapter 7 bankruptcy as TDRs; $9.6 million and $9.7 million of such loans were outstanding at June 30, 2017 and December 31, 2016. The FHLBNY has determined that the discharge of mortgage debt in bankruptcy is a concession as defined under existing accounting literature for TDRs. A loan discharged from bankruptcy is assessed for credit impairment only if past due 90 days or more, and $0.7 million were deemed impaired due to their past due delinquency status at June 30, 2017 and December 31, 2016. The allowance for credit losses associated with those loans was immaterial as the loans were well collateralized. The following table summarizes performing and non-performing troubled debt restructurings balances (in thousands): June 30, 2017 December 31, 2016 Recorded Investment Outstanding Performing Non- performing Total TDRs Performing Non- performing Total TDRs Troubled debt restructurings (TDRs) (a)(b) : Loans discharged from bankruptcy $ $ $ $ $ $ Modified loans under MPF ® program Total troubled debt restructurings $ $ $ $ $ $ Related Allowance $ $ (a) Insured loans were not included in the calculation for troubled debt restructuring. (b) Loans discharged from Chapter 7 bankruptcy are also considered as TDRs.

Deposits.

Deposits.	6 Months Ended
	Jun. 30, 2017
Deposits.
Deposits.	Note 10. Deposits. The FHLBNY accepts demand, overnight and term deposits from its members. Also, a member that services mortgage loans may deposit funds collected in connection with the mortgage loans as a pending disbursement to the owners of the mortgage loans. The following table summarizes deposits (in thousands): June 30, 2017 December 31, 2016 Interest-bearing deposits Interest-bearing demand $ $ Term (a) Total interest-bearing deposits Non-interest-bearing demand Total deposits (b) $ $ (a) Term deposits were for periods of one year or less. (b) Specific disclosures about deposits that exceed FDIC limits have been omitted as deposits are not insured by the FDIC. Deposits are received in the ordinary course of the FHLBNY’s business. The FHLBNY has pledged securities to the FDIC to collateralize deposits maintained at the FHLBNY by the FDIC; for more information, see Securities Pledged in Note 7. Held-to-Maturity Securities. Interest rate payment terms for deposits are summarized below (dollars in thousands): June 30, 2017 December 31, 2016 Amount Weighted (b) Amount Weighted (b) Due in one year or less Interest-bearing deposits (a) $ % $ % Non-interest-bearing deposits Total deposits $ $ (a) Primarily adjustable rate; weighted average interest rates were for the periods in this table. (b) The weighted average interest rate is calculated based on the average balance.

Consolidated Obligations.

Consolidated Obligations.	6 Months Ended
	Jun. 30, 2017
Consolidated Obligations.
Consolidated Obligations.	Note 11. Consolidated Obligations. Consolidated obligations are the joint and several obligations of the FHLBanks, and consist of bonds and discount notes. The FHLBanks issue consolidated obligations through the Office of Finance as their fiscal agent. In connection with each debt issuance, a FHLBank specifies the amount of debt it wants issued on its behalf. The Office of Finance tracks the amount of debt issued on behalf of each FHLBank. Each FHLBank separately tracks and records as a liability for its specific portion of consolidated obligations for which it is the primary obligor. Consolidated bonds are issued primarily to raise intermediate- and long-term funds for the FHLBanks and are not subject to any statutory or regulatory limits on maturity. Consolidated discount notes are issued primarily to raise short-term funds. Discount notes sell at less than their face amount and are redeemed at par value when they mature. The Finance Agency, at its discretion, may require any FHLBank to make principal or interest payments due on any consolidated obligations. Although it has never occurred, to the extent that a FHLBank would make a payment on a consolidated obligation on behalf of another FHLBank, the paying FHLBank would be entitled to reimbursement from the non-complying FHLBank. However, if the Finance Agency determines that the non-complying FHLBank is unable to satisfy its obligations, then the Finance Agency may allocate the outstanding liability among the remaining FHLBanks on a pro rata basis in proportion to each FHLBank’s participation in all consolidated obligations outstanding, or on any other basis the Finance Agency may determine. Based on management’s review, the FHLBNY has no reason to record actual or contingent liabilities with respect to the occurrence of events or circumstances that would require the FHLBNY to assume an obligation on behalf of other FHLBanks. The par amounts of the FHLBanks’ outstanding consolidated obligations, including consolidated obligations held by other FHLBanks, were approximately $1.0 trillion as of June 30, 2017 and December 31, 2016. Finance Agency regulations require the FHLBanks to maintain, in the aggregate, unpledged qualifying assets equal to the consolidated obligations outstanding. Qualifying assets are defined as cash; secured advances; obligations, participations, mortgages, or other securities of or issued by the United States or an agency of the United States; and securities in which fiduciary and trust funds may invest under the laws of the state in which the FHLBank is located. The FHLBNY met the qualifying unpledged asset requirements as follows: June 30, 2017 December 31, 2016 Percentage of unpledged qualifying assets to consolidated obligations % % The following table summarizes consolidated obligations issued by the FHLBNY and outstanding at June 30, 2017 and December 31, 2016 (in thousands): June 30, 2017 December 31, 2016 Consolidated obligation bonds-amortized cost $ $ Hedge valuation basis adjustments (a) Hedge basis adjustments on terminated hedges (b) FVO (c) - valuation adjustments and accrued interest Total Consolidated obligation bonds $ $ Discount notes-amortized cost $ $ FVO (c) - valuation adjustments and remaining accretion Total Consolidated obligation discount notes $ $ (a) Hedge valuation basis adjustments represent changes in the fair values due to changes in LIBOR on fixed-rate bonds in a Fair value hedge. (b) Hedge basis adjustments on terminated hedges represent the unamortized balances of valuation basis of fixed-rate bonds that were previously in a qualifying hedge relationship. The valuation basis at the time of hedge termination is amortized as a yield adjustment through Interest expense. (c) Valuation adjustments represent changes in the entire fair values of bonds and discount notes elected under the FVO. Redemption Terms of Consolidated Obligation Bonds The following table is a summary of consolidated obligation bonds outstanding by year of maturity (dollars in thousands): June 30, 2017 December 31, 2016 Weighted Weighted Average Percentage Average Percentage Maturity Amount Rate (a) of Total Amount Rate (a) of Total One year or less $ % % $ % % Over one year through two years Over two years through three years Over three years through four years Over four years through five years Thereafter Total par value % % % % Bond premiums (b) Bond discounts (b) ) ) Hedge valuation basis adjustments (c) Hedge basis adjustments on terminated hedges (d) FVO (e) - valuation adjustments and accrued interest Total Consolidated obligation-bonds $ $ (a) Weighted average rate represents the weighted average contractual coupons of bonds, unadjusted for swaps. (b) Amortization of bond premiums and discounts resulted in net reduction of Interest expense by $5.2 million and $10.1 million for the three and six months ended June 30, 2017, compared to $3.5 million and $7.1 million for the same periods in the prior year. (c) Hedge valuation basis adjustments represent changes in the fair values due to changes in LIBOR on fixed-rate bonds in a Fair value hedge. (d) Hedge basis adjustments on terminated hedges represent the unamortized balances of valuation basis of fixed-rate bonds that were previously in a fair value hedging relationship. Generally, when a hedging relationship is de-designated, the valuation basis is no longer adjusted for changes in the valuation of the debt for changes in the benchmark rate; instead, the basis is amortized over the debt’s remaining life, so that at its maturity, the unamortized basis is reversed to zero. The unamortized basis was $137.6 million and $140.3 million at June 30, 2017 and December 31, 2016. Amortization of hedge basis adjustments was recorded as a yield adjustment, which reduced Interest expenses by $1.4 million and $2.9 million for the three and six months ended June 30, 2017, compared to $1.5 million and $2.9 million for the same periods in the prior year. (e) Valuation adjustments represent changes in the entire fair values of bonds elected under the FVO. Interest Rate Payment Terms The following table summarizes types of bonds issued and outstanding (dollars in thousands): June 30, 2017 December 31, 2016 Amount Percentage Amount Percentage Fixed-rate, non-callable $ % $ % Fixed-rate, callable Step Up, callable Single-index floating rate Total par value % % Bond premiums Bond discounts ) ) Hedge valuation basis adjustments (a) Hedge basis adjustments on terminated hedges (b) FVO (c) - valuation adjustments and accrued interest Total Consolidated obligation-bonds $ $ (a) Hedge valuation basis adjustments represent changes in the fair values due to changes in LIBOR on fixed-rate bonds in a Fair value hedge. (b) Hedge basis adjustments on terminated hedges represent the unamortized balances of valuation basis of fixed-rate bonds that were previously in a hedging relationship. (c) Valuation adjustments represent changes in the entire fair values of bonds elected under the FVO. Discount Notes Consolidated obligation discount notes are issued to raise short-term funds. Discount notes are consolidated obligations with original maturities of up to one year. These notes are issued at less than their face amount and redeemed at par when they mature. The FHLBNY’s outstanding consolidated obligation discount notes were as follows (dollars in thousands): June 30, 2017 December 31, 2016 Par value $ $ Amortized cost $ $ FVO (a) - valuation adjustments and remaining accretion Total discount notes $ $ Weighted average interest rate % % (a) Valuation adjustments represent changes in the entire fair values of discount notes elected under the FVO.

Affordable Housing Program.

Affordable Housing Program.	6 Months Ended
	Jun. 30, 2017
Affordable Housing Program.
Affordable Housing Program.	Note 12. Affordable Housing Program. For more information about the Affordable Housing Program and the Bank’s liability, see the Bank’s most recent Form 10-K filed on March 22, 2017. The following table provides rollforward information with respect to changes in Affordable Housing Program liabilities (in thousands): Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Beginning balance $ $ $ $ Additions from current period’s assessments Net disbursements for grants and programs ) ) ) ) Ending balance $ $ $ $

Capital Stock, Mandatorily Rede

Capital Stock, Mandatorily Redeemable Capital Stock and Restricted Retained Earnings.	6 Months Ended
	Jun. 30, 2017
Capital Stock, Mandatorily Redeemable Capital Stock and Restricted Retained Earnings.
Capital Stock, Mandatorily Redeemable Capital Stock and Restricted Retained Earnings.	Note 13. Capital Stock, Mandatorily Redeemable Capital Stock and Restricted Retained Earnings. The FHLBanks, including the FHLBNY, have a cooperative structure. To access the FHLBNY’s products and services, a financial institution must be approved for membership and purchase capital stock in the FHLBNY. A member’s stock requirement is generally based on its use of FHLBNY products, subject to a minimum membership requirement as prescribed by the FHLBank Act and the FHLBNY’s Capital Plan. FHLBNY stock can be issued, exchanged, redeemed and repurchased only at its stated par value of $100 per share. It is not publicly traded. An option to redeem capital stock that is greater than a member’s minimum requirement is held by both the member and the FHLBNY. The FHLBNY’s Capital Plan offers two sub-classes of Class B capital stock, membership and activity-based capital stock. Membership stock is issued to meet membership stock purchase requirements. The FHLBNY requires member institutions to maintain membership stock based on a percentage of the member’s mortgage-related assets. Activity based stock is issued on a percentage of outstanding balances of advances, MPF loans and certain commitments. Membership and Activity-based Class B capital stock have the same voting rights and dividend rates. Members can redeem Class B stock by giving five years notice. The FHLBNY’s capital plan does not provide for the issuance of Class A capital stock. The FHLBNY is subject to risk-based capital rules. Specifically, the FHLBNY is subject to three capital requirements under its capital plan. First, the FHLBNY must maintain at all times permanent capital in an amount at least equal to the sum of its credit risk, market risk, and operations risk capital requirements as calculated in accordance with the FHLBNY policy, and rules and regulations of the Finance Agency. Only permanent capital, defined as Class B stock and retained earnings, satisfies this risk-based capital requirement. The Finance Agency may require the FHLBNY to maintain an amount of permanent capital greater than what is required by the risk-based capital requirements. In addition, the FHLBNY is required to maintain at least a 4.0% total capital-to-asset ratio and at least a 5.0% leverage ratio at all times. The FHFA’s regulatory leverage ratio is defined as the sum of permanent capital weighted 1.5 times and non-permanent capital weighted 1.0 times divided by total assets. The FHLBNY was in compliance with the aforementioned capital rules and requirements for all periods presented, and met the “adequately capitalized” classification, which is the highest rating, under the capital rule. However, the Finance Agency has discretion to reclassify a FHLBank and to modify or add to the corrective action requirements for a particular capital classification. If the FHLBNY became classified into a capital classification other than adequately capitalized, the Bank could be adversely impacted by the corrective action requirements for that capital classification. For more information about the capital rules under the Finance Agency regulations, see Note 13. Capital Stock, Mandatorily Redeemable Capital Stock and Restricted Retained Earnings in the audited financial statements included in our most recent Form 10-K filed on March 22, 2017. Risk-based Capital — The following table summarizes the FHLBNY’s risk-based capital ratios (dollars in thousands): June 30, 2017 December 31, 2016 Required (d) Actual Required (d) Actual Regulatory capital requirements: Risk-based capital (a)(e) $ $ $ $ Total capital-to-asset ratio % % % % Total capital (b) $ $ $ $ Leverage ratio % % % % Leverage capital (c ) $ $ $ $ (a) Actual “Risk-based capital” is capital stock and retained earnings plus mandatorily redeemable capital stock. Section 932.2 of the Finance Agency’s regulations also refers to this amount as “Permanent Capital.” (b) Required “Total capital” is 4.0% of total assets. (c) A leverage ratio of total capital to total assets of at least 5.0%. For the purposes of determining the leverage ratio, total capital shall be computed by multiplying the Bank’s Permanent Capital by 1.5. (d) Required minimum. (e) Under regulatory guidelines issued by the Finance Agency in August 2011 that was consistent with guidance provided by other federal banking agencies with respect to capital rules, risk weights are maintained at AAA for Treasury securities and other securities issued or guaranteed by the U.S. Government, government agencies, and government-sponsored entities for purposes of calculating risk-based capital. Mandatorily Redeemable Capital Stock Generally, the FHLBNY’s capital stock is redeemable at the option of either the member or the FHLBNY subject to certain conditions, including the provisions under the accounting guidance for certain financial instruments with characteristics of both liabilities and equity. In accordance with the accounting guidance, the FHLBNY generally reclassifies the stock subject to redemption from equity to a liability once a member irrevocably exercises a written redemption right, gives notice of intent to withdraw from membership, or attains non-member status by merger or acquisition, charter termination, or involuntary termination from membership. Under such circumstances, the member shares will then meet the definition of a mandatorily redeemable financial instrument. Estimated redemption periods were as follows (in thousands): June 30, 2017 December 31, 2016 Redemption less than one year $ $ Redemption from one year to less than three years Redemption from three years to less than five years Redemption from five years or greater Total $ $ The following table provides rollforward information with respect to changes in mandatorily redeemable capital stock liabilities (in thousands): Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Beginning balance $ $ $ $ Capital stock subject to mandatory redemption reclassified from equity Redemption of mandatorily redeemable capital stock (a) ) ) ) ) Ending balance $ $ $ $ Accrued interest payable (b) $ $ $ $ (a) Redemption includes repayment of excess stock. (b) The annualized accrual rate was 5.00% for the three months ended June 30, 2017 and 4.50% for the three months ended June 30, 2016. Accrual rates are based on estimated dividend rates. Restricted Retained Earnings Under the FHLBank Joint Capital Enhancement Agreement (“Capital Agreement”), each FHLBank is required to set aside 20% of its Net income each quarter to a restricted retained earnings account until the balance of that account equals at least one percent of that FHLBank’s average balance of outstanding consolidated obligations. The Capital Agreement is intended to enhance the capital position of each FHLBank. These restricted retained earnings will not be available to pay dividends. Retained earnings included $423.4 million and $383.3 million as restricted retained earnings in the FHLBNY’s Total Capital at June 30, 2017 and December 31, 2016.

Earnings Per Share of Capital.

Earnings Per Share of Capital.	6 Months Ended
	Jun. 30, 2017
Earnings Per Share of Capital.
Earnings Per Share of Capital.	Note 14. Earnings Per Share of Capital. The following table sets forth the computation of earnings per share. Basic and diluted earnings per share of capital are the same. The FHLBNY has no dilutive potential common shares or other common stock equivalents (dollars in thousands except per share amounts): Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Net income $ $ $ $ Net income available to stockholders $ $ $ $ Weighted average shares of capital Less: Mandatorily redeemable capital stock ) ) ) ) Average number of shares of capital used to calculate earnings per share Basic earnings per share $ $ $ $

Employee Retirement Plans.

Employee Retirement Plans.	6 Months Ended
	Jun. 30, 2017
Employee Retirement Plans.
Employee Retirement Plans.	Note 15. Employee Retirement Plans. The FHLBNY participates in the Pentegra Defined Benefit Plan for Financial Institutions (“Pentegra DB Plan”), a tax-qualified, defined-benefit multiemployer pension plan that covers all officers and employees of the Bank. The Bank also participates in the Pentegra Defined Contribution Plan for Financial Institutions, a tax-qualified defined contribution plan. In addition, the FHLBNY maintains two non-qualified Benefit Equalization Plans (“BEP”) that restore defined benefits for those employees who have had their qualified Defined Benefit Plan and their Defined Contribution Plan limited by IRS regulations. The BEP that restores benefits to participant’s Defined Contribution Plan is new and was effective at January 1, 2017. The non-qualified BEP plans are unfunded. For more information about employee retirement plans, see Note 15. Employee Retirement Plans in the financial statements included in the most recent Form 10-K filed on March 22, 2017. Retirement Plan Expenses — Summary The following table presents employee retirement plan expenses for the periods ended (in thousands): Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Defined Benefit Plan $ $ $ $ Benefit Equalization Plans (defined benefit and defined contribution) Defined Contribution Plans Postretirement Health Benefit Plan ) ) ) ) Total retirement plan expenses $ $ $ $ Benefit Equalization Plan (BEP) Components of the net periodic pension cost for the defined benefit component of the BEP were as follows (in thousands): Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Service cost $ $ $ $ Interest cost Amortization of unrecognized net loss Amortization of unrecognized past service (credit) — ) — ) Net periodic benefit cost $ $ $ $ Postretirement Health Benefit Plan Components of the net periodic benefit cost for the postretirement health benefit plan were as follows (in thousands): Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Service cost (benefits attributed to service during the period) $ $ $ $ Interest cost on accumulated postretirement health benefit obligation Amortization of loss Amortization of prior service (credit) ) ) ) ) Net periodic postretirement health benefit (income) (a) $ ) $ ) $ ) $ ) (a) Plan amendments in a prior year reduced plan obligations by $8.8 million, and the resulting gain is being amortized over an actuarially determined period, reducing net periodic benefit costs.

Derivatives and Hedging Activit

Derivatives and Hedging Activities.	6 Months Ended
	Jun. 30, 2017
Derivatives and Hedging Activities.
Derivatives and Hedging Activities.	Note 16. Derivatives and Hedging Activities. General — The FHLBNY accounts for its hedging activities in accordance with ASC 815, Derivatives and Hedging (formerly SFAS 133). As a general rule, hedge accounting is permitted where the FHLBNY is exposed to a particular risk, such as interest-rate risk that causes changes in the fair value of an asset or liability or variability in the expected future cash flows of an existing asset, liability or a forecasted transaction that may affect earnings. Derivative contracts hedging the risks associated with the changes in fair value are referred to as Fair value hedges, while contracts hedging the risks affecting the expected future cash flows are called Cash flow hedges. For more information, see Derivatives in Note 1. Significant Accounting Polices and Estimates in the Bank’s most recent Form 10-K filed on March 22, 2017. The FHLBNY, consistent with the Finance Agency’s regulations, may enter into interest-rate swaps, swaptions, and interest-rate cap and floor agreements to manage its interest rate exposure inherent in otherwise unhedged assets and funding positions. We are not a derivatives dealer and do not trade derivatives for short-term profit. We use derivatives in three ways — by designating them as a fair value or cash flow hedge of an underlying financial instrument or a forecasted transaction that qualifies for hedge accounting treatment; by acting as an intermediary; or by designating the derivative as an asset-liability management hedge (i.e. an “economic hedge”). For fair value hedges, in which derivatives hedge the fair values of assets and liabilities, changes in the fair value of derivatives are recorded in Other income in the Statements of Income, together with fair values of the hedged item related to the hedged risk. These amounts are expected to, and generally do, offset each other. For cash flow hedges, in which derivatives hedge the variability of cash flows related to floating- and fixed-rate assets, liabilities or forecasted transactions, the accounting treatment depends on the effectiveness of the hedge. To the extent these derivatives are effective in offsetting the variability of hedged cash flows, the effective portion of the changes in the derivatives’ fair values will not be included in current earnings, but is reported in AOCI. These changes in fair value will be included in earnings of future periods when the hedged cash flows impact earnings. To the extent these cash flows are not effective, changes in their fair values are immediately included in Other income, in the Statements of Income. When designating a derivative in an economic hedge, it is after considering the operational costs and benefits of executing a hedge that would qualify for hedge accounting. When entering into such hedges that do not qualify for hedge accounting, changes in fair value of the derivatives is recorded in earnings with no offsetting fair value adjustments for the hedged asset, liability, or firm commitment. As a result, an economic hedge introduces the potential for earnings variability. Economic hedges are an acceptable hedging strategy under the FHLBNY’s risk management program, and the strategies comply with the Finance Agency’s regulatory requirements prohibiting speculative use of derivatives. Principal hedging activities are summarized below : Consolidated Obligations The FHLBNY may manage the risk arising from changing market prices and volatility of a consolidated obligation debt by matching the cash inflows on the derivative with the cash outflow on the consolidated obligation debt. Fair value hedges — In a typical transaction, fixed-rate consolidated obligations are issued by the FHLBNY and we would concurrently enter into a matching interest rate swap in which the counterparty pays to the FHLBNY fixed cash flows designed to mirror, in timing and amounts, the cash outflows the FHLBNY pays to the holders of the consolidated obligations. When such a transaction qualifies for hedge accounting, it is treated as a “Fair value hedge” under the accounting standards for derivatives and hedging. By electing to use fair value hedge accounting, the carrying value of the debt is adjusted for changes in the benchmark interest rate, with any such changes in fair value recorded in current earnings. The interest-rate swap that hedges the interest rate risk of the debt is also recorded on the balance sheet at fair value, with any changes in fair value reflected in earnings. Cash flow hedges — The FHLBNY also hedges variable cash flows resulting from rollover (re-issuance) of 3-month consolidated obligation discount notes. Variable cash flows from those liabilities are converted to fixed-rate cash flows by entering into receive-variable, pay-fixed interest rate swaps. We also hedge the variability of cash flows of anticipated issuance of fixed-rate debt to changes in the benchmark rate. When such a transaction qualifies for hedge accounting, the hedge is accounted for under the provisions of a “Cash flow hedge”. The interest-rate swaps are recorded at fair values on the balance sheet as a derivative asset or liability, with the offset in AOCI. Changes in fair values of the hedging derivatives are reflected in AOCI to the extent the hedges are effective. Hedge ineffectiveness, if any, is recorded in current earnings. Fair values of swaps in the cash flow hedge programs are reclassified from AOCI to earnings as an interest expense at the same time as when the interest expense from the discount note or the anticipated debt impacts interest expense. Since efforts are made to match the terms of the derivatives to those of the hedged forecasted cash flows as closely as possible, the amount of hedge ineffectiveness is not significant. The two Cash flow strategies are described below: · Cash flow hedges of “Anticipated Consolidated Bond Issuance” — The FHLBNY enters into interest-rate swaps to hedge the anticipated issuance of debt, and to “lock in” the interest to be paid for the cost of funding. The swaps are terminated upon issuance of the debt instrument, and gains or losses upon termination are recorded in AOCI. Gains and losses are reclassified to earnings in the periods in which earnings are affected by the variability of the cash flows of the debt that was issued. · Cash flow hedges of “Rolling Issuance of Discount Notes” — The FHLBNY executes long-term pay-fixed, receive-variable interest rate swaps as hedges of the variable quarterly interest payments on the discount note borrowing program. In this program, we issue a series of discount notes with 91-day terms over periods typically up to 15 years. We will continue issuing new 91-day discount notes over the terms of the swaps as each outstanding discount note matures. The interest rate swaps require a settlement every 91 days, and the variable rate, which is based on the 3-month LIBOR, is reset immediately following each payment. The swaps are expected to eliminate the risk of variability of cash flows for each forecasted discount note issuance every 91 days. The fair values of the interest rate swaps are recorded in AOCI and ineffectiveness, if any, is recorded in earnings. Amounts recorded in AOCI are reclassified to earnings in the same periods in which interest expenses are affected by the variability of the cash flows of the discount notes. Economic hedges of consolidated obligation debt — When we issue variable-rate consolidated obligation bonds indexed to 1-month LIBOR, the U.S. Prime rate, or the Federal funds rate, we will generally execute interest-rate swaps (“basis swaps”) to hedge the basis risk of the variable rate debt to 3-month LIBOR, the FHLBNY’s preferred funding base. The basis swaps are designated as economic hedges of the floating-rate bonds. The choice of an economic hedge is made because the FHLBNY has determined that the operational cost of designating the hedges under accounting standards for derivatives and hedge accounting would outweigh the accounting benefits. In this economic hedge, only the interest rate swap is carried at fair value, with changes in fair values recorded though earnings. Consolidated obligation debt elected under the Fair Value Option — An alternative to hedge accounting, which permits the debt to be carried at the benchmark (LIBOR) fair value, is to elect debt under the FVO. Once the irrevocable election is made upon issuance of the debt, the entire change in fair value of the debt is reported in earnings. We have elected to carry certain fixed-rate consolidated bonds and certain discount notes under the FVO. For more information, see Fair Value Option Disclosures in Note 17. Fair Values of Financial Instruments. Typically, we would also execute interest rate swaps (to convert the fixed-rate cash flows of the FVO debt to variable-rate cash flows), and changes in the fair values of the swaps would also be recorded in earnings, creating a natural offset to the debt’s fair value changes through earnings. The interest rate swap would be designated as an economic hedge of the debt. Advances We offer a wide array of advances structures to meet members’ funding needs. These advances may have maturities up to 30 years with fixed or adjustable rates and may include early termination features or options. We may use derivatives to adjust the repricing and/or options characteristics of advances to more closely match the characteristics of its funding liabilities. Fair value hedges — In general, whenever a member executes a longer-term fixed rate advance, or a fixed or variable-rate advance with call or put or other embedded options, we will simultaneously execute a derivative transaction, generally an interest rate swap, with terms that offset the terms of the fixed rate advance, or terms of the advance with embedded put or call options or other options. When such instruments are conceived, designed and structured, our control procedures require the identification and evaluation of embedded derivatives, as defined under accounting standards for derivatives and hedging activities. When a fixed-rate advance is hedged, the combination of the fixed rate advance and the derivative transaction effectively creates a variable rate asset, indexed to LIBOR. With a putable advance borrowed by a member, we would purchase from the member a put option that is embedded in the advance. We may hedge a putable advance by entering into a cancellable interest rate swap in which we pay to the swap counterparty fixed-rate cash flows, and in return the swap counterparty pays us variable-rate cash flows. The swap counterparty can cancel the swap on the put date, which would normally occur in a rising rate environment, and we can terminate the advance and extend additional credit to the member on new terms. We also offer callable advances to members, which is a fixed-rate advance borrowed by a member. Within the structure of the advance, the FHLBNY sells to the member an embedded call option that enables the member to terminate the advance at pre-determined exercise dates. The call option is embedded in the advance. We hedge such advances by executing interest rate swaps with cancellable option features that would allow us to terminate the swaps also at pre-determined option exercise dates. Advances elected under the Fair Value Option — We have elected to carry certain advances under the FVO. Once the irrevocable election is made upon issuance of the advance, the entire change in fair value of the advance is reported in earnings, and provides a natural economic offset when a consolidated obligation debt is elected under the FVO. Economic hedges of variable rate capped advances — We offer variable rate advances with an embedded option that caps the interest rate payable by the borrower. The FHLBNY would typically offset the risk presented by the embedded cap by executing a matching standalone cap. Mortgage Loans Mortgage loans are fixed-rate MPF loans held-for-portfolio, and the FHLBNY manages the interest rate and prepayment risk associated with mortgages through debt issuance, without the use of derivatives. Firm commitments to purchase or deliver mortgage loans are accounted for as a derivative. Firm Commitment Strategies — Mortgage delivery commitments are considered derivatives under the accounting standards for derivatives and hedging. We account for them as freestanding derivatives, and record the fair values of mortgage loan delivery commitments on the balance sheet with an offset to Other income (loss) as Net realized and unrealized gains (losses) on derivatives and hedging activities. Fair values were not significant for all periods in this report. Member Intermediation To meet the hedging needs of its members, the FHLBNY acts as an intermediary between the members and the other counterparties. This intermediation allows smaller members to access the derivatives market. The derivatives used in intermediary activities do not qualify for hedge accounting, and fair value changes are recorded in earnings. Since the FHLBNY mitigates the fair value exposure of these positions by executing identical offsetting transactions, the net impact in earnings is not significant. The notional principal of interest rate swaps executed as intermediary activity were $184.0 million and $129.0 million at June 30, 2017 and December 31, 2016. The FHLBNY’s exposure with respect to the transactions with members was fully collateralized. Other Economic Hedges The derivatives in economic hedges are considered freestanding and changes in the fair values of the swaps are recorded through income. In general, economic hedges comprised of (1) interest rate caps to hedge balance sheet risk, specifically interest rate risk arising from certain capped floating rate investment securities, (2) interest rate swaps that had previously qualified as hedges under the accounting standards for derivatives and hedging, but had been subsequently de-designated from hedge accounting as they were assessed as being not highly effective hedges, (3) interest rate swaps in economic hedges of advances and debt elected under the FVO, and (4) interest rate swaps in economic hedges of securities in the trading/liquidity portfolio. Credit Risk Due to Non-performance by Counterparties The contractual or notional amount of derivatives reflects the involvement of the FHLBNY in the various classes of financial instruments, and serves as a basis for calculating periodic interest payments or cash flows. Notional amount of a derivative does not measure the credit risk exposure, and the maximum credit exposure is substantially less than the notional amount. The maximum credit risk is the estimated cost of replacing interest-rate swaps, forward agreements, mandatory delivery contracts for mortgage loans and purchased caps and floors (“derivatives”) in a gain position if the counterparty defaults and the related collateral, if any, is of insufficient value to the FHLBNY. Derivatives are instruments that derive their value from underlying asset prices, indices, reference rates and other inputs, or a combination of these factors. The FHLBNY executes derivatives with swap dealers and financial institution swap counterparties as negotiated contracts, which are usually referred to as over-the-counter (“OTC”) derivatives. The majority of OTC derivative contracts at June 30, 2017 and December 31, 2016 were cleared derivatives. The contracts are transacted bilaterally with executing swap counterparties, then cleared and settled through a derivative clearing organizations (“DCOs”) as mandated under the Dodd-Frank Act. When transacting a derivative for clearing, the FHLBNY utilizes a designated clearing agent, the Futures Clearing Merchant (“FCM”) that acts on behalf of the FHLBNY to clear and settle the interest rate exchange transaction through the DCO. Once the transaction is accepted for clearing by the FCM, acting in the capacity of an intermediary between the FHLBNY and the DCO, the original transaction between the FHLBNY and the executing swap counterparty is extinguished, and is replaced by an identical transaction between the FHLBNY and the DCO. The DCO becomes the counterparty to the FHLBNY. However, the FCM remains as the principal operational contact and interacts with the DCO through the life cycle events of the derivative transaction on behalf of the FHLBNY. The FHLBNY also transacts derivative contracts that are executed and settled bilaterally with counterparties, rather than settling the transaction with a DCO. Typically, such bilateral derivative transactions have not yet been mandated for clearing under the Dodd-Frank Act, because the transactions are complex and their ongoing pricing and settlement mechanisms have not yet been operationalized by the DCO. Credit risk on bilateral OTC derivative contracts — For derivatives that are not eligible for clearing with a DCO under the Dodd-Frank Act, the FHLBNY is subject to credit risk as a result of non-performance by swap counterparties to the derivative agreements. The FHLBNY enters into master netting arrangements and bilateral security agreements with all active derivative counterparties that provide for delivery of collateral at specified levels to limit the net unsecured credit exposure to these counterparties. The FHLBNY makes judgments on each counterparty’s creditworthiness, and makes estimates of the collateral values in analyzing counterparty non-performance credit risk. Bilateral agreements consider the credit risks and the agreement specifies thresholds to post or receive collateral with changes in credit ratings. When the FHLBNY has more than one derivative transaction outstanding with the counterparty, and a legally enforceable master netting agreement exists with the counterparty, the net exposure (less collateral held) represents the appropriate measure of credit risk. The FHLBNY conducts all its bilaterally executed derivative transactions under ISDA master netting agreements. Credit risk on OTC cleared derivative transactions — The FHLBNY’s derivative transactions that are eligible for clearing are subject to mandatory clearing rules under the Commodity Futures Trading Commission (“CFTC”) as provided under the Dodd-Frank Act. If a derivative transaction is listed as eligible for clearing, the FHLBNY must abide by the CFTC rules to clear the transaction through a DCO. The FHLBNY’s cleared derivatives are also initially executed bilaterally with a swap dealer (the executing swap counterparty) in the OTC market. The clearing process requires all parties to the derivative transaction to novate the contracts to a DCO, which then becomes the counterparty to all parties, including the FHLBNY, to the transaction. The enforceability of offsetting rights incorporated in the agreements for the cleared derivative transactions has been analyzed by the FHLBNY to establish the extent to which supportive legal opinion, obtained from counsel of recognized standing, provides the requisite level of certainty regarding the enforceability of these agreements. Further analysis was performed to reach a view that the exercise of rights by the non-defaulting party under these agreements would not be stayed, or avoided under applicable law upon an event of default including bankruptcy, insolvency or similar proceeding involving the DCO or the FHLBNY’s clearing agents or both. Based on the analysis of the rules, and legal analysis obtained, the FHLBNY has made a determination that it has the right of setoff that is enforceable under applicable law that would allow it to net individual derivative contracts executed through a specific clearing agent, the FCM, to a designated DCO, so that a net derivative receivable or payable will be recorded for the DCO; that exposure (less margin held) would be represented by a single amount receivable from the DCO, and that amount be the appropriate measure of credit risk. This policy election for netting cleared derivatives is consistent with the policy election for netting bilaterally settled derivative transactions under master netting agreements. For all cleared derivative contracts that have not matured, “Variation margin” is exchanged between the FHLBNY and the FCM, acting as agents on behalf of DCOs. Variation margin is determined by the DCO and fluctuates with the fair values of the open contracts. When the aggregate contract value of open derivatives is in “the money” for the FHLBNY (gain position), the FHLBNY would receive variation margin from the DCO. If the value of the open contracts is “out-of-the-money” (liability position/loss), the FHLBNY would post variation margin to the DCO. Up until December 31, 2016, variation margin was considered to be a collateral for open contracts. Beginning January 1, 2017, legal analysis has concluded that variation margins exchanged with the Chicago Mercantile Exchange (“CME”), a DCO, are considered as the daily settlement values of the derivative contracts itself, and not as collateral. As Variation margin is considered a daily settlement of the fair value of cleared contracts, the amount of the variation margin is a direct reduction of the fair value of the open contract. The FHLBNY is also required to post an “Initial margin” on open derivative contracts to the DCO through an FCM. Initial margin is determined by the DCO and fluctuates with the volatility of the FHLBNY’s portfolio of cleared derivatives; volatility is measured by the speed and severity of market price changes of the portfolio. Initial margin is considered as collateral, which is netted against the fair values of open derivative contracts. Offsetting of Derivative Assets and Derivative Liabilities — Net Presentation The following table presents the gross and net derivatives receivables by contract type and amount for those derivatives contracts for which netting is permissible under U.S. GAAP (“Derivative instruments — Nettable”). Derivatives receivables have been netted with respect to those receivables as to which the netting requirements have been met, including obtaining a legal analysis with respect to the enforceability of the netting. Where such a legal analysis has not been either sought or obtained, the receivables were not netted, and were reported as Derivative instruments — Not Nettable (in thousands): June 30, 2017 December 31, 2016 Derivative Derivative Derivative Derivative Derivative instruments - Nettable Gross recognized amount Bilateral derivatives $ $ $ $ Cleared derivatives Total derivatives fair values Variation Margin ) — — — Total gross recognized amount $ $ $ $ Gross amounts of netting adjustments and cash collateral Bilateral derivatives ) ) ) ) Cleared derivatives ) ) ) ) Total gross amounts of netting adjustments and cash collateral $ ) $ ) $ ) $ ) Net amounts after offsetting adjustments $ $ $ $ Bilateral derivatives $ $ $ $ Cleared derivatives — — Total net amounts after offsetting adjustments - Nettable $ $ $ $ Derivative instruments - Not Nettable Delivery commitments (a) Total derivative assets and total derivative liabilities presented in the Statements of Condition (b) $ $ $ $ Non-cash collateral received or pledged not offset (c) Cannot be sold or repledged Bilateral derivatives $ $ — $ $ — Delivery commitments (a) — — — Total cannot be sold or repledged — — Net unsecured amount Bilateral derivatives Cleared derivatives — — Total net amount (d) $ $ $ $ (a) Derivative instruments without legal right of offset were synthetic derivatives representing forward mortgage delivery commitments of 45 business days or less. Amounts were not material, and it was operationally not practical to separate receivable from payables, and net presentation was adopted. No cash collateral was involved with the mortgage delivery commitments accounted as derivatives. (b) Total net amount represents net unsecured amounts of Derivative assets and liabilities recorded in the Statements of Condition at June 30, 2017 and December 31, 2016. The amounts primarily represent (1) the aggregate credit support thresholds that were waived under ISDA Credit Support and Master netting agreements between the FHLBNY and derivative counterparties for uncleared derivative contracts, and (2) Initial margins posted by the FHLBNY to DCO on cleared derivative transactions. Balances are not netted with non-cash collateral received or pledged, since legal ownership of the non-cash collateral remains with the pledging counterparty (see footnote c below). (c) Non-Cash collateral received or pledged not offset — Bilateral derivative: certain counterparties have pledged U.S. treasury securities to collateralize FHLBNY’s exposure; also includes non-cash collateral on derivative positions with member counterparties where we acted as an intermediary. Amounts are typically collateralized by 1-4 family housing collateral. For information on Delivery commitments, see Note a, above. (d) Represents net exposure after applying non-cash collateral pledged to the FHLBNY. Note — Variation Margin (“VM”) — At June 30, 2017, net amount of $216.2 million posted by a DCO. The amount was classified as the daily settlement value of the cleared contracts and a direct reduction of the fair values. The legal interpretation was adopted prospectively at January 1, 2017. At December 31, 2016, VM was considered collateral and an offset to net exposure. The gross derivative exposure, as represented by derivatives in fair value gain positions for the FHLBNY, before netting and offsetting cash collateral, was $490.8 million (after applying $216.2 million of VM received) at June 30, 2017 and $726.4 million at December 31, 2016. Fair value amounts that were netted as a result of master netting agreements, or as a result of a determination that netting requirements had been met (including obtaining a legal analysis supporting the enforceability of the netting for cleared OTC derivatives), were $146.0 million and $397.6 million at those dates. These netting adjustments included $126.4 million and $354.7 million in cash posted by counterparties to mitigate the FHLBNY’s exposures at June 30, 2017 and December 31, 2016, and the net exposures after offsetting adjustments were $344.9 million and $328.9 million at those dates. Derivative counterparties are also exposed to credit losses resulting from potential non-performance risk of the FHLBNY with respect to derivative contracts, and their exposure, due to a potential default or non-performance by the FHLBNY, is measured by derivatives in a fair value loss position from the FHLBNY’s perspective (and a gain position from the counterparty’s perspective). At June 30, 2017 and December 31, 2016, net fair values of derivatives in unrealized loss positions were $116.9 million and $145.0 million, after deducting $247.8 million and $256.0 million of cash collateral posted to the exposed counterparties. Initial margin posted in cash to the DCOs were in excess of fair value exposures. The FHLBNY and the DCOs were also exposed to the extent of the failure of the FHLBNY to timely deliver VM, which is typically exchanged one day following the execution of a cleared derivative, and that specific exposure was not significant for the FHLBNY at June 30, 2017 and December 31, 2016. The FHLBNY is also exposed to the risk of derivative counterparties failing to return cash collateral on uncleared transactions deposited with counterparties, and Initial margin deposited with DCOs (on cleared transactions) due to counterparty bankruptcy or other similar scenarios. If such an event were to occur, the FHLBNY would be forced to replace derivatives by executing similar derivative contracts with other counterparties. To the extent that the FHLBNY receives cash from the replacement trades that is less than the amount of cash deposited with the defaulting counterparty, the FHLBNY’s cash pledged as a deposit is exposed to credit risk of the defaulting counterparty. Derivative counterparties, including the DCO, holding the FHLBNY’s cash as posted collateral, were analyzed from a credit performance perspective, and based on credit analysis and collateral requirements, the management of the FHLBNY does not anticipate any credit losses on its derivative agreements. Offsetting of Derivative Assets and Derivative Liabilities The following tables represent outstanding notional balances and estimated fair values of the derivatives outstanding at June 30, 2017 and December 31, 2016 (in thousands): June 30, 2017 Notional Amount Derivative Assets Derivative Fair value of derivative instruments (a) Derivatives designated in hedging relationships Interest rate swaps-fair value hedges $ $ $ Interest rate swaps-cash flow hedges Total derivatives in hedging instruments Derivatives not designated as hedging instruments Interest rate swaps Interest rate caps or floors — Mortgage delivery commitments Other (b) Total derivatives not designated as hedging instruments Total derivatives before netting, collateral adjustments and variation margin $ Variation margin ) — Total derivatives before netting and collateral adjustments Netting adjustments and cash collateral (c) ) ) Total derivative assets and liabilities in the Statements of Condition $ $ Security collateral received from counterparty (d) ) Net exposure $ December 31, 2016 Notional Amount Derivative Assets Derivative Fair value of derivative instruments (a) Derivatives designated in hedging relationships Interest rate swaps-fair value hedges $ $ $ Interest rate swaps-cash flow hedges Total derivatives in hedging instruments Derivatives not designated as hedging instruments Interest rate swaps Interest rate caps or floors — Mortgage delivery commitments Other (b) Total derivatives not designated as hedging instruments Total derivatives before netting and collateral adjustments $ Netting adjustments and cash collateral (c) ) ) Net after cash collateral reported on the Statements of Condition $ $ Security collateral received from counterparty (d) ) Net exposure $ (a) All derivative assets and liabilities with swap dealers and counterparties are collateralized; derivative instruments executed bilaterally are subject to legal right of offset under master netting agreements. (b) The Other category comprised of swaps intermediated for member, and notional amounts represent purchases by us from dealers and an offsetting purchase from us by the member. (c) Cash collateral and related accrued interest posted by counterparties to the FHLBNY of $126.4 million and $354.7 million at June 30, 2017 and December 31, 2016 were netted in Netting adjustments in Derivative assets; cash collateral posted by the FHLBNY of $247.8 million and $256.0 million at June 30, 2017 and December 31, 2016 were netted in Netting adjustments in Derivative liabilities. Until December 31, 2016, variation margin on cleared derivatives were accounted as cash collateral and included in the netting adjustments. Beginning January 1, 2017, variation margin exchanged with the CME, a DCO, is considered as a settlement of the fair value of the open derivative contract. (d) At June 30, 2017 and December 31, 2016 counterparties had pledged U.S. government treasury security as collateral. Earnings Impact of Derivatives and Hedging Activities The FHLBNY carries all derivative instruments on the Statements of Condition at fair value as Derivative Assets and Derivative Liabilities. If derivatives meet the hedging criteria under hedge accounting rules, including effectiveness measures, changes in fair value of the associated hedged financial instrument attributable to the risk being hedged (benchmark interest-rate risk, which is LIBOR for the FHLBNY) may also be recorded so that some or all of the unrealized fair value gains or losses recognized on the derivatives are offset by corresponding unrealized gains or losses on the associated hedged financial assets and liabilities. The net differential between fair value changes of the derivatives and the hedged items represents hedge ineffectiveness. The net ineffectiveness from hedges that qualify under hedge accounting rules is recorded as a Net realized and unrealized gain (loss) on derivatives and hedging activities in Other income (loss) in the Statements of Income. If derivatives do not qualify for the hedging criteria under hedge accounting rules, but are executed as economic hedges of financial assets or liabilities under a FHLBNY-approved hedge strategy, only the fair value changes of the derivatives are recorded as a Net realized and unrealized gain (loss) on derivatives and hedging activities in Other income (loss) in the Statements of Income. The FHLBNY has elected to measure

Fair Values of Financial Instru

Fair Values of Financial Instruments.	6 Months Ended
	Jun. 30, 2017
Fair Values of Financial Instruments.
Fair Values of Financial Instruments.	Note 17. Fair Values of Financial Instruments. The fair value amounts recorded on the Statements of Condition or presented in the note disclosures have been determined by the FHLBNY using available market information and best judgment of appropriate valuation methods. Estimated Fair Values — Summary Tables The carrying values, estimated fair values and the levels within the fair value hierarchy were as follows (in thousands): June 30, 2017 Estimated Fair Value Financial Instruments Carrying Value Total Level 1 Level 2 Level 3 (a) Netting Adjustment and Assets Cash and due from banks $ $ $ $ — $ — $ — Securities purchased under agreements to resell — — — Federal funds sold — — — Trading securities — — — Available-for-sale securities — — Held-to-maturity securities — — Advances — — — Mortgage loans held-for-portfolio, net — — — Accrued interest receivable — — — Derivative assets — — ) Other financial assets — — — Liabilities Deposits — — — Consolidated obligations Bonds — — — Discount notes — — — Mandatorily redeemable capital stock — — — Accrued interest payable — — — Derivative liabilities — — ) Other financial liabilities — — — December 31, 2016 Estimated Fair Value Netting Adjustment and Financial Instruments Carrying Value Total Level 1 Level 2 Level 3 (a) Cash Collateral Assets Cash and due from banks $ $ $ $ — $ — $ — Securities purchased under agreements to resell — — — Federal funds sold — — — Trading securities — — — Available-for-sale securities — — Held-to-maturity securities — — Advances — — — Mortgage loans held-for-portfolio, net — — — Loans to other FHLBanks — — — Accrued interest receivable — — — Derivative assets — — ) Other financial assets — — — Liabilities Deposits — — — Consolidated obligations Bonds — — — Discount notes — — — Mandatorily redeemable capital stock — — — Accrued interest payable — — — Derivative liabilities — — ) Other financial liabilities — — — (a) Level 3 Instruments — The fair values of non-Agency private-label MBS and housing finance agency bonds were estimated by management based on pricing services. Valuations may have required pricing services to use significant inputs that were subjective because of the current lack of significant market activity so that the inputs may not be market based and observable. Fair Value Hierarchy The FHLBNY records available-for-sale securities, derivative assets, derivative liabilities, and consolidated obligations and advances elected under the FVO at fair value on a recurring basis. On a non-recurring basis, when held-to-maturity securities are determined to be OTTI, the securities are written down to their fair values, when mortgage loans held-for-portfolio that are written down or are foreclosed as Other real estate owned (“REO” or “OREO”), they are recorded at the fair values of the real estate collateral supporting the mortgage loans. The accounting standards under Fair Value Measurement defines fair value, establishes a consistent framework for measuring fair value and requires disclosures about fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Among other things, the standard requires the FHLBNY to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard specifies a hierarchy of inputs based on whether the inputs are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the FHLBNY’s market assumptions. These two types of inputs have created the following fair value hierarchy, and an entity must disclose the level within the fair value hierarchy in which the measurements are classified for all assets and liabilities measured on a recurring or non-recurring basis: · Level 1 Inputs — Quoted prices (unadjusted) for identical assets or liabilities in an active market that the reporting entity can access on the measurement date. · Level 2 Inputs — Inputs other than quoted prices within Level 1 that are observable inputs for the asset or liability, either directly or indirectly. If the asset or liability has a specified (contractual) term, a Level 2 input must be observable for substantially the full term of the asset or liability. Level 2 inputs include the following: (1) quoted prices for similar assets or liabilities in active markets; (2) quoted prices for identical or similar assets or liabilities in markets that are not active; (3) inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates and yield curves that are observable at commonly quoted intervals, and volatilities). · Level 3 Inputs — Inputs that are unobservable and significant to the valuation of the asset or liability. The inputs are evaluated on an overall level for the fair value measurement to be determined. This overall level is an indication of market observability of the fair value measurement for the asset or liability. Changes in the observability of the valuation inputs may result in a reclassification of certain assets or liabilities. These reclassifications are reported as transfers in/out as of the beginning of the quarter in which the changes occur. There were no such transfers in any periods in this report. The availability of observable inputs can vary from product to product and is affected by a wide variety of factors including, for example, the characteristics peculiar to the transaction. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the FHLBNY in determining fair value is greatest for instruments categorized as Level 3. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes the level in the fair value hierarchy within which the fair value measurement falls is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Summary of Valuation Techniques and Primary Inputs The fair value of a financial instrument that is an asset is defined as the price the FHLBNY would receive to sell the asset in an orderly transaction with market participants. A financial liability’s fair value is defined as the amount that would be paid to transfer the liability to a new obligor, not the amount that would be paid to settle the liability with the creditor. Where available, fair values are based on observable market prices or parameters, or derived from such prices or parameters. Where observable prices are not available, valuation models and inputs are utilized. These valuation techniques involve some level of management estimation and judgment, the degree of which is dependent on the price transparency for the instruments or markets and the instruments’ complexity. Because an active secondary market does not exist for a portion of the FHLBNY’s financial instruments, in certain cases, fair values are not subject to precise quantification or verification and may change as economic and market factors and evaluation of those factors change. The fair values of financial assets and liabilities reported in the tables above are discussed below: Cash and Due from Banks — The estimated fair values approximate the recorded book balances, and are considered to be within Level 1 of the fair value hierarchy. Federal Funds Sold and Securities Purchased under Agreements to Resell — The FHLBNY determines estimated fair values of short-term investments by calculating the present value of expected future cash flows of the investments, a methodology also referred to as the Income approach under the Fair Value Measurement standards. The discount rates used in these calculations are the current coupons of investments with similar terms. Inputs into the cash flow models are the yields on the instruments, which are market based and observable and are considered to be within Level 2 of the fair value hierarchy. Investment Securities — The fair value of investment securities is estimated by the FHLBNY using pricing primarily from pricing services. The pricing vendors typically use market multiples derived from a set of comparables, including matrix pricing, and other techniques. Mortgage-backed securities — The FHLBNY’s valuation technique incorporates prices from up to three designated third-party pricing services at June 30, 2017. Until March 31, 2017, the FHLBNY employed three pricing vendors; one pricing vendor merged into an existing vendor during the second quarter of 2017. The FHLBNY’s base investment pricing methodology establishes a median price for each security using a formula that is based on the number of prices received. If three prices are received, the middle price is used; if two prices are received, the average of the two prices is used; and if one price is received, it is used, typically subject to further validation. Vendor prices that are outside of a defined tolerance threshold of the median price are identified as outliers and subject to additional review, including, but not limited to, comparison to prices provided by an additional third-party valuation service, prices for similar securities, and/or non-binding dealer estimates, or use of internal model prices, which are deemed to be reflective of all relevant facts and circumstances that a market participant would consider. Such analysis is also applied in those limited instances where no third-party vendor price or only one third-party vendor price is available in order to arrive at an estimated fair value. In its analysis, the FHLBNY employs the concept of cluster pricing and cluster tolerances. Once the median prices are computed from the three pricing vendors, the second step is to determine which of the sourced prices fall within the required tolerance level interval to the median price, which forms the “cluster” of prices to be averaged. This average will determine a “default” price for the security. The cluster tolerance guidelines shall be reviewed annually and may be revised as necessary. To be included among the cluster at June 30, 2017 and December 31, 2016, each price must fall within 7 points of the median price for residential PLMBS and within 2 points at June 30, 2017 and December 31, 2016 of the median price for GSE-issued MBS. The final step is to determine the final price of the security based on the cluster average and an evaluation of any outlier prices. If the analysis confirms that an outlier is not representative of fair value and that the average of the vendor prices within the tolerance threshold of the median price is the best estimate, then the average of the vendor prices within the tolerance threshold of the median price is used as the final price. If, on the other hand, an outlier (or some other price identified in the analysis) is determined to be a better estimate of fair value, then the outlier (or the other price as appropriate) is used as the final price. In all cases, the final price is used to determine the fair value of the security. The FHLBNY has also established that the pricing vendors use methods that generally employ, but are not limited to benchmark yields, recent trades, dealer estimates, valuation models, benchmarking of like securities, sector groupings, and/or matrix pricing. To validate vendor prices of PLMBS, the FHLBNY has also adopted a formal process to examine yields as an additional validation method. The FHLBNY calculates an implied yield for each of its PLMBS using estimated fair values derived from cash flows on a bond-by-bond basis. This yield is then compared to the implied yield for comparable securities according to price information from third-party MBS “market surveillance reports”. Significant variances or inconsistencies are evaluated in conjunction with all of the other available pricing information. The objective is to determine whether an adjustment to the fair value estimate is appropriate. Based on the FHLBNY’s review processes, management has concluded that inputs into the pricing models employed by pricing services for the FHLBNY’s investments in GSE securities are market based and observable and are considered to be within Level 2 of the fair value hierarchy. The valuation of the private-label securities, all designated as held-to-maturity, may require pricing services to use significant inputs that are subjective and are considered to be within Level 3 of the fair value hierarchy. This determination was made based on management’s view that the private-label instruments may not have an active market because of the specific vintage of the securities as well as inherent conditions surrounding the trading of private-label MBS, so that the inputs may not be market based and observable. At June 30, 2017 and December 31, 2016, no held-to-maturity private-label MBS was deemed OTTI that would have also required the OTTI security to be written down to its fair value. Housing finance agency bonds — The fair value of housing finance agency bonds is estimated by management using information primarily from pricing services. Because of the current lack of significant market activity, their fair values were categorized within Level 3 of the fair value hierarchy as inputs into vendor pricing models may not be market based and observable. Grantor trust — The FHLBNY has a grantor trust, which invests in money market, equity and fixed income and bond funds. Investments in the trust are classified as AFS. Daily net asset values (“NAVs”) are readily available and investments are redeemable at short notice. NAVs are the fair values of the funds in the grantor trust. Because of the highly liquid nature of the investments at their NAVs, they are categorized as Level 1 financial instruments under the valuation hierarchy. Advances — The fair values of advances are computed using standard option valuation models. The most significant inputs to the valuation model are (1) consolidated obligation debt curve (“CO Curve”), published by the Office of Finance and available to the public, and (2) LIBOR swap curves and volatilities. Both these inputs are considered to be market based and observable as they can be directly corroborated by market participants. The FHLBNY determines the fair values of its advances by calculating the present value of expected future cash flows from the advances, a methodology also referred to as the Income approach under the Fair Value Measurement standards. The discount rates used in these calculations are equivalent to the replacement advance rates for advances with similar terms. In accordance with the Finance Agency’s “Advances” regulations, an advance with a maturity or repricing period greater than six months requires a prepayment fee sufficient to make a FHLBank financially indifferent to the borrower’s decision to prepay the advance. Therefore, the fair value of an advance does not assume prepayment risk. The inputs used to determine fair value of advances are as follows: · CO Curve. The FHLBNY uses the CO Curve, which represents its cost of funds, as an input to estimate the fair value of advances, and to determine current advance rates. This input is considered market observable and therefore a Level 2 input. · Volatility assumption. To estimate the fair value of advances with optionality, the FHLBNY uses market-based expectations of future interest rate volatility implied from current market prices for similar options. This input is considered a Level 2 input as it is market based and market observable. · Spread adjustment. Adjustments represent the FHLBNY’s mark-up based on its pricing strategy. The input is considered as unobservable, and is classified as a Level 3 input. The spread adjustment is not a significant input to the overall fair value of an advance. The FHLBNY creates an internal curve, which is interpolated from its advance rates. Advance rates are calculated by applying a spread to an underlying “base curve” derived from the FHLBNY’s cost of funds, which is based on the CO Curve, inputs to which have been determined to be market observable and classified as Level 2. The spreads applied to the base advance pricing curve typically represent the FHLBNY’s mark-ups over the FHLBNY’s cost of funds, and are not market observable inputs, but are based on the FHLBNY’s advance pricing strategy. Such inputs have been classified as a Level 3 input, and were considered as not significant. To determine the appropriate classification of the overall measurement in the fair value hierarchy of an advance, an analysis of the inputs to the entire fair value measurement was performed at June 30, 2017 and December 31, 2016. If the unobservable spread to the FHLBNY’s cost of funds was not significant to the overall fair value, then the measurement was classified as Level 2. Conversely, if the unobservable spread was significant to the overall fair value, then the measurement would be classified as Level 3. The impact of the unobservable input was calculated as the difference in the value determined by discounting an advance’s cash flows using the FHLBNY’s advance curve and the value determined by discounting an advance’s cash flows using the FHLBNY’s cost of funds curve. Given the relatively small mark-ups over the FHLBNY’s cost of funds, the results of the FHLBNY’s quantitative analysis confirmed the FHLBNY’s expectations that the measurement of the FHLBNY’s advances was Level 2. The unobservable mark-up spreads were not significant to the overall fair value of the instrument. A quantitative threshold for the significance factor has been established at 10%, with additional qualitative factors to be considered if the ratio exceeded the threshold. The FHLBNY has elected the FVO designation for certain advances and recorded their fair values in the Statements of Condition for such advances. The CO Curve was the primary input, which is market based and observable. Inputs to apply spreads, which are FHLBNY specific, were not material. Fair values were classified within Level 2 of the valuation hierarchy. Accrued Interest Receivable and Other Assets — The estimated fair values approximate the recorded book value because of the relatively short period of time between their origination and expected realization. Mortgage Loans (MPF Loans) A. Principal and/or Most Advantageous Market and Market Participants — MPF Loans The FHLBNY may sell mortgage loans to another FHLBank or in the secondary mortgage market. Because transactions between FHLBanks occur infrequently, the FHLBNY has identified the secondary mortgage market as the principal market for mortgage loans under the MPF programs. Also, based on the nature of the supporting collateral to the MPF loans held by FHLBNY, the presentation of a single class for all products within the MPF product types is considered appropriate. As described below, the FHLBNY believes that the market participants within the secondary mortgage market for the MPF portfolio would differ primarily whether qualifying or non-qualifying loans are being sold. Qualifying Loans (unimpaired mortgage loans) — The FHLBNY believes that a market participant is an entity that would buy qualifying mortgage loans for the purpose of securitization and subsequent resale as a security. Other government-sponsored enterprises (“GSEs”), specifically Federal National Mortgage Association (“Fannie Mae”) and Federal Home Loan Mortgage Corporation (“Freddie Mac”), conduct the majority of such activity in the United States, but there are other commercial banks and financial institutions that periodically conduct business in this market. Therefore, the FHLBNY has identified market participants for qualifying loans to include (1) all GSEs, and (2) other commercial banks and financial institutions that are independent of the FHLBank System. Non-qualifying Loans (impaired mortgage loans) — For the FHLBNY, non-qualifying loans are primarily impaired loans. The FHLBNY believes that it is unlikely the GSE market participants would willingly buy loans that did not meet their normal criteria or underwriting standards. However, a market exists with commercial banks and financial institutions other than GSEs where such market participants buy non-qualifying loans in order to securitize them as they become current, resell them in the secondary market, or hold them in their portfolios. Therefore, the FHLBNY has identified the market participants for non-qualifying loans to include other commercial banks and financial institutions that are independent of the FHLBank System. B. Fair Value at Initial Recognition — MPF Loans The FHLBNY believes that the transaction price (entry price) may differ from the fair value (exit price) at initial recognition because it is determined using a different method than subsequent fair value measurements. However, because mortgage loans are not measured at fair value in the balance sheet, day one gains and losses would not be applicable. Additionally, all mortgage loans were performing at the time of origination by the PFI and acquisition by the FHLBNY. The FHLBNY receives an entry price from the FHLBank of Chicago, the MPF Provider, at the time of acquisition. This entry price is based on the TBA rates, as well as exit prices received from market participants, such as Fannie Mae and Freddie Mac. The price is adjusted for specific MPF program characteristics and may be further adjusted by the FHLBNY to accommodate changing market conditions. Because of the adjustments, in many cases the entry price would not equal the exit price at the time of acquisition. C. Valuation Technique, Inputs and Hierarchy The FHLBNY calculates the fair value of the entire mortgage loan portfolio using a valuation technique referred to as the “market approach”. Loans are aggregated into synthetic pass-through securities based on product type, loan origination year, gross coupon and loan term. The fair values are based on TBA rates (or agency commitment rates), as discussed above, adjusted primarily for seasonality. TBA and agency commitment rates are market observable and therefore classified as Level 2 in the fair value hierarchy. However, many of the credit and default risk related inputs involved with the valuation techniques described above may be considered unobservable due to a variety of reasons (e.g., lack of market activity for a particular loan, inherent judgment involved in property estimates). If unobservable inputs are considered significant, the loans would be classified as Level 3 in the fair value hierarchy. At June 30, 2017 and December 31, 2016, fair values were classified within Level 2 of the valuation hierarchy. The fair values of impaired MPF are generally based on collateral values less estimated selling costs. Collateral values are generally based on broker price opinions, and any significant adjustments to apply a haircut value on the underlying collateral value would be considered to be an unobservable Level 3 input. The FHLBNY’s mortgage loan historical loss experience has been insignificant, and expected credit losses are insignificant. Level 3 inputs, if any, are generally insignificant to the total measurement, and therefore the measurement of most loans may be classified as Level 2 in the fair value hierarchy. At June 30, 2017 and December 31, 2016, fair values of credit impaired loans were classified within Level 2 of the valuation hierarchy as significant inputs to value collateral were also considered to be observable. During the six months ended June 30, 2017, certain loans that were delinquent for 180 days or more had been charged-off, and the partially charged off loans were recorded at their fair values of $1.3 million on a non-recurring basis as a Level 2 financial instruments as significant inputs to value collateral were considered to be observable. Consolidated Obligations — The FHLBNY estimates the fair values of consolidated obligations based on the present values of expected future cash flows due on the debt obligations. Calculations are performed by using the FHLBNY’s industry standard option adjusted valuation models. Inputs are based on the cost of comparable term debt. The FHLBNY’s internal valuation models use standard valuation techniques and estimate fair values based on the following inputs: · CO Curve and LIBOR Swap Curve. The Office of Finance constructs an internal curve, referred to as the CO Curve, using the U.S. Treasury Curve as a base curve that is then adjusted by adding indicative spreads obtained from market observable sources. These market indications are generally derived from pricing indications from dealers, historical pricing relationships, recent GSE trades and secondary market activity. The FHLBNY considers the inputs as Level 2 inputs as they are market observable. · Volatility assumption. To estimate the fair values of consolidated obligations with optionality, the FHLBNY uses market-based expectations of future interest rate volatility implied from current market prices for similar options. These inputs are also considered Level 2 as they are market based and observable. The FHLBNY has elected the FVO designation for certain consolidated obligation debt and recorded their fair values in the Statements of Condition. The CO Curve and volatility assumptions (for debt with call options) were primary inputs, which are market based and observable. Fair values were classified within Level 2 of the valuation hierarchy. Derivative Assets and Liabilities — The FHLBNY’s derivatives (cleared derivatives and bilaterally executed derivatives) are executed in the over-the-counter market and are valued using internal valuation techniques as no quoted market prices exist for such instruments. Discounted cash flow analysis is the primary methodology employed by the FHLBNY’s valuation models to measure the fair values of interest rate swaps. The valuation technique is considered as an “Income approach”. Interest rate caps and floors are valued under the “Market approach”. Interest rate swaps and interest rate caps and floors, collectively “derivatives”, were valued in industry-standard option adjusted valuation models, which generated fair values. The valuation models employed multiple market inputs including interest rates, prices and indices to create continuous yield or pricing curves and volatility factors. These multiple market inputs were corroborated by management to independent market data, and to relevant benchmark indices. In addition, derivative valuations were compared by management to counterparty valuations received as part of the collateral exchange process. These derivative positions were classified within Level 2 of the valuation hierarchy at June 30, 2017 and December 31, 2016. The FHLBNY’s valuation model utilizes a modified Black-Karasinski methodology. Significant market based and observable inputs into the valuation model include volatilities and interest rates. The Bank’s valuation model employs industry standard market-observable inputs (inputs that are actively quoted and can be validated to external sources). Inputs by class of derivative were as follows: Interest-rate related: · LIBOR Swap Curve. · Volatility assumption. Market-based expectations of future interest rate volatility implied from current market prices for similar options. · Prepayment assumption (if applicable). · Federal funds curve (OIS curve). Mortgage delivery commitments (considered a derivative): · TBA security prices are adjusted for differences in coupon, average loan rate and seasoning. OIS — The FHLBNY incorporates the overnight indexed swap (“OIS”) curves as fair value measurement inputs for the valuation of its derivatives, as the OIS curves reflect the interest rates paid on cash collateral provided against the fair value of these derivatives. The FHLBNY believes using relevant OIS curves as inputs to determine fair value measurements provides a more representative reflection of the fair values of these collateralized interest-rate related derivatives. The OIS curve (federal funds rate curve) is an input to the valuation model. The input for the federal funds curve is obtained from industry standard pricing vendors and the input is available and observable over its entire term structure. Management considers the federal funds curve to be a Level 2 input. The FHLBNY’s valuation model utilizes industry standard OIS methodology. The model generates forecasted cash flows using the OIS calibrated 3-month LIBOR curve. The model then discounts the cash flows by the OIS curve to generate fair values. Credit risk and credit valuation adjustments — The FHLBNY is subject to credit risk in derivatives transactions due to the potential non-performance of its derivatives counterparties or a DCO. To mitigate this risk, the FHLBNY has entered into master netting agreements and credit support agreements with its derivative counterparties for its bilaterally executed derivative contracts that provide for the delivery of collateral at specified levels at least weekly. The computed fair values of the derivatives took into consideration the effects of legally enforceable master netting agreements that allow the FHLBNY to settle positive and negative positions and offset cash collateral with the same counterparty on a net basis. For derivative transactions executed as a cleared derivative, the transactions are fully collateralized in cash and for the most part exchanged and settled daily with the DCO. The FHLBNY has also established the enforceability of offsetting rights incorporated in the agreements for the cleared derivative transactions. As a result of these practices and agreements and the FHLBNY’s assessment of any change in its own credit spread, the FHLBNY has concluded that the impact of the credit differential between the FHLBNY and its derivative counterparties and DCO was sufficiently mitigated to an immaterial level that no credit adjustments were deemed necessary to the recorded fair value of Derivative assets and Derivative liabilities in the Statements of Condition at June 30, 2017 and December 31, 2016. Deposits — The FHLBNY determines estimated fair values of deposits by calculating the present value of expected future cash flows from the deposits. The discount rates used in these calculations are the current cost of deposits with similar terms. Mandatorily Redeemable Capital Stock — The fair value of capital stock subject to mandatory redemption is generally equal to its par value as indicated by contemporaneous member purchases and sales at par value. Fair value also includes an estimated dividend earned at the time of reclassification from equity to liabilities, until such amount is paid, and any subsequently declared dividend. FHLBank stock can only be acquired and redeemed at par value. FHLBank stock is not traded and no market mechanism exists for the exchange of stock outside the FHLBank System’s cooperative structure. Accrued Interest Payable and Other Liabilities — The estimated fair values approximate the recorded book value because of the relatively short period of time between their origination and expected realization. Control processes — The FHLBNY employs control processes to validate the fair value of its financial instruments, including those derived from valuation models. These control processes are designed to ensure that the values used for financial reporting are based on observable inputs wherever possible. In the event that observable inputs are not available, the control processes are designed to ensure that the valuation approach utilized is appropriate and consistently applied and that the assumptions are reasonable. These control processes include reviews of the pricing model’s theoretical soundness and appropriateness by specialists with relevant expertise who are independent from the trading desks or personnel who were involved in the design and selection of model inputs. Additionally, groups that are independent from the trading desk, or personnel involved in the design and selection of model inputs participate in the review and validation of the fair values generated from the valuation model. The FHLBNY maintains an ongoing review of its valuation models and has a formal model validation policy in addition to procedures for the approval and control of data inputs. The FHLBNY has concluded that valuation models are performing to indust

Commitments and Contingencies.

Commitments and Contingencies.	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies.
Commitments and Contingencies.	Note 18. Commitments and Contingencies. The FHLBanks have joint and several liability for all the consolidated obligations issued on their behalf. Accordingly, should one or more of the FHLBanks be unable to repay their participation in the consolidated obligations, each of the other FHLBanks could be called upon to repay all or part of such obligations, as determined or approved by the Finance Agency. Neither the FHLBNY nor any other FHLBank has ever had to assume or pay the consolidated obligations of another FHLBank. The FHLBNY does not believe that it will be called upon to pay the consolidated obligations of another FHLBank in the future. Under the provisions of accounting standards for guarantees, the FHLBNY would have been required to recognize the fair value of the FHLBNY’s joint and several liability for all the consolidated obligations, as discussed above. However, the FHLBNY considers the joint and several liabilities as similar to a related party guarantee, which meets the scope exception under the accounting standard for guarantees. Accordingly, the FHLBNY has not recognized the fair value of a liability for its joint and several obligations related to other FHLBanks’ consolidated obligations, which in aggregate were par amounts of $1.0 trillion as of June 30, 2017 and December 31, 2016. Standby letters of credit are executed for a fee on behalf of members to facilitate residential housing, community lending, and members’ asset/liability management or to provide liquidity. A standby letter of credit is a financing arrangement between the FHLBNY and its member. Members assume an unconditional obligation to reimburse the FHLBNY for value given by the FHLBNY to the beneficiary under the terms of the standby letter of credit. The FHLBNY may, in its discretion, permit the member to finance repayment of their obligation by receiving a collateralized advance. Outstanding standby letters of credit were approximately $13.4 billion and $12.8 billion as of June 30, 2017 and December 31, 2016, and had original terms of up to 15 years, with a final expiration in 2019. Standby letters of credit are fully collateralized. Unearned fees on standby letters of credit are recorded in Other liabilities, and were $0.9 million and $0.8 million as of June 30, 2017 and December 31, 2016. MPF Program — Under the MPF program, the FHLBNY was unconditionally obligated to purchase $26.7 million and $28.4 million of mortgage loans at June 30, 2017 and December 31, 2016. Commitments were generally for periods not to exceed 45 business days. Such commitments were recorded as derivatives at their fair values in compliance with the provisions of the accounting standards for derivatives and hedging. The FHLBNY also has executed conditional agreements with its members in the MPF program to purchase $0.8 billion and $1.0 billion of mortgage loans at June 30, 2017 and December 31, 2016. Advances to members — No members had conditional agreements at either June 30, 2017 or December 31, 2016 to borrow through advances with the FHLBNY. Derivative contracts · When the FHLBNY executes derivatives that are not eligible to be cleared under the CFTC rules, the FHLBNY and the swap counterparties enter into bilateral collateral agreements. · When the FHLBNY executes derivatives that are eligible to be cleared, the FHLBNY and the FCMs, acting as agents of Derivative Clearing Organizations or DCOs, would enter into margin agreements. The fair values of open derivative contracts are settled on a daily basis by the exchange of Variation margin. In addition, the FHLBNY posts Initial margin to DCOs. In aggregate, the FHLBNY had posted $247.8 million and $256.0 million in cash with derivative counterparties, including the DCOs at June 30, 2017 and December 31, 2016. Further information is provided in Note 16. Derivatives and Hedging Activities. The following table summarizes contractual obligations and contingencies as of June 30, 2017 (in thousands): June 30, 2017 Payments Due or Expiration Terms by Period Greater Than Greater Than Less Than One Year Three Years Greater Than One Year to Three Years to Five Years Five Years Total Contractual Obligations Consolidated obligation bonds at par (a) $ $ $ $ $ Consolidated obligation discount notes at par — — — Mandatorily redeemable capital stock (a) Premises (lease obligations) (b) Other liabilities (c) Total contractual obligations Other commitments Standby letters of credit — — Consolidated obligation bonds/discount notes traded not settled — — — Open delivery commitments (MPF) — — — Total other commitments — — Total obligations and commitments $ $ $ $ $ (a) Callable bonds contain an exercise date or a series of exercise dates that may result in a shorter redemption period. Redemption dates of mandatorily redeemable capital stock are assumed to correspond to maturity dates of member advances. Excess capital stock is redeemed at that time, and hence, these dates better represent the related commitments than the put dates associated with capital stock. (b) We executed a new lease for the New York City office, which we occupied in June 2017. The Bank plans to adopt ASU 2016-02, Leases (Topic 842) in 2019. Upon adoption the lease obligation will be recorded in the Statements of Condition. Until then, lease obligations will continue to be reported as commitments under existing GAAP. (c) Includes accounts payable and accrued expenses, Pass-through reserves at the FRB on behalf of certain members of the FHLBNY recorded in Other liabilities. Also includes projected payment obligations for pension plans. Where it was not possible to estimate the exact timing of payment obligations, they were assumed to be due within one year; amounts were not material. For more information about employee retirement plans in general, see Note 15. Employee Retirement Plans. The FHLBNY does not anticipate any credit losses from its off-balance sheet commitments and accordingly no provision for losses is required .

Related Party Transactions.

Related Party Transactions.	6 Months Ended
	Jun. 30, 2017
Related Party Transactions.
Related Party Transactions.	Note 19. Related Party Transactions. The FHLBNY is a cooperative and the members own almost all of the stock of the FHLBNY. Stock issued and outstanding that is not owned by members is held by former members. The majority of the members of the Board of Directors of the FHLBNY are elected by and from the membership. The FHLBNY conducts its advances business almost exclusively with members, and considers its transactions with its members and non-member stockholders as related party transactions in addition to transactions with other FHLBanks, the Office of Finance, and the Finance Agency. The FHLBNY conducts all transactions with members and non-members in the ordinary course of business. All transactions with all members, including those whose officers may serve as directors of the FHLBNY, are at terms that are no more favorable than comparable transactions with other members. The FHLBNY may from time to time borrow or sell overnight and term federal funds at market rates to members. Debt Assumptions and Transfers Debt assumptions — No debt was assumed from another FHLBank in the six months ended June 30, 2017 and in the same period in the prior year. Debt transfers — No debt was transferred to another FHLBank in the six months ended June 30, 2017 and in the same period in the prior year. Cash paid in excess of book cost is charged to earnings in the period when debt is transferred; the transferring bank notifies the Office of Finance, the issuing agent, on trade date of the change in primary obligor for the transferred debt. When debt is transferred or assumed, the transactions would be executed in the ordinary course of the FHLBNY’s business and at negotiated market pricing. Advances Sold or Transferred No advances were transferred or sold to the FHLBNY or from the FHLBNY to another FHLBank in any periods in this report. When an advance is transferred or assumed, the transactions would be executed in the ordinary course of the FHLBNY’s business and at negotiated market pricing. MPF Program In the MPF program, the FHLBNY may participate to the FHLBank of Chicago portions of its purchases of mortgage loans from its members. Transactions are participated at market rates. Since 2004, the FHLBNY has not shared its purchases with the FHLBank of Chicago. From the inception of the program through 2004, the cumulative share of participation in the FHLBNY’s MPF loans that has remained outstanding was $13.4 million and $15.5 million at June 30, 2017 and December 31, 2016. Fees paid to the FHLBank of Chicago for providing MPF program services were approximately $0.6 million and $1.1 million for the three and six months ended June 30, 2017, compared to $0.5 million and $1.0 million for the same periods in the prior year. Mortgage-backed Securities No mortgage-backed securities were acquired from other FHLBanks during the periods in this report. We pay an annual fee of $6.0 thousand to the FHLBank of Chicago for the use of MBS cash flow models in connection with OTTI analysis performed by the FHLBNY for certain of our private-label MBS. Intermediation From time to time, the FHLBNY acts as an intermediary to purchase derivatives to accommodate its smaller members. At June 30, 2017 and December 31, 2016, outstanding notional amounts were $184.0 million and $129.0 million and represented derivative contracts in which the FHLBNY acted as an intermediary to execute derivative contracts with members. Separately, the contracts were offset with contracts purchased from unrelated derivatives dealers. Net fair value exposures of these transactions at June 30, 2017 and December 31, 2016 were not significant. The intermediated derivative transactions with members were fully collateralized. Loans to Other Federal Home Loan Banks In the three and six months ended June 30, 2017, overnight loan extended to other FHLBanks were $0.5 billion. In the same periods in the prior year, the FHLBNY extended overnight loans for a total of $0.6 billion and $0.9 billion to other FHLBanks. Generally, loans made to other FHLBanks are uncollateralized. Interest income from such loans was immaterial in any period in this report. Borrowings from Other Federal Home Loan Banks The FHLBNY borrows from other FHLBanks, generally for a period of one day. In the three and six months ended June 30, 2017 and in the same periods in the prior year, there were no borrowings from other FHLBanks. Cash and Due from Banks Compensating cash balances were held at Citibank, a member and stockholder of the FHLBNY. For more information, see Note 3. Cash and Due from Banks. The following tables summarize significant balances with related parties at June 30, 2017 and December 31, 2016, and transactions for the three and six months ended June 30, 2017 and June 30, 2016 (in thousands): Related Party: Outstanding Assets, Liabilities and Capital June 30, 2017 December 31, 2016 Related Related Assets Advances $ $ Loans to other FHLBanks — Accrued interest receivable Liabilities and capital Deposits $ $ Mandatorily redeemable capital stock Accrued interest payable Affordable Housing Program (a) Other liabilities (b) Capital $ $ (a) Represents funds not yet allocated or disbursed to AHP programs. (b) Related column includes member pass-through reserves at the Federal Reserve Bank of New York. Related Party: Income and Expense Transactions Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Related Related Related Related Interest income Advances $ $ $ $ Loans to other FHLBanks Interest expense Deposits $ $ $ $ Mandatorily redeemable capital stock Service fees and other $ $ $ $

Segment Information and Concent

Segment Information and Concentration.	6 Months Ended
	Jun. 30, 2017
Segment Information and Concentration.
Segment Information and Concentration.	Note 20. Segment Information and Concentration. The FHLBNY manages its operations as a single business segment. Management and the FHLBNY’s Board of Directors review enterprise-wide financial information in order to make operating decisions and assess performance. Advances to large members constitute a significant percentage of FHLBNY’s advance portfolio and its source of revenues. The FHLBNY’s total assets and capital could significantly decrease if one or more large members were to withdraw from membership or decrease business with the FHLBNY. Members might withdraw or reduce their business as a result of consolidating with an institution that was a member of another FHLBank, or for other reasons. The FHLBNY has considered the impact of losing one or more large members. In general, a withdrawing member would be required to repay all indebtedness prior to the redemption of its capital stock. Under current conditions, the FHLBNY does not expect the loss of a large member to impair its operations, since the FHLBank Act, as amended, does not allow the FHLBNY to redeem the capital of an existing member if the redemption would cause the FHLBNY to fall below its capital requirements. Consequently, the loss of a large member should not result in an inadequate capital position for the FHLBNY. However, such an event could reduce the amount of capital that the FHLBNY has available for continued growth. This could have various ramifications for the FHLBNY, including a possible reduction in net income and dividends, and a lower return on capital stock for remaining members. The top ten advance holders at June 30, 2017, December 31, 2016 and June 30, 2016 and associated interest income for the periods then ended are summarized as follows (dollars in thousands): June 30, 2017 Percentage of Three Months Six Months Par Total Par Value Interest Interest City State Advances of Advances Income Percentage (a) Income Percentage (a) Citibank, N.A. New York NY $ % $ % $ % Metropolitan Life Insurance Company New York NY New York Community Bancorp, Inc.: New York Community Bank Westbury NY New York Commercial Bank Westbury NY Subtotal New York Community Bancorp, Inc. HSBC Bank USA, National Association (c) Mc Lean VA Investors Bank (b) Short Hills NJ Morgan Stanley Private Bank, NA Purchase NY Valley National Bank (b) Wayne NJ AXA Equitable Life Insurance Company New York NY Signature Bank New York NY New York Life Insurance Company New York NY Total $ % $ % $ % (a) Interest income percentage is the member’s interest income from advances as a percentage of the top 10 members. (b) At June 30, 2017, officer of member bank also served on the Board of Directors of the FHLBNY. (c) For Bank membership purposes, principal place of business is New York, NY. December 31, 2016 Percentage of Par Total Par Value Twelve Months City State Advances of Advances Interest Income Percentage (a) Citibank, N.A. New York NY $ % $ % Metropolitan Life Insurance Company New York NY New York Community Bancorp, Inc.: New York Community Bank Westbury NY New York Commercial Bank Westbury NY Subtotal New York Community Bancorp, Inc. HSBC Bank USA, National Association (c) McLean VA Investors Bank (b) Short Hills NJ Goldman Sachs Bank USA New York NY New York Life Insurance Company New York NY AXA Equitable Life Insurance Company New York NY Astoria Bank (b) Lake Success NY Signature Bank New York NY Total $ % $ % (a) Interest income percentage is the member’s interest income from advances as a percentage of the top 10 members. (b) At December 31, 2016, officer of member bank also served on the Board of Directors of the FHLBNY. (c) For Bank membership purposes, principal place of business is New York, NY. June 30, 2016 Percentage of Three Months Six Months Par Total Par Value Interest Interest City State Advances of Advances Income Percentage (a) Income Percentage (a) Citibank, N.A. New York NY $ % $ % $ % Metropolitan Life Insurance Company New York NY New York Community Bancorp, Inc.: New York Community Bank Westbury NY New York Commercial Bank Westbury NY Subtotal New York Community Bancorp, Inc. HSBC Bank USA, National Association (c) McLean VA First Niagara Bank, National Association Buffalo NY Investors Bank (b) Short Hills NJ Goldman Sachs Bank USA New York NY Signature Bank New York NY Astoria Bank (b) Lake Success NY Valley National Bank (b) Wayne NJ Total $ % $ % $ % (a) Interest income percentage is the member’s interest income from advances as a percentage of the top 10 members. (b) At June 30, 2016, officer of member bank also served on the Board of Directors of the FHLBNY. (c) For Bank membership purposes, principal place of business is New York, NY.

Subsequent Events.

Subsequent Events.	6 Months Ended
	Jun. 30, 2017
Subsequent Events.
Subsequent Events.	Note 21. Subsequent Events. Subsequent events for the FHLBNY are events or transactions that occur after the balance sheet date but before financial statements are issued. The FHLBNY has evaluated subsequent events through the filing date of this report and no significant subsequent events were identified other than the following: Effective on August 1, 2017, the FHLBNY reduced the capital stock purchase requirement for membership of the FHLBNY from 15 basis points to 12.5 basis points of members’ Mortgage-related Assets. On August 1, 2017, the FHLBNY repurchased approximately $225 million of excess Membership stock as a result of the reduction in the Membership stock requirement. The Bank remains in compliance with all capital requirements.

Significant Accounting Polici31

Significant Accounting Policies and Estimates. (Policies)	6 Months Ended
	Jun. 30, 2017
Significant Accounting Policies and Estimates.
Basis of Presentation	Basis of Presentation The accompanying financial statements of the Federal Home Loan Bank of New York have been prepared in accordance with Generally Accepted Accounting Principles in the United States (“GAAP”) and with the instructions provided by the Securities and Exchange Commission (“SEC”).
Significant Accounting Policies and Estimates	Significant Accounting Policies and Estimates The FHLBNY has identified certain accounting policies that it believes are significant because they require management to make subjective judgments about matters that are inherently uncertain and because of the likelihood that materially different amounts would be reported under different conditions or by using different assumptions. These policies include estimating the allowance for credit losses on the advance and mortgage loan portfolios, evaluating the impairment of the FHLBNY’s securities portfolios, and estimating fair values of certain assets and liabilities. There have been no significant changes to accounting policies from those identified in Note 1. Significant Accounting Policies and Estimates in Notes to the Financial Statements in the Bank’s most recent Form 10-K filed on March 22, 2017, which contains a summary of the Bank’s significant accounting policies and estimates.
Recently Adopted Significant Accounting Policies	Recently Adopted Significant Accounting Policies Contingent Put and Call Options in Debt Instruments . In March 2016 , the FASB issued ASU No. 2016-06, Contingent Put and Call options in Debt Instruments, as an amendment to Derivatives and Hedging Activities (Topic 815). The amendments clarify the requirements for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. The guidance requires entities to apply only the four-step decision sequence when assessing whether the economic characteristics and risks of call (put) options are clearly and closely related to the economic characteristics and risks of their debt hosts. Consequently, when a call (put) option is contingently exercisable, an entity does not have to assess whether the event that triggers the ability to exercise a call (put) option is related to interest rates or credit risks. This guidance became effective for the FHLBNY as of January 1, 2017, and adoption had no impact on our financial condition, results of operations, and cash flows. Certain FHLBNY’s debt instruments are structured with call options, but the options are not considered as contingently exercisable. For information on policies adopted in 2016, see Recently Adopted Significant Accounting Policies in Note 1 in the Bank’s most recent Form 10-K filed on March 22, 2017.

Trading Securities. (Tables)

Trading Securities. (Tables)	6 Months Ended
	Jun. 30, 2017
Securities
Schedule of major security types of trading securities	The carrying value of a trading security equals its fair value. The following table provides major security types at June 30, 2017 and December 31, 2016 (in thousands): Fair value (in thousands) June 30, 2017 December 31, 2016 Non-mortgage-backed securities GSE securities $ $ U.S. treasury notes — Total non-mortgage-backed trading securities $ $
Trading Securities
Securities
Schedule of contractual maturities and estimated fair values of investments	The contractual maturities and estimated fair values (a) of investments classified as trading were as follows (in thousands): June 30, 2017 (Dollars in thousands) Due in one year Total Fair Non-mortgage-backed securities GSE securities $ $ Total non-mortgage-backed trading securities $ $ Yield on trading securities % December 31, 2016 (Dollars in thousands) Due in one year Total Fair Non-mortgage-backed securities GSE securities $ $ U.S. treasury notes Total non-mortgage-backed trading securities $ $ Yield on trading securities % (a) We have classified investments acquired for purposes of meeting short-term contingency liquidity needs as trading securities, which are carried at their fair values. In accordance with Finance Agency guidance, we do not participate in speculative trading practices.

Available-for-Sale Securities.

Available-for-Sale Securities. (Tables)	6 Months Ended
	Jun. 30, 2017
Securities
Summary of interest rate payment terms of investments in mortgage-backed securities classified as AFS securities	The following table summarizes interest rate payment terms of investments in mortgage-backed securities classified as AFS securities (in thousands): June 30, 2017 December 31, 2016 Amortized Cost Fair Value Amortized Cost Fair Value Mortgage-backed securities CMO floating - LIBOR $ $ $ $ CMBS floating - LIBOR Total Mortgage-backed securities (a) $ $ $ $ (a) Total will not agree to total AFS portfolio because the grantor trust, which primarily comprises of mutual funds, has been excluded.
Available-for-Sale Securities
Securities
Schedule of major security types of available-for-sale securities	The carrying value of an AFS security equals its fair value. At June 30, 2017 and December 31, 2016, no AFS security was other-than-temporarily impaired. The following tables provide major security types (in thousands): June 30, 2017 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains (b) Losses (b) Value Cash equivalents (a) $ $ — $ — $ Equity funds (a) ) Fixed income funds (a) ) GSE and U.S. Obligations Mortgage-backed securities CMO-Floating — CMBS-Floating — Total Available-for-sale securities $ $ $ ) $ December 31, 2016 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains (b) Losses (b) Value Cash equivalents (a) $ $ — $ — $ Equity funds (a) ) Fixed income funds (a) — ) GSE and U.S. Obligations Mortgage-backed securities CMO-Floating ) CMBS-Floating — Total Available-for-sale securities $ $ $ ) $ (a) The FHLBNY has a grantor trust, the intent of which is to set aside cash to meet current and future payments for supplemental unfunded pension plans. Neither the pension plans nor employees of the FHLBNY own the trust. Investments in the trust are classified as AFS. The grantor trust invests in money market, equity and fixed income and bond funds. Daily net asset values (NAVs) are readily available and investments are redeemable at short notice. NAVs are the fair values of the funds in the grantor trust. The mutual funds used to manage the assets of the Grantor trust will be sufficiently liquid to enable the trust to meet future liabilities. Dividend income and net realized gains from sales of funds totaled $0.5 million and $0.7 million for three and six months ended June 30, 2017, compared to $0.2 million and $0.3 million for the same periods in the prior year; gains and losses from sales are recorded in Other income in the Statements of Income. (b) Recorded in AOCI — Net unrealized fair value gains were $9.1 million at June 30, 2017 and $4.2 million at December 31, 2016.
Schedule of amortized cost and estimated fair value of investments by contractual maturity	The amortized cost and estimated fair value (a) of investments classified as AFS, by contractual maturity, were as follows (in thousands): June 30, 2017 December 31, 2016 Amortized Cost (c) Fair Value Amortized Cost (c) Fair Value Mortgage-backed securities Due after one year through five years $ $ $ $ Due after ten years Fixed income/bond funds, equity funds and cash equivalents (b) Total Available-for-sale securities $ $ $ $ (a) The carrying value of AFS securities equals fair value . (b) Funds in the grantor trust are determined to be redeemable at short notice. Fair values are the daily NAVs of the bond and equity funds. (c) Amortized cost is after adjusting for net unamortized discounts of $2.1 million and $2.4 million at June 30, 2017 and December 31, 2016.

Held-to-Maturity Securities. (T

Held-to-Maturity Securities. (Tables)	6 Months Ended
	Jun. 30, 2017
Held-to-Maturity Securities.
Summary of interest rate payment terms of securities classified as held-to-maturity	The following table summarizes interest rate payment terms of securities classified as held-to-maturity (in thousands): June 30, 2017 December 31, 2016 Amortized Carrying Amortized Carrying Cost Value Cost Value Mortgage-backed securities CMO Fixed $ $ $ $ Floating Total CMO CMBS Fixed Floating Total CMBS Pass Thru (a) Fixed Floating Total Pass Thru Total MBS State and local housing finance agency obligations Fixed Floating Total State and local housing finance agency obligations Total Held-to-maturity securities $ $ $ $ (a) Includes MBS supported by pools of mortgages.
Rollforward information about cumulative credit component of OTTI recognized as a charge to earnings related to held-to-maturity securities	The following table provides rollforward information about the cumulative credit component of OTTI recognized as a charge to earnings related to held-to-maturity securities (in thousands): Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Beginning balance $ $ $ $ Additional credit losses for which an OTTI charge was previously recognized — — Realized credit losses ) — ) — Increases in cash flows expected to be collected, recognized over the remaining life of the securities ) ) ) ) Ending balance $ $ $ $
Private-label MBS
Held-to-Maturity Securities.
Summary of range and weighted average of Key Base Assumptions for private-label MBS	Key Base Assumptions - All PLMBS at June 30, 2017 CDR % (a) CPR % (b) Loss Severity % (c) Security Classification Range Average Range Average Range Average RMBS Prime (d) 0.0-5.2 4.0-16.3 0.0-97.4 RMBS Alt-A (d) 1.0-2.1 2.0-4.6 30.0-30.0 HEL Subprime (e) 1.2-7.6 2.0-17.8 30.0-100.0 Manufactured Housing Loans 3.1-4.0 2.0-5.3 79.4-92.7 Key Base Assumptions - All PLMBS at December 31, 2016 CDR% (a) CPR% (b) Loss Severity% (c) Security Classification Range Average Range Average Range Average RMBS Prime (d) 0.1-5.2 7.5-14.8 0.0-70.8 RMBS Alt-A (d) 1.0-2.7 2.0-4.2 30.0-30.0 HEL Subprime (e) 1.0-12.3 2.0-16.3 30.0-100.0 Manufactured Housing Loans 2.5-3.3 2.7-4.1 77.1-88.4 (a) Conditional Default Rate (CDR) : 1— ((1-MDR)^12) where, MDR is defined as the “Monthly Default Rate (MDR)” = (Beginning Principal Balance of Liquidated Loans)/(Total Beginning Principal Balance). (b) Conditional Prepayment Rate (CPR) : 1— ((1-SMM)^12) where, SMM is defined as the “Single Monthly Mortality (SMM)” = (Voluntary Partial and Full Prepayments + Repurchases + Liquidated Balances)/(Beginning Principal Balance - Scheduled Principal). Voluntary prepayment excludes the liquidated balances mentioned above. (c) Loss Severity (Principal and Interest in the current period) = Sum (Total Realized Loss Amount)/Sum (Beginning Principal and Interest Balance of Liquidated Loans). (d) CMOs/REMICS private-label MBS. (e) Residential asset-backed MBS.
Held-to-Maturity securities
Held-to-Maturity Securities.
Schedule of major security types of held-to-maturity securities	Major Security Types (in thousands) June 30, 2017 OTTI Gross Gross Amortized Recognized Carrying Unrecognized Unrecognized Fair Issued, guaranteed or insured: Cost (d) in AOCI Value Holding Gains (a) Holding Losses (a) Value Pools of Mortgages Fannie Mae $ $ — $ $ $ — $ Freddie Mac — — Total pools of mortgages — — Collateralized Mortgage Obligations/Real Estate Mortgage Investment Conduits Fannie Mae — ) Freddie Mac — ) Ginnie Mae — — Total CMOs/REMICs — ) Commercial Mortgage-Backed Securities (b) Fannie Mae — ) Freddie Mac — ) Total commercial mortgage-backed securities — ) Non-GSE MBS (c) CMOs/REMICs ) ) Asset-Backed Securities (c) Manufactured housing (insured) — ) Home equity loans (insured) ) ) Home equity loans (uninsured) ) ) Total asset-backed securities ) ) Total MBS ) ) Other State and local housing finance agency obligations — ) Total Held-to-maturity securities $ $ ) $ $ $ ) $ December 31, 2016 OTTI Gross Gross Amortized Recognized Carrying Unrecognized Unrecognized Fair Issued, guaranteed or insured: Cost (d) in AOCI Value Holding Gains (a) Holding Losses (a) Value Pools of Mortgages Fannie Mae $ $ — $ $ $ — $ Freddie Mac — — Total pools of mortgages — — Collateralized Mortgage Obligations/Real Estate Mortgage Investment Conduits Fannie Mae — ) Freddie Mac — ) Ginnie Mae — ) Total CMOs/REMICs — ) Commercial Mortgage-Backed Securities (b) Fannie Mae — ) Freddie Mac — ) Total commercial mortgage-backed securities — ) Non-GSE MBS (c) CMOs/REMICs ) ) Asset-Backed Securities (c) Manufactured housing (insured) — — Home equity loans (insured) ) ) Home equity loans (uninsured) ) ) Total asset-backed securities ) ) Total MBS ) ) Other State and local housing finance agency obligations — ) Total Held-to-maturity securities $ $ ) $ $ $ ) $ (a) Unrecognized gross holding gains and losses represent the difference between fair value and carrying value. (b) Commercial mortgage-backed securities (“CMBS”) are Agency issued securities, collateralized by income-producing “multifamily properties”. Eligible property types include standard conventional multifamily apartments, affordable multifamily housing, seniors housing, student housing, military housing, and rural rent housing. (c) The amounts represent non-agency private-label mortgage- and asset-backed securities. (d) Amortized cost — For securities that were deemed to be OTTI, amortized cost represents unamortized cost less credit OTTI, net of credit OTTI reversed due to improvements in cash flows.
Summary of held-to-maturity securities with fair values below their amortized cost basis	The following tables summarize held-to-maturity securities with estimated fair values below their amortized cost basis (in thousands): June 30, 2017 Less than 12 months 12 months or more Total Estimated Unrealized Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses Fair Value Losses Non-MBS Investment Securities State and local housing finance agency obligations $ $ ) $ $ ) $ $ ) MBS Investment Securities MBS-GSE Fannie Mae ) ) ) Freddie Mac ) ) ) Total MBS-GSE ) ) ) MBS-Private-Label ) ) ) Total MBS ) ) ) Total $ $ ) $ $ ) $ $ ) December 31, 2016 Less than 12 months 12 months or more Total Estimated Unrealized Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses Fair Value Losses Non-MBS Investment Securities State and local housing finance agency obligations $ $ ) $ $ ) $ $ ) MBS Investment Securities MBS-GSE Fannie Mae ) ) ) Freddie Mac ) ) ) Ginnie Mae ) — — ) Total MBS-GSE ) ) ) MBS-Private-Label ) ) ) Total MBS ) ) ) Total $ $ ) $ $ ) $ $ )
Schedule of amortized cost and estimated fair value of investments by contractual maturity	The amortized cost and estimated fair value of held-to-maturity securities, arranged by contractual maturity, were as follows (in thousands): June 30, 2017 December 31, 2016 Amortized Estimated Amortized Estimated Cost (a) Fair Value Cost (a) Fair Value State and local housing finance agency obligations Due after one year through five years $ $ $ $ Due after five years through ten years Due after ten years State and local housing finance agency obligations Mortgage-backed securities Due in one year or less Due after one year through five years Due after five years through ten years Due after ten years Mortgage-backed securities Total Held-to-maturity securities $ $ $ $ (a) Amortized cost is after adjusting for net unamortized premiums of $38.4 million and $36.6 million (net of unamortized discounts) at June 30, 2017 and December 31, 2016.

Advances. (Tables)

Advances. (Tables)	6 Months Ended
	Jun. 30, 2017
Advances.
Schedule of contractual redemption terms and yields of advances	Contractual redemption terms and yields of advances were as follows (dollars in thousands): June 30, 2017 December 31, 2016 Weighted (a) Weighted (a) Average Percentage Average Percentage Amount Yield of Total Amount Yield of Total Overdrawn demand deposit accounts $ — — % — % $ % — % Due in one year or less Due after one year through two years Due after two years through three years Due after three years through four years Due after four years through five years Thereafter Total par value % % % % Hedge valuation basis adjustments (b) ) Fair value option valuation adjustments and accrued interest (c) Total $ $ (a) The weighted average yield is the weighted average coupon rates for advances, unadjusted for swaps. For floating-rate advances, the weighted average rate is the rate outstanding at the reporting dates. (b) Hedge valuation basis adjustments represent changes in the fair values of fixed-rate advances due to changes in LIBOR, which is the FHLBNY’s benchmark rate in a Fair value hedge. (c) Valuation adjustments represent changes in the entire fair values of advances elected under the FVO.

Mortgage Loans Held-for-Portf36

Mortgage Loans Held-for-Portfolio. (Tables)	6 Months Ended
	Jun. 30, 2017
Mortgage Loans Held-for-Portfolio.
Schedule of information on mortgage loans held-for-portfolio	The following table presents information on mortgage loans held-for-portfolio (dollars in thousands): June 30, 2017 December 31, 2016 Amount Percentage Amount Percentage Real Estate (a) : Fixed medium-term single-family mortgages $ % $ % Fixed long-term single-family mortgages Multi-family mortgages — — — Total par value % % Unamortized premiums Unamortized discounts ) ) Basis adjustment (b) Total mortgage loans held-for-portfolio Allowance for credit losses ) ) Total mortgage loans held-for-portfolio, net of allowance for credit losses $ $ (a) Conventional mortgages represent the majority of mortgage loans held-for-portfolio, with the remainder invested in FHA and VA insured loans (also referred to as government loans). (b) Balances represent unamortized fair value basis of closed delivery commitments. A basis adjustment is recorded at the settlement of the loan and it represents the difference in trade price paid for acquiring the loan and the price at the settlement date for a similar loan. The basis adjustment is amortized as a yield adjustment to Interest income.
Roll-forward analysis of allowance for credit losses	The following table provides a rollforward analysis of the allowance for credit losses (in thousands): Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Allowance for credit losses: Beginning balance $ $ $ $ Charge-offs ) ) ) ) Provision/(Reversal) for credit losses on mortgage loans ) Ending balance $ $ $ $ June 30, 2017 December 31, 2016 Ending balance, individually evaluated for impairment $ $ Ending balance, collectively evaluated for impairment Total Allowance for credit losses $ $
Schedule of non-performing mortgage loans	The FHLBNY’s total MPF loans and impaired MPF loans were as follows (UPB, in thousands): June 30, 2017 December 31, 2016 Total Mortgage loans, net of allowance for credit losses (a) $ $ Non-performing mortgage loans - Conventional (a)(b) $ $ Insured MPF loans past due 90 days or more and still accruing interest (a)(b) $ $ (a) Includes loans classified as special mention, sub-standard, doubtful or loss under regulatory criteria, net of amounts charged-off if delinquent for 180 days or more. (b) Data in this table represents unpaid principal balance, and would not agree to data reported in other tables at “recorded investment,” which includes interest receivable.
Summary of interest income not recognized in earnings and actual cash received against interest due, but not recognized	The table summarizes interest income that was not recognized in earnings. It also summarizes the actual cash that was received against interest due, but not recognized (in thousands): Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Interest contractually due (a) $ $ $ $ Interest actually received Shortfall $ $ $ $ (a) Represents the amount of interest accrual on non-accrual conventional loans that were not recorded as income. When interest is received on non-accrual loans, cash received is recorded as a liability as the FHLBNY considers such amounts received as an advance from servicers that would be subject to repayment at foreclosure; the cash received remains in Other liabilities until legal determination is made at foreclosure. For more information about the FHLBNY’s policy on non-accrual loans, see financial statements, Note 1. Significant Accounting Policies and Estimates in our most recent Form 10-K filed on March 22, 2017.
Summary of impaired loans for which related allowance was individually measured (excluding insured FHA/VA loans)	The following summarizes the recorded investment in impaired loans (excluding insured FHA/VA loans), the unpaid principal balance, and the related allowance (individually assessed), and the average recorded investment of loans for which the related allowance was individually measured (in thousands): Three months ended Six months ended June 30, 2017 June 30, 2017 June 30, 2017 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment (d) Conventional MPF Loans (a)(c) No related allowance (b) $ $ $ — $ $ With a related allowance Total individually measured for impairment $ $ $ $ $ December 31, 2016 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment (d) Conventional MPF Loans (a)(c) No related allowance (b) $ $ $ — $ With a related allowance Total individually measured for impairment $ $ $ $ (a) Based on analysis of the nature of risks of the FHLBNY’s investments in MPF loans, including its methodologies for identifying and measuring impairment, management has determined that presenting such loans as a single class is appropriate. (b) Collateral values, net of estimated costs to sell, exceeded the recorded investments in impaired loans and no allowances were deemed necessary. (c) Interest received is not recorded as Interest income if an uninsured loan is past due 90 days or more. Cash received is recorded as a liability on the assumption that cash was remitted by the servicer to the FHLBNY that could potentially be recouped by the borrower in a foreclosure. (d) Represents the average recorded investment for the three and six months ended June 30, 2017 and the twelve months ended December 31, 2016.
Summary of loans for which related allowance was collectively measured	The following tables summarize the recorded investment, the unpaid principal balance, and the average recorded investment of loans for which the related allowance was collectively measured (in thousands): Three months ended Six months ended June 30, 2017 June 30, 2017 June 30, 2017 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment (a) Collectively measured for impairment Insured loans $ $ $ — $ $ Uninsured loans Total loans collectively measured for impairment $ $ $ $ $ December 31, 2016 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment (a) Collectively measured for impairment Insured loans $ $ $ — $ Uninsured loans Total loans collectively measured for impairment $ $ $ $ (a) Represents the average recorded investment for the three and six months ended June 30, 2017 and the twelve months ended December 31, 2016.
Summary of recorded investments in MPF loans past due, and real estate owned	Recorded investments in MPF loans that were past due, and real estate owned are summarized below. Recorded investment, which includes accrued interest receivable, would not equal carrying values reported elsewhere (dollars in thousands): June 30, 2017 December 31, 2016 Conventional Insured Other Conventional Insured Other MPF Loans Loans Loans MPF Loans Loans Loans Mortgage loans: Past due 30 - 59 days $ $ $ — $ $ $ — Past due 60 - 89 days — — Past due 90 - 179 days — — Past due 180 days or more — — Total past due — — Total current loans — Total mortgage loans $ $ $ — $ $ $ Other delinquency statistics: Loans in process of foreclosure, included above $ $ $ — $ $ $ — Number of foreclosures outstanding at period end — — Serious delinquency rate (a) % % — % % % — % Serious delinquent loans total used in calculation of serious delinquency rate $ $ $ — $ $ $ — Past due 90 days or more and still accruing interest $ — $ $ — $ — $ $ — Loans on non-accrual status $ $ — $ — $ $ — $ — Troubled debt restructurings: Loans discharged from bankruptcy (b) $ $ $ — $ $ $ — Modified loans under MPF® program $ $ — $ — $ $ — $ — Real estate owned $ $ (a) Serious delinquency rate is defined as recorded investments in loans that are 90 days or more past due or in the process of foreclosure expressed as a percentage of total loan class. (b) Loans discharged from Chapter 7 bankruptcies are considered as TDRs.
Summary of performing and non-performing troubled debt restructurings balances	The following table summarizes performing and non-performing troubled debt restructurings balances (in thousands): June 30, 2017 December 31, 2016 Recorded Investment Outstanding Performing Non- performing Total TDRs Performing Non- performing Total TDRs Troubled debt restructurings (TDRs) (a)(b) : Loans discharged from bankruptcy $ $ $ $ $ $ Modified loans under MPF ® program Total troubled debt restructurings $ $ $ $ $ $ Related Allowance $ $ (a) Insured loans were not included in the calculation for troubled debt restructuring. (b) Loans discharged from Chapter 7 bankruptcy are also considered as TDRs.

Deposits. (Tables)

Deposits. (Tables)	6 Months Ended
	Jun. 30, 2017
Deposits.
Summary of deposits	The following table summarizes deposits (in thousands): June 30, 2017 December 31, 2016 Interest-bearing deposits Interest-bearing demand $ $ Term (a) Total interest-bearing deposits Non-interest-bearing demand Total deposits (b) $ $ (a) Term deposits were for periods of one year or less. (b) Specific disclosures about deposits that exceed FDIC limits have been omitted as deposits are not insured by the FDIC. Deposits are received in the ordinary course of the FHLBNY’s business. The FHLBNY has pledged securities to the FDIC to collateralize deposits maintained at the FHLBNY by the FDIC; for more information, see Securities Pledged in Note 7. Held-to-Maturity Securities.
Summary of interest rate payment terms for deposits	Interest rate payment terms for deposits are summarized below (dollars in thousands): June 30, 2017 December 31, 2016 Amount Weighted (b) Amount Weighted (b) Due in one year or less Interest-bearing deposits (a) $ % $ % Non-interest-bearing deposits Total deposits $ $ (a) Primarily adjustable rate; weighted average interest rates were for the periods in this table. (b) The weighted average interest rate is calculated based on the average balance.

Consolidated Obligations. (Tabl

Consolidated Obligations. (Tables)	6 Months Ended
	Jun. 30, 2017
Consolidated Obligations.
Schedule of qualifying unpledged asset requirements	June 30, 2017 December 31, 2016 Percentage of unpledged qualifying assets to consolidated obligations % %
Summary of consolidated obligations issued and outstanding	The following table summarizes consolidated obligations issued by the FHLBNY and outstanding at June 30, 2017 and December 31, 2016 (in thousands): June 30, 2017 December 31, 2016 Consolidated obligation bonds-amortized cost $ $ Hedge valuation basis adjustments (a) Hedge basis adjustments on terminated hedges (b) FVO (c) - valuation adjustments and accrued interest Total Consolidated obligation bonds $ $ Discount notes-amortized cost $ $ FVO (c) - valuation adjustments and remaining accretion Total Consolidated obligation discount notes $ $ (a) Hedge valuation basis adjustments represent changes in the fair values due to changes in LIBOR on fixed-rate bonds in a Fair value hedge. (b) Hedge basis adjustments on terminated hedges represent the unamortized balances of valuation basis of fixed-rate bonds that were previously in a qualifying hedge relationship. The valuation basis at the time of hedge termination is amortized as a yield adjustment through Interest expense. (c) Valuation adjustments represent changes in the entire fair values of bonds and discount notes elected under the FVO.
Summary of consolidated obligation bonds outstanding by year of maturity	The following table is a summary of consolidated obligation bonds outstanding by year of maturity (dollars in thousands): June 30, 2017 December 31, 2016 Weighted Weighted Average Percentage Average Percentage Maturity Amount Rate (a) of Total Amount Rate (a) of Total One year or less $ % % $ % % Over one year through two years Over two years through three years Over three years through four years Over four years through five years Thereafter Total par value % % % % Bond premiums (b) Bond discounts (b) ) ) Hedge valuation basis adjustments (c) Hedge basis adjustments on terminated hedges (d) FVO (e) - valuation adjustments and accrued interest Total Consolidated obligation-bonds $ $ (a) Weighted average rate represents the weighted average contractual coupons of bonds, unadjusted for swaps. (b) Amortization of bond premiums and discounts resulted in net reduction of Interest expense by $5.2 million and $10.1 million for the three and six months ended June 30, 2017, compared to $3.5 million and $7.1 million for the same periods in the prior year. (c) Hedge valuation basis adjustments represent changes in the fair values due to changes in LIBOR on fixed-rate bonds in a Fair value hedge. (d) Hedge basis adjustments on terminated hedges represent the unamortized balances of valuation basis of fixed-rate bonds that were previously in a fair value hedging relationship. Generally, when a hedging relationship is de-designated, the valuation basis is no longer adjusted for changes in the valuation of the debt for changes in the benchmark rate; instead, the basis is amortized over the debt’s remaining life, so that at its maturity, the unamortized basis is reversed to zero. The unamortized basis was $137.6 million and $140.3 million at June 30, 2017 and December 31, 2016. Amortization of hedge basis adjustments was recorded as a yield adjustment, which reduced Interest expenses by $1.4 million and $2.9 million for the three and six months ended June 30, 2017, compared to $1.5 million and $2.9 million for the same periods in the prior year. (e) Valuation adjustments represent changes in the entire fair values of bonds elected under the FVO.
Summary of types of bonds issued and outstanding	The following table summarizes types of bonds issued and outstanding (dollars in thousands): June 30, 2017 December 31, 2016 Amount Percentage Amount Percentage Fixed-rate, non-callable $ % $ % Fixed-rate, callable Step Up, callable Single-index floating rate Total par value % % Bond premiums Bond discounts ) ) Hedge valuation basis adjustments (a) Hedge basis adjustments on terminated hedges (b) FVO (c) - valuation adjustments and accrued interest Total Consolidated obligation-bonds $ $ (a) Hedge valuation basis adjustments represent changes in the fair values due to changes in LIBOR on fixed-rate bonds in a Fair value hedge. (b) Hedge basis adjustments on terminated hedges represent the unamortized balances of valuation basis of fixed-rate bonds that were previously in a hedging relationship. (c) Valuation adjustments represent changes in the entire fair values of bonds elected under the FVO.
Schedule of outstanding consolidated obligation discount notes	The FHLBNY’s outstanding consolidated obligation discount notes were as follows (dollars in thousands): June 30, 2017 December 31, 2016 Par value $ $ Amortized cost $ $ FVO (a) - valuation adjustments and remaining accretion Total discount notes $ $ Weighted average interest rate % % (a) Valuation adjustments represent changes in the entire fair values of discount notes elected under the FVO.

Affordable Housing Program. (Ta

Affordable Housing Program. (Tables)	6 Months Ended
	Jun. 30, 2017
Affordable Housing Program.
Roll-forward information with respect to changes in Affordable Housing Program liabilities	The following table provides rollforward information with respect to changes in Affordable Housing Program liabilities (in thousands): Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Beginning balance $ $ $ $ Additions from current period’s assessments Net disbursements for grants and programs ) ) ) ) Ending balance $ $ $ $

Capital Stock, Mandatorily Re40

Capital Stock, Mandatorily Redeemable Capital Stock and Restricted Retained Earnings. (Tables)	6 Months Ended
	Jun. 30, 2017
Capital Stock, Mandatorily Redeemable Capital Stock and Restricted Retained Earnings.
Summary of risk-based capital ratios	The following table summarizes the FHLBNY’s risk-based capital ratios (dollars in thousands): June 30, 2017 December 31, 2016 Required (d) Actual Required (d) Actual Regulatory capital requirements: Risk-based capital (a)(e) $ $ $ $ Total capital-to-asset ratio % % % % Total capital (b) $ $ $ $ Leverage ratio % % % % Leverage capital (c ) $ $ $ $ (a) Actual “Risk-based capital” is capital stock and retained earnings plus mandatorily redeemable capital stock. Section 932.2 of the Finance Agency’s regulations also refers to this amount as “Permanent Capital.” (b) Required “Total capital” is 4.0% of total assets. (c) A leverage ratio of total capital to total assets of at least 5.0%. For the purposes of determining the leverage ratio, total capital shall be computed by multiplying the Bank’s Permanent Capital by 1.5. (d) Required minimum. (e) Under regulatory guidelines issued by the Finance Agency in August 2011 that was consistent with guidance provided by other federal banking agencies with respect to capital rules, risk weights are maintained at AAA for Treasury securities and other securities issued or guaranteed by the U.S. Government, government agencies, and government-sponsored entities for purposes of calculating risk-based capital.
Schedule of anticipated redemptions of mandatorily redeemable capital stock	Estimated redemption periods were as follows (in thousands): June 30, 2017 December 31, 2016 Redemption less than one year $ $ Redemption from one year to less than three years Redemption from three years to less than five years Redemption from five years or greater Total $ $
Roll-forward information with respect to changes in mandatorily redeemable capital stock liabilities	The following table provides rollforward information with respect to changes in mandatorily redeemable capital stock liabilities (in thousands): Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Beginning balance $ $ $ $ Capital stock subject to mandatory redemption reclassified from equity Redemption of mandatorily redeemable capital stock (a) ) ) ) ) Ending balance $ $ $ $ Accrued interest payable (b) $ $ $ $ (a) Redemption includes repayment of excess stock. (b) The annualized accrual rate was 5.00% for the three months ended June 30, 2017 and 4.50% for the three months ended June 30, 2016. Accrual rates are based on estimated dividend rates.

Earnings Per Share of Capital.

Earnings Per Share of Capital. (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings Per Share of Capital.
Schedule of computation of earnings per share	The FHLBNY has no dilutive potential common shares or other common stock equivalents (dollars in thousands except per share amounts): Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Net income $ $ $ $ Net income available to stockholders $ $ $ $ Weighted average shares of capital Less: Mandatorily redeemable capital stock ) ) ) ) Average number of shares of capital used to calculate earnings per share Basic earnings per share $ $ $ $

Employee Retirement Plans. (Tab

Employee Retirement Plans. (Tables)	6 Months Ended
	Jun. 30, 2017
Employee Retirement Plans
Schedule of employee retirement plan expenses	The following table presents employee retirement plan expenses for the periods ended (in thousands): Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Defined Benefit Plan $ $ $ $ Benefit Equalization Plans (defined benefit and defined contribution) Defined Contribution Plans Postretirement Health Benefit Plan ) ) ) ) Total retirement plan expenses $ $ $ $
Benefit Equalization Plan (BEP)
Employee Retirement Plans
Schedule of components of net periodic cost	Components of the net periodic pension cost for the defined benefit component of the BEP were as follows (in thousands): Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Service cost $ $ $ $ Interest cost Amortization of unrecognized net loss Amortization of unrecognized past service (credit) — ) — ) Net periodic benefit cost $ $ $ $
Postretirement Health Benefit Plan
Employee Retirement Plans
Schedule of components of net periodic cost	Components of the net periodic benefit cost for the postretirement health benefit plan were as follows (in thousands): Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Service cost (benefits attributed to service during the period) $ $ $ $ Interest cost on accumulated postretirement health benefit obligation Amortization of loss Amortization of prior service (credit) ) ) ) ) Net periodic postretirement health benefit (income) (a) $ ) $ ) $ ) $ ) (a) Plan amendments in a prior year reduced plan obligations by $8.8 million, and the resulting gain is being amortized over an actuarially determined period, reducing net periodic benefit costs.

Derivatives and Hedging Activ43

Derivatives and Hedging Activities. (Tables)	6 Months Ended
	Jun. 30, 2017
Derivatives and Hedging Activities.
Schedule of Derivative instruments Nettable and Not Nettable	The following table presents the gross and net derivatives receivables by contract type and amount for those derivatives contracts for which netting is permissible under U.S. GAAP (“Derivative instruments — Nettable”). Derivatives receivables have been netted with respect to those receivables as to which the netting requirements have been met, including obtaining a legal analysis with respect to the enforceability of the netting. Where such a legal analysis has not been either sought or obtained, the receivables were not netted, and were reported as Derivative instruments — Not Nettable (in thousands): June 30, 2017 December 31, 2016 Derivative Derivative Derivative Derivative Derivative instruments - Nettable Gross recognized amount Bilateral derivatives $ $ $ $ Cleared derivatives Total derivatives fair values Variation Margin ) — — — Total gross recognized amount $ $ $ $ Gross amounts of netting adjustments and cash collateral Bilateral derivatives ) ) ) ) Cleared derivatives ) ) ) ) Total gross amounts of netting adjustments and cash collateral $ ) $ ) $ ) $ ) Net amounts after offsetting adjustments $ $ $ $ Bilateral derivatives $ $ $ $ Cleared derivatives — — Total net amounts after offsetting adjustments - Nettable $ $ $ $ Derivative instruments - Not Nettable Delivery commitments (a) Total derivative assets and total derivative liabilities presented in the Statements of Condition (b) $ $ $ $ Non-cash collateral received or pledged not offset (c) Cannot be sold or repledged Bilateral derivatives $ $ — $ $ — Delivery commitments (a) — — — Total cannot be sold or repledged — — Net unsecured amount Bilateral derivatives Cleared derivatives — — Total net amount (d) $ $ $ $ (a) Derivative instruments without legal right of offset were synthetic derivatives representing forward mortgage delivery commitments of 45 business days or less. Amounts were not material, and it was operationally not practical to separate receivable from payables, and net presentation was adopted. No cash collateral was involved with the mortgage delivery commitments accounted as derivatives. (b) Total net amount represents net unsecured amounts of Derivative assets and liabilities recorded in the Statements of Condition at June 30, 2017 and December 31, 2016. The amounts primarily represent (1) the aggregate credit support thresholds that were waived under ISDA Credit Support and Master netting agreements between the FHLBNY and derivative counterparties for uncleared derivative contracts, and (2) Initial margins posted by the FHLBNY to DCO on cleared derivative transactions. Balances are not netted with non-cash collateral received or pledged, since legal ownership of the non-cash collateral remains with the pledging counterparty (see footnote c below). (c) Non-Cash collateral received or pledged not offset — Bilateral derivative: certain counterparties have pledged U.S. treasury securities to collateralize FHLBNY’s exposure; also includes non-cash collateral on derivative positions with member counterparties where we acted as an intermediary. Amounts are typically collateralized by 1-4 family housing collateral. For information on Delivery commitments, see Note a, above. (d) Represents net exposure after applying non-cash collateral pledged to the FHLBNY.
Schedule of outstanding notional balances and estimated fair values of derivatives outstanding	The following tables represent outstanding notional balances and estimated fair values of the derivatives outstanding at June 30, 2017 and December 31, 2016 (in thousands): June 30, 2017 Notional Amount Derivative Assets Derivative Fair value of derivative instruments (a) Derivatives designated in hedging relationships Interest rate swaps-fair value hedges $ $ $ Interest rate swaps-cash flow hedges Total derivatives in hedging instruments Derivatives not designated as hedging instruments Interest rate swaps Interest rate caps or floors — Mortgage delivery commitments Other (b) Total derivatives not designated as hedging instruments Total derivatives before netting, collateral adjustments and variation margin $ Variation margin ) — Total derivatives before netting and collateral adjustments Netting adjustments and cash collateral (c) ) ) Total derivative assets and liabilities in the Statements of Condition $ $ Security collateral received from counterparty (d) ) Net exposure $ December 31, 2016 Notional Amount Derivative Assets Derivative Fair value of derivative instruments (a) Derivatives designated in hedging relationships Interest rate swaps-fair value hedges $ $ $ Interest rate swaps-cash flow hedges Total derivatives in hedging instruments Derivatives not designated as hedging instruments Interest rate swaps Interest rate caps or floors — Mortgage delivery commitments Other (b) Total derivatives not designated as hedging instruments Total derivatives before netting and collateral adjustments $ Netting adjustments and cash collateral (c) ) ) Net after cash collateral reported on the Statements of Condition $ $ Security collateral received from counterparty (d) ) Net exposure $ (a) All derivative assets and liabilities with swap dealers and counterparties are collateralized; derivative instruments executed bilaterally are subject to legal right of offset under master netting agreements. (b) The Other category comprised of swaps intermediated for member, and notional amounts represent purchases by us from dealers and an offsetting purchase from us by the member. (c) Cash collateral and related accrued interest posted by counterparties to the FHLBNY of $126.4 million and $354.7 million at June 30, 2017 and December 31, 2016 were netted in Netting adjustments in Derivative assets; cash collateral posted by the FHLBNY of $247.8 million and $256.0 million at June 30, 2017 and December 31, 2016 were netted in Netting adjustments in Derivative liabilities. Until December 31, 2016, variation margin on cleared derivatives were accounted as cash collateral and included in the netting adjustments. Beginning January 1, 2017, variation margin exchanged with the CME, a DCO, is considered as a settlement of the fair value of the open derivative contract. (d) At June 30, 2017 and December 31, 2016 counterparties had pledged U.S. government treasury security as collateral.
Summary of components of net gains/ (losses) on Derivatives and hedging activities as presented in Statements of Income	Components of net gains/(losses) on Derivatives and hedging activities as presented in the Statements of Income are summarized below (in thousands): Three months ended June 30, 2017 2016 Gains (Losses) Gains (Losses) Earnings Effect of Derivatives Gains (Losses) Gains (Losses) Earnings Effect of Derivatives Derivatives designated as hedging instruments Interest rate swaps Advances $ ) $ $ $ ) $ ) $ $ ) $ ) Consolidated obligation bonds ) ) ) Net (losses) gains related to fair value hedges ) ) $ ) ) $ ) Cash flow hedges $ ) — — $ ) Derivatives not designated as hedging instruments Interest rate swaps (a) ) ) Caps or floors ) ) ) ) Mortgage delivery commitments Swaps economically hedging instruments designated under FVO Accrued interest-swaps (a) ) ) ) ) Net gains related to derivatives not designated as hedging instruments Price alignment - cleared swaps settlement to market ) ) — — Net (losses) gains on derivatives and hedging activities $ ) $ $ $ ) $ $ Six months ended June 30, 2017 2016 Gains (Losses) Gains (Losses) Earnings Effect of Derivatives Gains (Losses) Gains (Losses) Earnings Effect of Derivatives Derivatives designated as hedging instruments Interest rate swaps Advances $ $ ) $ $ ) $ ) $ $ $ ) Consolidated obligation bonds ) ) ) Net gains (losses) related to fair value hedges ) ) $ ) ) $ ) Cash flow hedges $ ) ) ) $ ) Derivatives not designated as hedging instruments Interest rate swaps (a) ) ) Caps or floors ) ) ) ) Mortgage delivery commitments Swaps economically hedging instruments designated under FVO Accrued interest-swaps (a) ) ) ) ) Net gains related to derivatives not designated as hedging instruments Price alignment - cleared swaps settlement to market ) ) — — Net gains (losses) on derivatives and hedging activities $ $ ) $ ) $ ) $ $ (a) Derivative gains and losses from interest rate swaps that did not qualify as hedges under accounting rules were designated as economic hedges. Gains and losses include interest expenses and income associated with the interest rate swap.
Schedule of effect of interest rate swaps in cash flow hedging relationships	The effect of interest rate swaps in cash flow hedging relationships was as follows (in thousands): Three months ended June 30, 2017 2016 AOCI AOCI Gains/(Losses) Gains/(Losses) Recognized in (c) Location: (c) Amount (c) Ineffectiveness Recognized in Earnings Recognized in (c) Location: (c) Amount (c) Ineffectiveness Consolidated obligation bonds (a) $ ) Interest Expense $ ) $ $ ) Interest Expense $ ) $ — Consolidated obligation discount notes (b) ) Interest Expense — — ) Interest Expense — — $ (13,786 ) $ ) $ $ ) $ ) $ — Six months ended June 30, 2017 2016 AOCI AOCI Gains/(Losses) Gains/(Losses) Recognized in (c) Location: (c) Amount (c) Ineffectiveness Recognized in (c) Location: (c) Amount (c) Ineffectiveness Consolidated obligation bonds (a) $ ) Interest Expense $ ) $ $ ) Interest Expense $ ) $ ) Consolidated obligation discount notes (b) ) Interest Expense — — ) Interest Expense — — $ (3,700 ) $ ) $ $ ) $ ) $ ) (a) Cash flow hedges of anticipated issuance of consolidated obligation bonds Changes in period recognized in AOCI — Amounts reported typically represent fair value gains and losses recorded in AOCI on this cash flow hedge strategy executed in the reported periods; the hedging contracts may be closed or still outstanding. There were no open contracts at June 30, 2017. Open contracts under this cash flow strategy were $95.0 million notional at December 31, 2016, and $25.0 million at June 30, 2016. Amounts recorded are adjusted for any hedge ineffectiveness on the contracts. In the second quarter of 2017, contracts executed resulted in the recognition in AOCI of net unrecognized losses of $36 thousand (net of ineffectiveness), compared to net unrecognized losses of $702 thousand in the same period in 2016. On a year-to-date basis at June 30, net amounts recorded in AOCI were unrecognized losses of $421 thousand in the 2017 period, compared to $1.7 million in the 2016 period. When this cash flow hedge is closed, the fair value gain or loss on the derivative is recorded in AOCI, and is amortized and reclassified to interest expense with an offset to the cumulative balance in AOCI (See “Amount Reclassified to Earnings”). The balance in AOCI of cumulative net unrecognized gains from hedges of anticipatory issuance strategy was $2.5 million at June 30, 2017, compared to a net gain of $2.3 million at December 31, 2016. Amount Reclassified to Earnings — Amounts represent amortization of unrecognized losses from previously closed contracts that were recorded as a yield adjustment to interest expense and an offset to reduce the unamortized balance in AOCI. Ineffectiveness Recognized in Earnings — Ineffectiveness arising from cash flow hedges executed under this strategy was a net gain of $14 thousand in the second quarter of 2017, and $0 in the same period in 2016. On a year-to-date basis at June 30, ineffectiveness was a net gain of $191 thousand in 2017, compared to a net loss of $47 thousand in the same period in 2016. Ineffectiveness is recorded in earnings as a gain or loss from derivative activities in Other income, while the effective portion is recorded in AOCI, and which amounts are reclassified prospectively as a yield adjustment to debt expense over the term of the debt. (b) Hedges of discount notes in rolling issuances Changes in period recognized in AOCI — Amounts represented period-over-period change in the fair values of open swap contracts in this cash flow hedging strategy (Rolling issuances of discount notes). Open swap contracts under this strategy were notional amounts of $2.2 billion at June 30, 2017, $1.6 billion at June 30, 2016 and $1.8 billion at December 31, 2016. The fair values changes recorded in AOCI were net unrealized losses of $13.7 million and $3.3 million in the three and six months ended June 30, 2017, compared to net unrealized losses of $22.0 million and $77.9 million in the same periods in the prior year. The cash flow hedges mitigated exposure to the variability in future cash flows over a maximum period of 15 years. Cumulative unamortized balance in AOCI — The balance in AOCI of cumulative net unrecognized losses in rolling issuances strategy was $52.6 million at June 30, 2017, $163.1 million at June 30, 2016 and $49.3 million at December 31, 2016. For more information, see Rollforward table below. (c) Ineffectiveness recognized in earnings — The effective portion of the fair values of open contracts is recorded in AOCI. Ineffectiveness is recorded in Other income as a component of derivatives and hedging gains and losses.
Rollforward analysis of fair value changes in AOCI of cash flow hedges	Cash Flow Hedges — Fair Value Changes in AOCI Rollforward Analysis (in thousands): June 30, 2017 December 31, 2016 Rollover Hedge Anticipatory Hedge Rollover Hedge Anticipatory Hedge Beginning balance $ ) $ $ ) $ ) Changes in fair values ) — — Amount reclassified Fair Value - closed contract — ) — Fair Value - open contract — — — Ending balance $ ) $ $ ) $ Notional amount of swaps outstanding $ $ — $ $

Fair Values of Financial Inst44

Fair Values of Financial Instruments. (Tables)	6 Months Ended
	Jun. 30, 2017
Fair Values of Financial Instruments.
Schedule of carrying values, estimated fair values and levels within fair value hierarchy of financial instruments	The carrying values, estimated fair values and the levels within the fair value hierarchy were as follows (in thousands): June 30, 2017 Estimated Fair Value Financial Instruments Carrying Value Total Level 1 Level 2 Level 3 (a) Netting Adjustment and Assets Cash and due from banks $ $ $ $ — $ — $ — Securities purchased under agreements to resell — — — Federal funds sold — — — Trading securities — — — Available-for-sale securities — — Held-to-maturity securities — — Advances — — — Mortgage loans held-for-portfolio, net — — — Accrued interest receivable — — — Derivative assets — — ) Other financial assets — — — Liabilities Deposits — — — Consolidated obligations Bonds — — — Discount notes — — — Mandatorily redeemable capital stock — — — Accrued interest payable — — — Derivative liabilities — — ) Other financial liabilities — — — December 31, 2016 Estimated Fair Value Netting Adjustment and Financial Instruments Carrying Value Total Level 1 Level 2 Level 3 (a) Cash Collateral Assets Cash and due from banks $ $ $ $ — $ — $ — Securities purchased under agreements to resell — — — Federal funds sold — — — Trading securities — — — Available-for-sale securities — — Held-to-maturity securities — — Advances — — — Mortgage loans held-for-portfolio, net — — — Loans to other FHLBanks — — — Accrued interest receivable — — — Derivative assets — — ) Other financial assets — — — Liabilities Deposits — — — Consolidated obligations Bonds — — — Discount notes — — — Mandatorily redeemable capital stock — — — Accrued interest payable — — — Derivative liabilities — — ) Other financial liabilities — — — (a) Level 3 Instruments — The fair values of non-Agency private-label MBS and housing finance agency bonds were estimated by management based on pricing services. Valuations may have required pricing services to use significant inputs that were subjective because of the current lack of significant market activity so that the inputs may not be market based and observable.
Schedule of fair value of assets and liabilities recorded at fair value on a recurring basis, by level within fair value hierarchy	Items Measured at Fair Value on a Recurring Basis (in thousands): June 30, 2017 Total Level 1 Level 2 Level 3 Netting Assets Trading securities GSE securities $ $ — $ $ — $ — Available-for-sale securities GSE/U.S. agency issued MBS — — — Equity and bond funds — — — Advances (to the extent FVO is elected) — — — Derivative assets (a) Interest-rate derivatives — — ) Mortgage delivery commitments — — — Total recurring fair value measurement - assets $ $ $ $ — $ ) Liabilities Consolidated obligations: Discount notes (to the extent FVO is elected) $ ) $ — $ ) $ — $ — Bonds (to the extent FVO is elected) (b) ) — ) — — Derivative liabilities (a) Interest-rate derivatives ) — ) — Mortgage delivery commitments ) — ) — — Total recurring fair value measurement - liabilities $ ) $ — $ ) $ — $ December 31, 2016 Total Level 1 Level 2 Level 3 Netting Assets Trading securities GSE securities $ $ — $ $ — $ — U.S. treasury securities — — — Available-for-sale securities GSE/U.S. agency issued MBS — — — Equity and bond funds — — — Advances (to the extent FVO is elected) — — — Derivative assets (a) Interest-rate derivatives — — ) Mortgage delivery commitments — — — Total recurring fair value measurement - assets $ $ $ $ — $ ) Liabilities Consolidated obligations: Discount notes (to the extent FVO is elected) $ ) $ — $ ) $ — $ — Bonds (to the extent FVO is elected) (b) ) — ) — — Derivative liabilities (a) Interest-rate derivatives ) — ) — Mortgage delivery commitments ) — ) — — Total recurring fair value measurement - liabilities $ ) $ — $ ) $ — $ (a) Based on analysis of the nature of the risk, the presentation of derivatives as a single class is appropriate. (b) Based on analysis of the nature of risks of consolidated obligation bonds measured at fair value, the FHLBNY has determined that presenting the bonds as a single class is appropriate.
Schedule of items measured at fair value on a nonrecurring basis, by level within fair value hierarchy	Items Measured at Fair Value on a Non-recurring Basis (in thousands): June 30, 2017 Fair Value Level 1 Level 2 Level 3 Mortgage loans held-for-portfolio $ $ — $ $ — Real estate owned — — Total non-recurring assets at fair value $ $ — $ $ December 31, 2016 Fair Value Level 1 Level 2 Level 3 Mortgage loans held-for-portfolio $ $ — $ $ — Real estate owned — — Total non-recurring assets at fair value $ $ — $ $
Summary of activity related to financial instruments for which fair value option elected	The following tables summarize the activity related to financial instruments for which the FHLBNY elected the fair value option (in thousands): Three months ended June 30 2017 2016 2017 2016 2017 2016 Advances Bonds Discount Notes Balance, beginning of the period $ $ $ ) $ ) $ ) $ ) New transactions elected for fair value option — — ) — ) Maturities and terminations ) ) Net (losses) on financial instruments held under fair value option ) ) ) ) ) ) Change in accrued interest/unaccreted balance ) ) ) Balance, end of the period $ $ $ ) $ ) $ ) $ ) Six months ended June 30 2017 2016 2017 2016 2017 2016 Advances Bonds Discount Notes Balance, beginning of the period $ $ $ ) $ ) $ ) $ ) New transactions elected for fair value option — ) ) ) Maturities and terminations ) ) Net (losses) gains on financial instruments held under fair value option ) ) ) Change in accrued interest/unaccreted balance ) Balance, end of the period $ $ $ ) $ ) $ ) $ )
Schedule of change in fair value included in Statements of Income for financial instruments for which fair value option elected	The following tables present the change in fair value included in the Statements of Income for financial instruments for which the fair value option has been elected (in thousands): Three months ended June 30, 2017 2016 Interest Income Net losses Due Total Change in Fair Interest Income Net losses Due Total Change in Fair Advances $ $ ) $ $ $ ) $ Six months ended June 30, 2017 2016 Interest Income Net losses Due Total Change in Fair Interest Income Net gains Due Total Change in Fair Advances $ $ ) $ $ $ $ Three months ended June 30, 2017 2016 Interest Expense Net Losses Due Total Change in Fair Interest Expense Net Losses Due Total Change in Fair Consolidated obligation bonds $ ) $ ) $ ) $ ) $ ) $ ) Consolidated obligation discount notes ) ) ) ) ) ) $ ) $ ) $ ) $ ) $ ) $ ) Six months ended June 30, 2017 2016 Interest Expense Net Gains Due Total Change in Fair Interest Expense Net Losses Due Total Change in Fair Consolidated obligation bonds $ ) $ $ ) $ ) $ ) $ ) Consolidated obligation discount notes ) ) ) ) ) $ ) $ $ ) $ ) $ ) $ )
Schedule of comparison of aggregate fair value and aggregate remaining contractual principal balance outstanding of financial instruments for which fair value option elected	The following tables compare the aggregate fair value and aggregate remaining contractual principal balance outstanding of financial instruments for which the fair value option has been elected (in thousands): June 30, 2017 December 31, 2016 Aggregate Aggregate Fair Fair Value Aggregate Aggregate Fair Fair Value Advances (a) $ $ $ $ $ $ Consolidated obligation bonds (b) $ $ $ $ $ $ Consolidated obligation discount notes (c) $ $ $ $ $ $ (a) Advances — The FHLBNY has elected the FVO for certain advances, primarily short- and intermediate term floating-rate advances and intermediate-term fixed-rate advances. The elections were made primarily as a natural fair value offset to debt elected under the FVO. (b) The FHLBNY has elected the FVO for certain short-term callable and non-callable bonds because management was not able to assert with confidence that the debt would qualify for hedge accounting as such short-term debt, specifically with call options, may not remain highly effective hedges through the maturity of the bonds. (c) Discount notes were elected under the FVO because management was not able to assert with confidence that the debt would qualify for hedge accounting as the short-term discount note debt may not remain highly effective hedges through maturity.

Commitments and Contingencies.

Commitments and Contingencies. (Tables)	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies.
Summary of contractual obligations and contingencies	The following table summarizes contractual obligations and contingencies as of June 30, 2017 (in thousands): June 30, 2017 Payments Due or Expiration Terms by Period Greater Than Greater Than Less Than One Year Three Years Greater Than One Year to Three Years to Five Years Five Years Total Contractual Obligations Consolidated obligation bonds at par (a) $ $ $ $ $ Consolidated obligation discount notes at par — — — Mandatorily redeemable capital stock (a) Premises (lease obligations) (b) Other liabilities (c) Total contractual obligations Other commitments Standby letters of credit — — Consolidated obligation bonds/discount notes traded not settled — — — Open delivery commitments (MPF) — — — Total other commitments — — Total obligations and commitments $ $ $ $ $ (a) Callable bonds contain an exercise date or a series of exercise dates that may result in a shorter redemption period. Redemption dates of mandatorily redeemable capital stock are assumed to correspond to maturity dates of member advances. Excess capital stock is redeemed at that time, and hence, these dates better represent the related commitments than the put dates associated with capital stock. (b) We executed a new lease for the New York City office, which we occupied in June 2017. The Bank plans to adopt ASU 2016-02, Leases (Topic 842) in 2019. Upon adoption the lease obligation will be recorded in the Statements of Condition. Until then, lease obligations will continue to be reported as commitments under existing GAAP. (c) Includes accounts payable and accrued expenses, Pass-through reserves at the FRB on behalf of certain members of the FHLBNY recorded in Other liabilities. Also includes projected payment obligations for pension plans. Where it was not possible to estimate the exact timing of payment obligations, they were assumed to be due within one year; amounts were not material. For more information about employee retirement plans in general, see Note 15. Employee Retirement Plans.

Related Party Transactions. (Ta

Related Party Transactions. (Tables)	6 Months Ended
	Jun. 30, 2017
Related Party Transactions.
Summary of significant balances and transactions with related parties	The following tables summarize significant balances with related parties at June 30, 2017 and December 31, 2016, and transactions for the three and six months ended June 30, 2017 and June 30, 2016 (in thousands): Related Party: Outstanding Assets, Liabilities and Capital June 30, 2017 December 31, 2016 Related Related Assets Advances $ $ Loans to other FHLBanks — Accrued interest receivable Liabilities and capital Deposits $ $ Mandatorily redeemable capital stock Accrued interest payable Affordable Housing Program (a) Other liabilities (b) Capital $ $ (a) Represents funds not yet allocated or disbursed to AHP programs. (b) Related column includes member pass-through reserves at the Federal Reserve Bank of New York. Related Party: Income and Expense Transactions Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Related Related Related Related Interest income Advances $ $ $ $ Loans to other FHLBanks Interest expense Deposits $ $ $ $ Mandatorily redeemable capital stock Service fees and other $ $ $ $

Segment Information and Conce47

Segment Information and Concentration. (Tables)	6 Months Ended
	Jun. 30, 2017
Par Value of Advances | Credit concentration risk
Segment Information and Concentration
Summary of concentrations	The top ten advance holders at June 30, 2017, December 31, 2016 and June 30, 2016 and associated interest income for the periods then ended are summarized as follows (dollars in thousands): June 30, 2017 Percentage of Three Months Six Months Par Total Par Value Interest Interest City State Advances of Advances Income Percentage (a) Income Percentage (a) Citibank, N.A. New York NY $ % $ % $ % Metropolitan Life Insurance Company New York NY New York Community Bancorp, Inc.: New York Community Bank Westbury NY New York Commercial Bank Westbury NY Subtotal New York Community Bancorp, Inc. HSBC Bank USA, National Association (c) Mc Lean VA Investors Bank (b) Short Hills NJ Morgan Stanley Private Bank, NA Purchase NY Valley National Bank (b) Wayne NJ AXA Equitable Life Insurance Company New York NY Signature Bank New York NY New York Life Insurance Company New York NY Total $ % $ % $ % (a) Interest income percentage is the member’s interest income from advances as a percentage of the top 10 members. (b) At June 30, 2017, officer of member bank also served on the Board of Directors of the FHLBNY. (c) For Bank membership purposes, principal place of business is New York, NY. December 31, 2016 Percentage of Par Total Par Value Twelve Months City State Advances of Advances Interest Income Percentage (a) Citibank, N.A. New York NY $ % $ % Metropolitan Life Insurance Company New York NY New York Community Bancorp, Inc.: New York Community Bank Westbury NY New York Commercial Bank Westbury NY Subtotal New York Community Bancorp, Inc. HSBC Bank USA, National Association (c) McLean VA Investors Bank (b) Short Hills NJ Goldman Sachs Bank USA New York NY New York Life Insurance Company New York NY AXA Equitable Life Insurance Company New York NY Astoria Bank (b) Lake Success NY Signature Bank New York NY Total $ % $ % (a) Interest income percentage is the member’s interest income from advances as a percentage of the top 10 members. (b) At December 31, 2016, officer of member bank also served on the Board of Directors of the FHLBNY. (c) For Bank membership purposes, principal place of business is New York, NY. June 30, 2016 Percentage of Three Months Six Months Par Total Par Value Interest Interest City State Advances of Advances Income Percentage (a) Income Percentage (a) Citibank, N.A. New York NY $ % $ % $ % Metropolitan Life Insurance Company New York NY New York Community Bancorp, Inc.: New York Community Bank Westbury NY New York Commercial Bank Westbury NY Subtotal New York Community Bancorp, Inc. HSBC Bank USA, National Association (c) McLean VA First Niagara Bank, National Association Buffalo NY Investors Bank (b) Short Hills NJ Goldman Sachs Bank USA New York NY Signature Bank New York NY Astoria Bank (b) Lake Success NY Valley National Bank (b) Wayne NJ Total $ % $ % $ % (a) Interest income percentage is the member’s interest income from advances as a percentage of the top 10 members. (b) At June 30, 2016, officer of member bank also served on the Board of Directors of the FHLBNY. (c) For Bank membership purposes, principal place of business is New York, NY.

Background, Tax Status. Asses48

Background, Tax Status. Assessments. (Details) $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)Institution
Background, Tax Status. Assessments.
Number of Federal Home Loan Banks in a defined geographic district	1
Number of FHLBanks	11
Minimum amount annually set aside for Affordable Housing Program | $	$ 100
Minimum amount annually set aside for Affordable Housing Program as a percentage of the regulatory defined net income (as a percent)	10.00%

Cash and Due from Banks. (Detai

Cash and Due from Banks. (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Compensating Balances
Amount of compensating balance restricted as to withdrawal	$ 0
Compensating balance	52	$ 90.4
Pass-through Deposit Reserves
Pass-through reserves of member institutions deposited with Federal Reserve Banks	$ 74.3	$ 67.7

Federal Funds Sold and Securi50

Federal Funds Sold and Securities Purchased Under Agreements to Resell. - Securities Purchased Under Agreements to Resell Balances and Collateral (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Securities purchased under agreements to resell
Adjustments for instrument-specific credit risk	$ 0		$ 0		$ 0
Securities purchased under agreements to resell balances outstanding	5,175,000		5,175,000		7,150,000
Average transaction balances of securities purchased under agreements to resell	2,400,000	$ 1,700,000	2,400,000	$ 2,400,000
Interest income
Securities purchased under agreements to resell	5,008	$ 1,315	8,313	$ 3,520
BONY | Securities pledged as collateral | U.S. Treasury securities
Securities purchased under agreements to resell
Securities purchased under agreements to resell pledged as collateral	5,200,000		5,200,000		7,200,000
Bilateral counterparties
Securities purchased under agreements to resell
Securities purchased under agreements to resell balances outstanding	$ 0		$ 0		$ 0

Trading Securities. (Details)

Trading Securities. (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Trading Securities.
Trading securities	$ 30,911	$ 131,151
Unrealized fair value losses included in carrying values of trading securities	26
Unrealized fair value gains included in carrying values of trading securities		100
Estimated fair value of investments classified as trading securities, by contractual maturity
Due in one year or less	30,911	131,151
Total non-mortgage-backed trading securities	$ 30,911	$ 131,151
Yield on trading securities	0.96%	0.90%
GSE securities
Trading Securities.
Trading securities	$ 30,911	$ 30,969
Estimated fair value of investments classified as trading securities, by contractual maturity
Due in one year or less	30,911	30,969
Total non-mortgage-backed trading securities	$ 30,911	30,969
U.S. treasury notes
Trading Securities.
Trading securities		100,182
Estimated fair value of investments classified as trading securities, by contractual maturity
Due in one year or less		100,182
Total non-mortgage-backed trading securities		$ 100,182

Available-for-Sale Securities52

Available-for-Sale Securities. - Amortized Cost to Fair Value by Major Security Types and Other Income Activity from Grantor Trust (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Available-for-Sale Securities
Other-than-temporarily impaired AFS securities	$ 0	$ 0
Amortized cost	624,992	693,588	$ 624,992		$ 624,992
Gross unrealized gains	9,377	5,216	9,377		9,377
Gross unrealized losses	(273)	(992)	(273)		(273)
Fair value	634,096	697,812	634,096		634,096
Net unrealized fair value gains recorded in AOCI	9,104	4,224	9,104		9,104
Grantor trust | Other Income
Available-for-Sale Securities
Dividend income and net realized gain from sales of funds			500	$ 200	700	$ 300
Cash equivalents
Available-for-Sale Securities
Amortized cost	1,303	551	1,303		1,303
Fair value	1,303	551	1,303		1,303
Equity funds
Available-for-Sale Securities
Amortized cost	23,188	22,667	23,188		23,188
Gross unrealized gains	3,821	1,699	3,821		3,821
Gross unrealized losses	(45)	(417)	(45)		(45)
Fair value	26,964	23,949	26,964		26,964
Fixed income funds
Available-for-Sale Securities
Amortized cost	17,975	17,642	17,975		17,975
Gross unrealized gains	16		16		16
Gross unrealized losses	(228)	(424)	(228)		(228)
Fair value	17,763	17,218	17,763		17,763
GSE and U.S. Obligations | CMOs | Floating
Available-for-Sale Securities
Amortized cost	549,079	616,359	549,079		549,079
Gross unrealized gains	5,467	3,436	5,467		5,467
Gross unrealized losses		(151)
Fair value	554,546	619,644	554,546		554,546
GSE and U.S. Obligations | Commercial Mortgage-Backed Securities (CMBS) | Floating
Available-for-Sale Securities
Amortized cost	33,447	36,369	33,447		33,447
Gross unrealized gains	73	81	73		73
Fair value	$ 33,520	$ 36,450	$ 33,520		$ 33,520

Available-for-Sale Securities53

Available-for-Sale Securities. - MBS in an Unrealized Loss Position (Details) $ in Millions	Jun. 30, 2017USD ($)
Mortgage-backed securities (MBS)
Unrealized Losses
Security in a loss position for 12 month or longer	$ 0

Available-for-Sale Securities54

Available-for-Sale Securities. - Redemption Terms (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Amortized cost
Amortized cost	$ 624,992	$ 693,588
Estimated fair value
Fair value	634,096	697,812
Net unamortized discounts	2,100	2,400
Mortgage-backed securities (MBS)
Amortized cost
Due after one year through five years	33,447	36,369
Due after ten years	549,079	616,359
Estimated fair value
Due after one year through five years	33,520	36,450
Due after ten years	554,546	619,644
Fixed income/bond funds, equity funds and cash equivalents
Amortized cost
Amortized cost	42,466	40,860
Estimated fair value
Fair value	$ 46,030	$ 41,718

Available-for-Sale Securities55

Available-for-Sale Securities. - Interest Rate Payment Terms (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Summary of available-for-sale securities by interest rate payment terms
Amortized cost	$ 624,992	$ 693,588
Fair value	634,096	697,812
GSE and U.S. Obligations | CMOs | Floating
Summary of available-for-sale securities by interest rate payment terms
Amortized cost	549,079	616,359
Fair value	554,546	619,644
GSE and U.S. Obligations | Commercial Mortgage-Backed Securities (CMBS) | Floating
Summary of available-for-sale securities by interest rate payment terms
Amortized cost	33,447	36,369
Fair value	33,520	36,450
GSE and U.S. Obligations | Mortgage-backed securities (MBS)
Summary of available-for-sale securities by interest rate payment terms
Amortized cost	582,526	652,728
Fair value	$ 588,066	$ 656,094

Held-to-Maturity Securities. -

Held-to-Maturity Securities. - Amortized Cost to Fair Value by Major Security Types and Securities Pledged (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Held-to-maturity-securities, reconciliation of amortized cost basis to fair value
Amortized Cost	$ 17,129,884	$ 16,052,527
OTTI Recognized in AOCI	(23,096)	(30,234)
Carrying Value	17,106,788	16,022,293
Gross Unrecognized Holding Gains	225,784	201,190
Gross Unrecognized Holding Losses	(55,339)	(76,512)
Fair Value	17,277,233	16,146,971
Pools of Mortgages
Held-to-maturity-securities, reconciliation of amortized cost basis to fair value
Amortized Cost	138,183	165,473
Carrying Value	138,183	165,473
Gross Unrecognized Holding Gains	11,936	13,926
Fair Value	150,119	179,399
Pools of Mortgages | Fannie Mae
Held-to-maturity-securities, reconciliation of amortized cost basis to fair value
Amortized Cost	112,351	133,071
Carrying Value	112,351	133,071
Gross Unrecognized Holding Gains	9,998	11,601
Fair Value	122,349	144,672
Pools of Mortgages | Freddie Mac
Held-to-maturity-securities, reconciliation of amortized cost basis to fair value
Amortized Cost	25,832	32,402
Carrying Value	25,832	32,402
Gross Unrecognized Holding Gains	1,938	2,325
Fair Value	27,770	34,727
Collateralized Mortgage Obligations/Real Estate Mortgage Investment Conduits | GSE
Held-to-maturity-securities, reconciliation of amortized cost basis to fair value
Amortized Cost	2,915,129	3,206,680
Carrying Value	2,915,129	3,206,680
Gross Unrecognized Holding Gains	24,900	11,896
Gross Unrecognized Holding Losses	(194)	(1,577)
Fair Value	2,939,835	3,216,999
Collateralized Mortgage Obligations/Real Estate Mortgage Investment Conduits | Fannie Mae
Held-to-maturity-securities, reconciliation of amortized cost basis to fair value
Amortized Cost	1,816,919	1,972,878
Carrying Value	1,816,919	1,972,878
Gross Unrecognized Holding Gains	16,525	7,538
Gross Unrecognized Holding Losses	(149)	(1,015)
Fair Value	1,833,295	1,979,401
Collateralized Mortgage Obligations/Real Estate Mortgage Investment Conduits | Freddie Mac
Held-to-maturity-securities, reconciliation of amortized cost basis to fair value
Amortized Cost	1,081,735	1,214,823
Carrying Value	1,081,735	1,214,823
Gross Unrecognized Holding Gains	8,212	4,232
Gross Unrecognized Holding Losses	(45)	(561)
Fair Value	1,089,902	1,218,494
Collateralized Mortgage Obligations/Real Estate Mortgage Investment Conduits | Ginnie Mae
Held-to-maturity-securities, reconciliation of amortized cost basis to fair value
Amortized Cost	16,475	18,979
Carrying Value	16,475	18,979
Gross Unrecognized Holding Gains	163	126
Gross Unrecognized Holding Losses		(1)
Fair Value	16,638	19,104
Collateralized Mortgage Obligations/Real Estate Mortgage Investment Conduits | Private-label MBS
Held-to-maturity-securities, reconciliation of amortized cost basis to fair value
Amortized Cost	11,162	15,844
OTTI Recognized in AOCI	(188)	(285)
Carrying Value	10,974	15,559
Gross Unrecognized Holding Gains	105	1,372
Gross Unrecognized Holding Losses	(335)	(1,001)
Fair Value	10,744	15,930
Commercial Mortgage-Backed Securities (CMBS) | GSE
Held-to-maturity-securities, reconciliation of amortized cost basis to fair value
Amortized Cost	12,730,862	11,353,261
Carrying Value	12,730,862	11,353,261
Gross Unrecognized Holding Gains	141,657	117,007
Gross Unrecognized Holding Losses	(17,083)	(34,998)
Fair Value	12,855,436	11,435,270
Commercial Mortgage-Backed Securities (CMBS) | Fannie Mae
Held-to-maturity-securities, reconciliation of amortized cost basis to fair value
Amortized Cost	3,055,063	2,612,688
Carrying Value	3,055,063	2,612,688
Gross Unrecognized Holding Gains	16,571	9,870
Gross Unrecognized Holding Losses	(10,034)	(15,660)
Fair Value	3,061,600	2,606,898
Commercial Mortgage-Backed Securities (CMBS) | Freddie Mac
Held-to-maturity-securities, reconciliation of amortized cost basis to fair value
Amortized Cost	9,675,799	8,740,573
Carrying Value	9,675,799	8,740,573
Gross Unrecognized Holding Gains	125,086	107,137
Gross Unrecognized Holding Losses	(7,049)	(19,338)
Fair Value	9,793,836	8,828,372
Asset-Backed Securities
Held-to-maturity-securities, reconciliation of amortized cost basis to fair value
Amortized Cost	219,328	247,769
OTTI Recognized in AOCI	(22,908)	(29,949)
Carrying Value	196,420	217,820
Gross Unrecognized Holding Gains	46,976	56,793
Gross Unrecognized Holding Losses	(1,577)	(1,923)
Fair Value	241,819	272,690
Manufactured housing loans | Insured
Held-to-maturity-securities, reconciliation of amortized cost basis to fair value
Amortized Cost	54,270	61,293
Carrying Value	54,270	61,293
Gross Unrecognized Holding Gains	2,015	2,258
Gross Unrecognized Holding Losses	(80)
Fair Value	56,205	63,551
Home equity loans | Insured
Held-to-maturity-securities, reconciliation of amortized cost basis to fair value
Amortized Cost	106,164	119,527
OTTI Recognized in AOCI	(16,182)	(22,434)
Carrying Value	89,982	97,093
Gross Unrecognized Holding Gains	36,309	45,228
Gross Unrecognized Holding Losses	(48)	(70)
Fair Value	126,243	142,251
Home equity loans | Uninsured
Held-to-maturity-securities, reconciliation of amortized cost basis to fair value
Amortized Cost	58,894	66,949
OTTI Recognized in AOCI	(6,726)	(7,515)
Carrying Value	52,168	59,434
Gross Unrecognized Holding Gains	8,652	9,307
Gross Unrecognized Holding Losses	(1,449)	(1,853)
Fair Value	59,371	66,888
Mortgage-backed securities (MBS)
Held-to-maturity-securities, reconciliation of amortized cost basis to fair value
Amortized Cost	16,014,664	14,989,027
OTTI Recognized in AOCI	(23,096)	(30,234)
Carrying Value	15,991,568	14,958,793
Gross Unrecognized Holding Gains	225,574	200,994
Gross Unrecognized Holding Losses	(19,189)	(39,499)
Fair Value	16,197,953	15,120,288
Amortized cost of pledged MBS in connection with deposits maintained by the FDIC at the Bank	6,300	7,000
State and local housing finance agency obligations
Held-to-maturity-securities, reconciliation of amortized cost basis to fair value
Amortized Cost	1,115,220	1,063,500
Carrying Value	1,115,220	1,063,500
Gross Unrecognized Holding Gains	210	196
Gross Unrecognized Holding Losses	(36,150)	(37,013)
Fair Value	$ 1,079,280	$ 1,026,683

Held-to-Maturity Securities. 57

Held-to-Maturity Securities. - Fair Values Below their Amortized Cost Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Less than 12 months
Estimated Fair Value	$ 1,398,265	$ 3,418,188
Unrealized Losses	(15,718)	(27,750)
12 months or more
Estimated Fair Value	1,285,934	2,119,085
Unrealized Losses	(39,804)	(48,270)
Total
Estimated Fair Value	2,684,199	5,537,273
Unrealized Losses	(55,522)	(76,020)
State and local housing finance agency obligations
Less than 12 months
Estimated Fair Value	222,944	29,486
Unrealized Losses	(56)	(13)
12 months or more
Estimated Fair Value	347,616	355,230
Unrealized Losses	(36,094)	(37,000)
Total
Estimated Fair Value	570,560	384,716
Unrealized Losses	(36,150)	(37,013)
Mortgage-backed securities (MBS)
Less than 12 months
Estimated Fair Value	1,175,321	3,388,702
Unrealized Losses	(15,662)	(27,737)
12 months or more
Estimated Fair Value	938,318	1,763,855
Unrealized Losses	(3,710)	(11,270)
Total
Estimated Fair Value	2,113,639	5,152,557
Unrealized Losses	(19,372)	(39,007)
Mortgage-backed securities (MBS) | Fannie Mae
Less than 12 months
Estimated Fair Value	564,601	1,131,586
Unrealized Losses	(9,979)	(15,615)
12 months or more
Estimated Fair Value	185,702	359,921
Unrealized Losses	(204)	(1,060)
Total
Estimated Fair Value	750,303	1,491,507
Unrealized Losses	(10,183)	(16,675)
Mortgage-backed securities (MBS) | Freddie Mac
Less than 12 months
Estimated Fair Value	598,579	2,245,856
Unrealized Losses	(5,603)	(12,111)
12 months or more
Estimated Fair Value	712,152	1,364,856
Unrealized Losses	(1,491)	(7,788)
Total
Estimated Fair Value	1,310,731	3,610,712
Unrealized Losses	(7,094)	(19,899)
Mortgage-backed securities (MBS) | Ginnie Mae
Less than 12 months
Estimated Fair Value		3,828
Unrealized Losses		(1)
Total
Estimated Fair Value		3,828
Unrealized Losses		(1)
Mortgage-backed securities (MBS) | MBS-GSE
Less than 12 months
Estimated Fair Value	1,163,180	3,381,270
Unrealized Losses	(15,582)	(27,727)
12 months or more
Estimated Fair Value	897,854	1,724,777
Unrealized Losses	(1,695)	(8,848)
Total
Estimated Fair Value	2,061,034	5,106,047
Unrealized Losses	(17,277)	(36,575)
Mortgage-backed securities (MBS) | Private-label MBS
Less than 12 months
Estimated Fair Value	12,141	7,432
Unrealized Losses	(80)	(10)
12 months or more
Estimated Fair Value	40,464	39,078
Unrealized Losses	(2,015)	(2,422)
Total
Estimated Fair Value	52,605	46,510
Unrealized Losses	$ (2,095)	$ (2,432)

Held-to-Maturity Securities. 58

Held-to-Maturity Securities. - Redemption Terms (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Amortized Cost
Amortized cost	$ 17,129,884	$ 16,052,527
Estimated Fair Value
Fair Value	17,277,233	16,146,971
Net unamortized premiums	38,400	36,600
State and local housing finance agency obligations
Amortized Cost
Due after one year through five years	17,100	22,800
Due after five years through ten years	54,810	57,660
Due after ten years	1,043,310	983,040
Amortized cost	1,115,220	1,063,500
Estimated Fair Value
Due after one year through five years	17,023	22,552
Due after five years through ten years	52,452	55,095
Due after ten years	1,009,805	949,036
Fair Value	1,079,280	1,026,683
Mortgage-backed securities (MBS)
Amortized Cost
Due in one year or less	573,618	101,348
Due after one year through five years	4,786,782	4,689,552
Due after five years through ten years	7,346,418	6,602,905
Due after ten years	3,307,846	3,595,222
Amortized cost	16,014,664	14,989,027
Estimated Fair Value
Due in one year or less	575,850	102,474
Due after one year through five years	4,885,773	4,786,141
Due after five years through ten years	7,369,597	6,587,939
Due after ten years	3,366,733	3,643,734
Fair Value	$ 16,197,953	$ 15,120,288

Held-to-Maturity Securities. 59

Held-to-Maturity Securities. - Interest Rate Payment Terms (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Interest Rate Payment Terms
Amortized Cost	$ 17,129,884	$ 16,052,527
Carrying Value	17,106,788	16,022,293
CMOs
Interest Rate Payment Terms
Amortized Cost	2,923,599	3,218,684
Carrying Value	2,923,411	3,218,400
CMOs | Fixed
Interest Rate Payment Terms
Amortized Cost	1,000,135	1,117,308
Carrying Value	999,947	1,117,023
CMOs | Floating
Interest Rate Payment Terms
Amortized Cost	1,923,464	2,101,376
Carrying Value	1,923,464	2,101,377
Commercial Mortgage-Backed Securities (CMBS) | GSE
Interest Rate Payment Terms
Amortized Cost	12,730,862	11,353,261
Carrying Value	12,730,862	11,353,261
Commercial Mortgage-Backed Securities (CMBS) | GSE | Fixed
Interest Rate Payment Terms
Amortized Cost	6,666,690	5,838,381
Carrying Value	6,666,690	5,838,381
Commercial Mortgage-Backed Securities (CMBS) | GSE | Floating
Interest Rate Payment Terms
Amortized Cost	6,064,172	5,514,880
Carrying Value	6,064,172	5,514,880
Pass Thru
Interest Rate Payment Terms
Amortized Cost	360,203	417,082
Carrying Value	337,295	387,132
Pass Thru | Fixed
Interest Rate Payment Terms
Amortized Cost	310,176	360,255
Carrying Value	287,878	330,968
Pass Thru | Floating
Interest Rate Payment Terms
Amortized Cost	50,027	56,827
Carrying Value	49,417	56,164
Mortgage-backed securities (MBS)
Interest Rate Payment Terms
Amortized Cost	16,014,664	14,989,027
Carrying Value	15,991,568	14,958,793
State and local housing finance agency obligations
Interest Rate Payment Terms
Amortized Cost	1,115,220	1,063,500
Carrying Value	1,115,220	1,063,500
State and local housing finance agency obligations | Fixed
Interest Rate Payment Terms
Amortized Cost	8,530	9,790
Carrying Value	8,530	9,790
State and local housing finance agency obligations | Floating
Interest Rate Payment Terms
Amortized Cost	1,106,690	1,053,710
Carrying Value	$ 1,106,690	$ 1,053,710

Held-to-Maturity Securities. 60

Held-to-Maturity Securities. - Rollforward Information about Cumulative Credit Component of OTTI Charged to Earnings (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
OTTI
OTTI recorded	$ 0	$ 138	$ 0	$ 146
Rollforward information about credit component of OTTI recognized as a charge to earnings
Beginning balance	26,822	31,132	29,117	31,892
Additional credit losses for which an OTTI charge was previously recognized		138		146
Realized credit losses	(269)		(269)
Increases in cash flows expected to be collected, recognized over the remaining life of the securities	(736)	(763)	(3,031)	(1,531)
Ending balance	25,817	$ 30,507	25,817	$ 30,507
Private-label MBS | MBIA
Other than temporary impairment
Financial guarantees assumed	$ 0		$ 0
Private-label MBS | Ambac | Maximum
Other than temporary impairment
Percentage of shortfall in reliance period for insurance guarantees			45.00%

Held-to-Maturity Securities. 61

Held-to-Maturity Securities. - Key Base Assumptions for Private-Label MBS (Details) - Private-label MBS	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Residential mortgage-backed securities | Minimum | Prime
Key Base Assumptions
Conditional Default Rate (as a percent)	0.00%	0.10%
Conditional Prepayment Rate (as a percent)	4.00%	7.50%
Loss Severity (as a percent)	0.00%	0.00%
Residential mortgage-backed securities | Minimum | Alt-A
Key Base Assumptions
Conditional Default Rate (as a percent)	1.00%	1.00%
Conditional Prepayment Rate (as a percent)	2.00%	2.00%
Loss Severity (as a percent)	30.00%	30.00%
Residential mortgage-backed securities | Maximum | Prime
Key Base Assumptions
Conditional Default Rate (as a percent)	5.20%	5.20%
Conditional Prepayment Rate (as a percent)	16.30%	14.80%
Loss Severity (as a percent)	97.40%	70.80%
Residential mortgage-backed securities | Maximum | Alt-A
Key Base Assumptions
Conditional Default Rate (as a percent)	2.10%	2.70%
Conditional Prepayment Rate (as a percent)	4.60%	4.20%
Loss Severity (as a percent)	30.00%	30.00%
Residential mortgage-backed securities | Weighted Average | Prime
Key Base Assumptions
Conditional Default Rate (as a percent)	1.50%	2.20%
Conditional Prepayment Rate (as a percent)	8.20%	10.70%
Loss Severity (as a percent)	65.40%	45.40%
Residential mortgage-backed securities | Weighted Average | Alt-A
Key Base Assumptions
Conditional Default Rate (as a percent)	1.20%	1.20%
Conditional Prepayment Rate (as a percent)	2.50%	2.80%
Loss Severity (as a percent)	30.00%	30.00%
Home equity loans | Minimum | Subprime
Key Base Assumptions
Conditional Default Rate (as a percent)	1.20%	1.00%
Conditional Prepayment Rate (as a percent)	2.00%	2.00%
Loss Severity (as a percent)	30.00%	30.00%
Home equity loans | Maximum | Subprime
Key Base Assumptions
Conditional Default Rate (as a percent)	7.60%	12.30%
Conditional Prepayment Rate (as a percent)	17.80%	16.30%
Loss Severity (as a percent)	100.00%	100.00%
Home equity loans | Weighted Average | Subprime
Key Base Assumptions
Conditional Default Rate (as a percent)	3.80%	3.90%
Conditional Prepayment Rate (as a percent)	4.20%	4.10%
Loss Severity (as a percent)	64.10%	62.90%
Manufactured housing loans | Minimum
Key Base Assumptions
Conditional Default Rate (as a percent)	3.10%	2.50%
Conditional Prepayment Rate (as a percent)	2.00%	2.70%
Loss Severity (as a percent)	79.40%	77.10%
Manufactured housing loans | Maximum
Key Base Assumptions
Conditional Default Rate (as a percent)	4.00%	3.30%
Conditional Prepayment Rate (as a percent)	5.30%	4.10%
Loss Severity (as a percent)	92.70%	88.40%
Manufactured housing loans | Weighted Average
Key Base Assumptions
Conditional Default Rate (as a percent)	3.80%	3.10%
Conditional Prepayment Rate (as a percent)	2.80%	3.10%
Loss Severity (as a percent)	89.70%	85.40%

Advances. - Redemption Terms (D

Advances. - Redemption Terms (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Amount
Overdrawn demand deposit accounts		$ 1,388
Due in one year or less	$ 71,855,942	50,260,910
Due after one year through two years	25,645,985	34,111,721
Due after two years through three years	10,179,523	11,078,731
Due after three years through four years	3,857,893	6,467,290
Due after four years through five years	3,502,495	3,106,275
Thereafter	2,902,317	4,214,677
Total par value	117,944,155	109,240,992
Hedge valuation basis adjustments	(16,870)	1,980
Fair value option valuation adjustments and accrued interest	6,721	13,653
Total	$ 117,934,006	$ 109,256,625
Weighted Average Yield
Overdrawn demand deposit accounts (as a percent)		1.49%
Due in one year or less (as a percent)	1.38%	1.01%
Due after one year through two years (as a percent)	1.59%	1.39%
Due after two years through three years (as a percent)	1.94%	1.67%
Due after three years through four years (as a percent)	1.95%	2.03%
Due after four years through five years (as a percent)	2.49%	2.16%
Thereafter (as a percent)	2.16%	2.28%
Total par value (as a percent)	1.54%	1.34%
Percentage of Total
Due in one year or less (as a percent)	60.92%	46.01%
Due after one year through two years (as a percent)	21.75%	31.23%
Due after two years through three years (as a percent)	8.63%	10.14%
Due after three years through four years (as a percent)	3.27%	5.92%
Due after four years through five years (as a percent)	2.97%	2.84%
Thereafter (as a percent)	2.46%	3.86%
Total par value (as a percent)	100.00%	100.00%

Advances. - Concentration of Ad

Advances. - Concentration of Advances Outstanding and Security Terms (Details) $ in Thousands	Jun. 30, 2017USD ($)Institution	Dec. 31, 2016USD ($)Institution	Jun. 30, 2016Institution	Jun. 30, 2017USD ($)Institutionitem
Segment Information and Concentration
Past due advances | $	$ 0	$ 0		$ 0
Security terms
Number of exceptions | item				2
Par Value of Advances | Credit concentration risk | Top ten advance holders
Segment Information and Concentration
Number of borrowing member institutions | Institution	10	10	10	10
Concentration risk percentage	71.99%	74.01%	70.08%
Par Value of Advances | Credit concentration risk | Insurance companies
Segment Information and Concentration
Concentration risk percentage	17.60%	18.70%

Mortgage Loans Held-for-Portf64

Mortgage Loans Held-for-Portfolio. - Balance Information and Roll-Forward Analysis of Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Dec. 31, 2016
Information on mortgage loans held-for-portfolio
Total par value					$ 2,801,387	$ 2,700,907
Unamortized premiums					48,600	48,008
Unamortized discounts					(1,956)	(1,928)
Basis adjustment					1,418	1,126
Total mortgage loans held-for-portfolio					2,849,449	2,748,113
Allowance for credit losses	$ (1,145)	$ (1,195)	$ (1,554)	$ (326)	(1,004)	(1,554)
Total mortgage loans held-for-portfolio, net of allowance for credit losses					$ 2,848,445	$ 2,746,559
Percentage of Total Par (as a percent)					100.00%	100.00%
First layer of potential credit losses (as a percent)					1.00%
First Loss Account					$ 32,100	$ 30,900
Credit Enhancement fees accrued	600	600	$ 1,200	1,100
Period for which CE fees are held back			12 months
Allowance for credit losses:
Beginning balance	1,145	1,195	$ 1,554	326
Charge-offs	(341)	(75)	(449)	(332)
Provision/(Reversal) for credit losses on mortgage loans	200	346	(101)	1,472
Ending balance	1,004	1,466	1,004	1,466
Ending balance, individually evaluated for impairment					251	600
Ending balance, collectively evaluated for impairment					753	954
Total Allowance for credit losses	$ 1,145	$ 1,195	$ 1,554	$ 326	$ 1,004	1,554
Minimum
Information on mortgage loans held-for-portfolio
Loan-to-value ratio for next layer of protection from the primary mortgage insurance required for loans (as a percent)					80.00%
Mortgage loans receivable (MPF)
Information on mortgage loans held-for-portfolio
Number of days of financing receivable delinquency at which foreclosure is deemed probable			180 days
Mortgage loans receivable (MPF) | Minimum
Information on mortgage loans held-for-portfolio
Period past due for loans to be individually evaluated for impairment			90 days
Mortgage loans receivable (MPF) | Multi-family
Information on mortgage loans held-for-portfolio
Total par value						56
Fixed medium-term mortgages | Single-family
Information on mortgage loans held-for-portfolio
Total par value					$ 247,530	$ 259,742
Percentage of Total Par (as a percent)					8.84%	9.62%
Fixed long-term mortgages | Single-family
Information on mortgage loans held-for-portfolio
Total par value					$ 2,553,857	$ 2,441,109
Percentage of Total Par (as a percent)					91.16%	90.38%

Mortgage Loans Held-for-Portf65

Mortgage Loans Held-for-Portfolio. - Non-performing Loans and Impaired Loans Individually Measured for Impairment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Mortgage Loans - Non-performing loans
Total Mortgage loans, net of allowance for credit losses	$ 2,848,445		$ 2,848,445		$ 2,746,559
Interest on non-performing loans
Interest contractually due	240	$ 292	475	$ 580
Interest actually received	229	273	455	542
Shortfall	11	$ 19	20	$ 38
Conventional MPF Loans
Mortgage Loans - Non-performing loans
Non-performing mortgage loans	12,586		12,586		14,917
Conventional MPF Loans | Individually measured for impairment
Recorded Investment for Impaired Loans
Recorded investment with no related allowance	14,437		14,437		15,360
Recorded investment with a related allowance	1,286		1,286		2,682
Total recorded investment for impaired loans	15,723		15,723		18,042
Unpaid Principal Balance for Impaired Loans
Unpaid principal balance with no related allowance	14,319		14,319		15,240
Unpaid principal balance with a related allowance	1,273		1,273		2,651
Total unpaid principal balance for impaired loans	15,592		15,592		17,891
Related Allowance for Impaired Loans
Allowance for loan losses for impaired loans	251		251		600
Average Recorded Investment of Impaired Loans
Average recorded investment with no related allowance	14,742		15,067		16,655
Average recorded investment with a related allowance	1,764		1,761		1,789
Total average recorded investment for impaired loans	16,506		16,828		18,444
Insured Loans
Mortgage Loans - Non-performing loans
MPF loans past due 90 days or more and still accruing interest	$ 5,218		$ 5,218		$ 5,227
Uninsured loans | Minimum
Average Recorded Investment of Impaired Loans
Period past due for interest received on loan to be recorded as a liability			90 days		90 days

Mortgage Loans Held-for-Portf66

Mortgage Loans Held-for-Portfolio. - Loans Collectively Measured for Impairment (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2017	Dec. 31, 2016
Loans for which the related allowance was collectively measured
Collectively measured for impairment, Recorded Investment	$ 2,847,538	$ 2,847,538	$ 2,743,438
Collectively measured for impairment, Unpaid Principal Balance	2,785,795	2,785,795	2,683,016
Collectively measured for impairment, Related Allowance	753	753	954
Collectively measured for impairment, Average Recorded Investment	2,824,426	2,798,962	2,627,984
Insured Loans
Loans for which the related allowance was collectively measured
Collectively measured for impairment, Recorded Investment	240,321	240,321	232,888
Collectively measured for impairment, Unpaid Principal Balance	233,881	233,881	226,504
Collectively measured for impairment, Average Recorded Investment	238,462	237,058	222,299
Uninsured loans
Loans for which the related allowance was collectively measured
Collectively measured for impairment, Recorded Investment	2,607,217	2,607,217	2,510,550
Collectively measured for impairment, Unpaid Principal Balance	2,551,914	2,551,914	2,456,512
Collectively measured for impairment, Related Allowance	753	753	954
Collectively measured for impairment, Average Recorded Investment	$ 2,585,964	$ 2,561,904	$ 2,405,685

Mortgage Loans Held-for-Portf67

Mortgage Loans Held-for-Portfolio. - Recorded Investments in Loans Past Due and Real Estate Owned (Details) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017USD ($)loan	Dec. 31, 2016USD ($)loan
Conventional MPF Loans
Mortgage loans:
Total past due	$ 32,980	$ 37,714
Total current loans	2,589,960	2,490,821
Total mortgage loans	2,622,940	2,528,535
Other delinquency statistics:
Loans in process of foreclosure	$ 7,579	$ 9,152
Number of foreclosures outstanding at period end | loan	60	77
Serious delinquency rate (as a percent)	0.49%	0.59%
Serious delinquent loans total used in calculation of serious delinquency rate	$ 12,875	$ 14,956
Loans on non-accrual status	12,615	14,956
Troubled debt restructurings	11,276	11,364
Real estate owned	1,181	1,653
Conventional MPF Loans | Past due 30 - 59 days
Mortgage loans:
Total past due	16,785	18,935
Conventional MPF Loans | Past due 60 - 89 days
Mortgage loans:
Total past due	3,579	3,823
Conventional MPF Loans | Past due 90 - 179 days
Mortgage loans:
Total past due	1,813	3,215
Conventional MPF Loans | Past due 180 days or more
Mortgage loans:
Total past due	10,803	11,741
Conventional MPF Loans | Loans discharged from bankruptcy
Other delinquency statistics:
Troubled debt restructurings	9,603	9,723
Conventional MPF Loans | Modified Loans under MPF program
Other delinquency statistics:
Troubled debt restructurings	1,673	1,641
Insured Loans
Mortgage loans:
Total past due	16,723	16,895
Total current loans	223,598	215,993
Total mortgage loans	240,321	232,888
Other delinquency statistics:
Loans in process of foreclosure	$ 1,940	$ 1,995
Number of foreclosures outstanding at period end | loan	21	17
Serious delinquency rate (as a percent)	2.30%	2.37%
Serious delinquent loans total used in calculation of serious delinquency rate	$ 5,522	$ 5,515
Past due 90 days or more and still accruing interest	5,522	5,515
Insured Loans | Past due 30 - 59 days
Mortgage loans:
Total past due	9,828	8,529
Insured Loans | Past due 60 - 89 days
Mortgage loans:
Total past due	1,372	2,851
Insured Loans | Past due 90 - 179 days
Mortgage loans:
Total past due	1,888	2,029
Insured Loans | Past due 180 days or more
Mortgage loans:
Total past due	3,635	3,486
Insured Loans | Loans discharged from bankruptcy
Other delinquency statistics:
Troubled debt restructurings	$ 696	622
Other Loans
Mortgage loans:
Total current loans		57
Total mortgage loans		$ 57

Mortgage Loans Held-for-Portf68

Mortgage Loans Held-for-Portfolio. - Troubled Debt Restructurings (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Loans discharged from bankruptcy | Minimum
Troubled Debt Restructurings
Period past due for loans to be considered for impairment	90 days
Conventional MPF Loans
Troubled Debt Restructurings
Troubled debt restructurings	$ 11,276	$ 11,364
Related Allowance	158	183
Conventional MPF Loans | Performing
Troubled Debt Restructurings
Troubled debt restructurings	10,128	10,540
Conventional MPF Loans | Non-performing
Troubled Debt Restructurings
Troubled debt restructurings	1,148	824
Conventional MPF Loans | Loans discharged from bankruptcy
Troubled Debt Restructurings
Troubled debt restructurings	9,603	9,723
Conventional MPF Loans | Loans discharged from bankruptcy | Performing
Troubled Debt Restructurings
Troubled debt restructurings	8,885	9,026
Conventional MPF Loans | Loans discharged from bankruptcy | Non-performing
Troubled Debt Restructurings
Troubled debt restructurings	718	697
Conventional MPF Loans | Modified Loans under MPF program
Troubled Debt Restructurings
Troubled debt restructurings	1,673	1,641
Conventional MPF Loans | Modified Loans under MPF program | Performing
Troubled Debt Restructurings
Troubled debt restructurings	1,243	1,514
Conventional MPF Loans | Modified Loans under MPF program | Non-performing
Troubled Debt Restructurings
Troubled debt restructurings	$ 430	$ 127

Deposits. (Details)

Deposits. (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Interest-bearing deposits
Interest-bearing demand	$ 1,868,534	$ 1,183,468
Term	39,000	35,000
Total interest-bearing deposits	1,907,534	1,218,468
Non-interest-bearing demand	20,213	22,281
Total deposits	$ 1,927,747	$ 1,240,749
Maximum period of term deposits	1 year	1 year
Amount Outstanding
Due in one year or less, Interest-bearing deposits	$ 1,907,534	$ 1,218,468
Due in one year or less, Non-interest-bearing deposits	20,213	22,281
Total deposits	$ 1,927,747	$ 1,240,749
Weighted Average Interest Rate
Due in one year or less, Interest-bearing deposits (as a percent)	0.66%	0.22%

Consolidated Obligations. - Joi

Consolidated Obligations. - Joint and Several Obligations (Details) - USD ($) $ in Trillions	Jun. 30, 2017	Dec. 31, 2016
Consolidated Obligations.
Outstanding consolidated obligations, including consolidated obligations held by other FHLBanks	$ 1	$ 1

Consolidated Obligations. - Unp

Consolidated Obligations. - Unpledged Asset Requirements and Summary of Issued and Outstanding Consolidated Obligations (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Consolidated obligations
Percentage of unpledged qualifying assets to consolidated obligations	107.00%	107.00%
Summary of consolidated obligations issued by the Bank and outstanding
Total Consolidated obligation-bonds	$ 87,559,342	$ 84,784,664
Total consolidated obligation - discount notes	57,330,972	49,357,894
Consolidated obligation bonds
Summary of consolidated obligations issued by the Bank and outstanding
Consolidated obligation bonds-amortized cost	87,117,875	84,351,354
Hedge valuation basis adjustments	303,063	290,016
Hedge basis adjustments on terminated hedges	137,610	140,331
FVO-valuation adjustments and accrued interest	794	2,963
Total Consolidated obligation-bonds	87,559,342	84,784,664
Consolidated obligation discount notes
Summary of consolidated obligations issued by the Bank and outstanding
Discount notes-amortized cost	57,322,371	49,334,380
FVO-valuation adjustments and remaining accretion	8,601	23,514
Total consolidated obligation - discount notes	$ 57,330,972	$ 49,357,894

Consolidated Obligations. - Red

Consolidated Obligations. - Redemption Terms of Consolidated Obligation Bonds (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Amount
Total Consolidated obligation-bonds	$ 87,559,342,000		$ 87,559,342,000		$ 84,784,664,000
Consolidated obligation bonds
Amount
One year or less	70,313,490,000		70,313,490,000		55,251,690,000
Over one year through two years	8,914,850,000		8,914,850,000		19,603,965,000
Over two years through three years	1,633,920,000		1,633,920,000		3,376,095,000
Over three years through four years	1,177,185,000		1,177,185,000		1,225,175,000
Over four years through five years	1,134,555,000		1,134,555,000		1,060,320,000
Thereafter	3,917,555,000		3,917,555,000		3,810,300,000
Total par value	87,091,555,000		87,091,555,000		84,327,545,000
Bond premiums	52,892,000		52,892,000		52,336,000
Bond discounts	(26,572,000)		(26,572,000)		(28,527,000)
Hedge valuation basis adjustments	303,063,000		303,063,000		290,016,000
Hedge basis adjustments on terminated hedges	137,610,000		137,610,000		140,331,000
FVO-valuation adjustments and accrued interest	794,000		794,000		2,963,000
Total Consolidated obligation-bonds	$ 87,559,342,000		$ 87,559,342,000		$ 84,784,664,000
Weighted Average Rate
One year or less, Weighted Average Rate (as a percent)	1.03%		1.03%		0.80%
Over one year through two years, Weighted Average Rate (as a percent)	1.35%		1.35%		0.95%
Over two years through three years, Weighted Average Rate (as a percent)	1.71%		1.71%		1.39%
Over three years through four years, Weighted Average Rate (as a percent)	2.16%		2.16%		2.12%
Over four years through five years, Weighted Average Rate (as a percent)	2.21%		2.21%		2.08%
Thereafter, Weighted Average Rate (as a percent)	3.33%		3.33%		3.25%
Total par value, Weighted Average Rate (as a percent)	1.21%		1.21%		1.00%
Percentage of Total
One year or less, Percentage of Total (as a percent)	80.73%		80.73%		65.52%
Over one year through two years, Percentage of Total (as a percent)	10.24%		10.24%		23.25%
Over two years through three years, Percentage of Total (as a percent)	1.88%		1.88%		4.00%
Over three years through four years, Percentage of Total (as a percent)	1.35%		1.35%		1.45%
Over four years through five years, Percentage of Total (as a percent)	1.30%		1.30%		1.26%
Thereafter, Percentage of Total (as a percent)	4.50%		4.50%		4.52%
Total par value, Percentage of Total (as a percent)	100.00%		100.00%		100.00%
Consolidated obligation bonds | Interest Expense
Percentage of Total
Amortization of bond premiums and discount, net	$ 5,200,000	$ 3,500,000	$ 10,100,000	$ 7,100,000
Amortization of hedge basis adjustments on terminated hedges	1,400,000	$ 1,500,000	2,900,000	$ 2,900,000
Debt maturity | Consolidated obligation bonds
Amount
Hedge basis adjustments on terminated hedges	$ 0		$ 0

Consolidated Obligations. - Int

Consolidated Obligations. - Interest Rate Payment Terms of Consolidated Obligation Bonds (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Interest rate payment terms
Total Consolidated obligation-bonds	$ 87,559,342	$ 84,784,664
Consolidated obligation bonds
Interest rate payment terms
Total par value	87,091,555	84,327,545
Bond premiums	52,892	52,336
Bond discounts	(26,572)	(28,527)
Hedge valuation basis adjustments	303,063	290,016
Hedge basis adjustments on terminated hedges	137,610	140,331
FVO-valuation adjustments and accrued interest	794	2,963
Total Consolidated obligation-bonds	$ 87,559,342	$ 84,784,664
Total par value, Percentage of Total (as a percent)	100.00%	100.00%
Consolidated obligation bonds | Fixed-rate, non-callable
Interest rate payment terms
Total par value	$ 29,003,555	$ 32,878,545
Total par value, Percentage of Total (as a percent)	33.30%	38.99%
Consolidated obligation bonds | Fixed-rate, callable
Interest rate payment terms
Total par value	$ 1,534,000	$ 1,255,000
Total par value, Percentage of Total (as a percent)	1.76%	1.49%
Consolidated obligation bonds | Step Up, callable
Interest rate payment terms
Total par value	$ 45,000	$ 160,000
Total par value, Percentage of Total (as a percent)	0.05%	0.19%
Consolidated obligation bonds | Single-index floating rate
Interest rate payment terms
Total par value	$ 56,509,000	$ 50,034,000
Total par value, Percentage of Total (as a percent)	64.89%	59.33%

Consolidated Obligations. - Out

Consolidated Obligations. - Outstanding Consolidated Obligation Discount Notes (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Discount Notes
Total consolidated obligation - discount notes	$ 57,330,972	$ 49,357,894
Consolidated obligation discount notes
Discount Notes
Par value	57,389,161	49,392,445
Amortized cost	57,322,371	49,334,380
FVO valuation adjustments and remaining accretion	8,601	23,514
Total consolidated obligation - discount notes	$ 57,330,972	$ 49,357,894
Weighted average interest rate (as a percent)	0.92%	0.48%
Consolidated obligation discount notes | Maximum
Discount Notes
Original maturity	1 year

Affordable Housing Program. - C

Affordable Housing Program. - Changes in Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017		Jun. 30, 2016
Changes in Affordable Housing Program liabilities
Beginning balance	$ 117,812	$ 111,316	$ 125,062		$ 113,352
Additions from current period's assessments	14,573	10,218	22,347		19,518
Net disbursements for grants and programs	(11,103)	(6,569)	(26,127)	[1]	(17,905)	[1]
Ending balance	$ 121,282	$ 114,965	$ 121,282		$ 114,965
[1]	AHP payments = (beginning accrual - ending accrual) + AHP assessment for the period; payments represent funds released to the Affordable Housing Program.

Capital Stock, Mandatorily Re76

Capital Stock, Mandatorily Redeemable Capital Stock and Restricted Retained Earnings. - Capital Stock and Capital Rules (Details)	6 Months Ended
	Jun. 30, 2017item$ / shares	Dec. 31, 2016$ / shares
Details of capital stock
Stated par value of capital stock (in dollars per share) | $ / shares	$ 100	$ 100
Capital requirements that the Company is subject to	3
Required capital-to-asset ratio (as a percent)	4.00%	4.00%
Minimum leverage ratio (as a percent)	5.00%	5.00%
Weighting factor applicable to the permanent capital used in determining compliance with minimum leverage ratio	1.5
Weighting factor applicable to the non-permanent capital used in determining compliance with minimum leverage ratio	1
Capital Stock Class B
Details of capital stock
Sub-classes of class of capital stock	2
Notice period required for stock redemption	5 years

Capital Stock, Mandatorily Re77

Capital Stock, Mandatorily Redeemable Capital Stock and Restricted Retained Earnings. - Risk-based Capital (Details) $ in Thousands	Jun. 30, 2017USD ($)	Dec. 31, 2016USD ($)
Capital Stock, Mandatorily Redeemable Capital Stock and Restricted Retained Earnings.
Risk-based capital, Required	$ 821,051	$ 747,937
Risk-based capital, Actual	$ 8,226,190	$ 7,751,165
Total capital-to-asset ratio, Required (as a percent)	4.00%	4.00%
Total capital-to-asset ratio, Actual (as a percent)	5.29%	5.40%
Total capital, Required	$ 6,221,164	$ 5,744,251
Total capital, Actual	$ 8,226,190	$ 7,751,165
Leverage ratio, Required (as a percent)	5.00%	5.00%
Leverage ratio, Actual (as a percent)	7.93%	8.10%
Leverage capital, Required	$ 7,776,455	$ 7,180,314
Leverage capital, Actual	$ 12,339,286	$ 11,626,748
Percentage applied to total assets to derive required "Total capital"	4.00%	4.00%
Multiplier applied to actual "Risk-based capital" to derive actual "Leverage capital"	1.5	1.5

Capital Stock, Mandatorily Re78

Capital Stock, Mandatorily Redeemable Capital Stock and Restricted Retained Earnings. - Anticipated Redemptions of Mandatorily Redeemable Capital Stock and Withdrawals and Terminations in Membership (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015
Anticipated redemption of mandatorily redeemable capital stock
Redemption less than one year	$ 2,207		$ 11,384
Redemption from one year to less than three years	12,727		14,000
Redemption from three years to less than five years	464		483
Redemption from five years or greater	5,161		5,568
Total	$ 20,559	$ 20,506	$ 31,435	$ 29,878	$ 30,505	$ 19,499

Capital Stock, Mandatorily Re79

Capital Stock, Mandatorily Redeemable Capital Stock and Restricted Retained Earnings. - Changes in Mandatorily Redeemable Capital Stock Liabilities and Restricted Retained Earnings (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Changes in mandatorily redeemable capital stock liabilities during the period
Beginning balance	$ 20,506	$ 30,505	$ 31,435	$ 19,499
Capital stock subject to mandatory redemption reclassified from equity	2,794	1,702	3,009	13,207
Redemption of mandatorily redeemable capital stock	(2,741)	(2,329)	(13,885)	(2,828)
Ending balance	20,559	29,878	20,559	29,878
Accrued interest payable	$ 277	$ 335	$ 277	$ 335
Annualized accrual rates for the period (as a percent)	5.00%	4.50%
Restricted Retained Earnings
Percentage of net income each FHLBank is required to contribute to a restricted retained earnings account until the balance of that account equals at least one percent of average balance of outstanding consolidated obligations			20.00%
Minimum percentage of FHLBank's average balance of outstanding consolidated obligations for restricted retained earnings			1.00%
Restricted retained earnings	$ 423,387		$ 423,387		$ 383,291

Earnings Per Share of Capital80

Earnings Per Share of Capital. (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Earnings Per Share of Capital.
Number of dilutive potential common shares or other common stock equivalents	0	0	0	0
Net income	$ 130,913	$ 91,640	$ 200,478	$ 175,041
Net income available to stockholders	$ 130,913	$ 91,640	$ 200,478	$ 175,041
Weighted average shares of capital (in shares)	62,315	55,408	62,242	55,203
Less: Mandatorily redeemable capital stock (in shares)	(222)	(196)	(227)	(195)
Average number of shares of capital used to calculate earnings per share (in shares)	62,093	55,212	62,015	55,008
Basic earnings per share (in dollars per share)	$ 2.11	$ 1.66	$ 3.23	$ 3.18

Employee Retirement Plans. - Pl

Employee Retirement Plans. - Plan Information and Expenses Summary (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)plan	Jun. 30, 2016USD ($)
Employee retirement plan expenses
Employee retirement plan expenses (income), charged to compensation and benefits expense	$ 3,685	$ 3,403	$ 7,359	$ 6,803
Pentegra Defined Benefit Plan
Employee retirement plan expenses
Employee retirement plan expenses (income), charged to compensation and benefits expense	1,875	1,875	$ 3,750	3,750
Benefit Equalization Plans (defined benefit and defined contribution)
Employee retirement plans
Number of plans | plan			2
Employee retirement plan expenses
Employee retirement plan expenses (income), charged to compensation and benefits expense	1,384	1,142	$ 2,768	2,283
Pentegra Defined Contribution Plans
Employee retirement plan expenses
Employee retirement plan expenses (income), charged to compensation and benefits expense	549	498	1,088	994
Postretirement Health Benefit Plan
Employee retirement plan expenses
Employee retirement plan expenses (income), charged to compensation and benefits expense	$ (123)	$ (112)	$ (247)	$ (224)

Employee Retirement Plans. - Be

Employee Retirement Plans. - Benefit Equalization Plan (Details) - Benefit Equalization Plan (BEP) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Components of the net periodic pension cost
Service cost	$ 222	$ 186	$ 444	$ 371
Interest cost	523	476	1,047	952
Amortization of unrecognized net loss	639	491	1,277	983
Amortization of unrecognized past service (credit)		(11)		(23)
Net periodic benefit (income)/cost	$ 1,384	$ 1,142	$ 2,768	$ 2,283

Employee Retirement Plans. - Po

Employee Retirement Plans. - Postretirement Health Benefit Plan (Details) - Postretirement Health Benefit Plan - USD ($) $ in Thousands	Mar. 31, 2014	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Components of the net periodic pension cost
Service cost (benefits attributed to service during the period)		$ 31	$ 31	$ 61	$ 62
Interest cost on accumulated postretirement health benefit obligation		144	138	288	275
Amortization of loss		142	160	283	320
Amortization of prior service (credit)		(440)	(441)	(879)	(881)
Net periodic benefit (income)/cost		$ (123)	$ (112)	$ (247)	$ (224)
Plan amendment
Reduction in plan obligations	$ 8,800

Derivatives and Hedging Activ84

Derivatives and Hedging Activities. - General (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)item	Dec. 31, 2016USD ($)
Hedging activities
Number of ways in which derivatives are used | item	3
Notional amounts outstanding	$ 95,980,261	$ 94,378,115
Maximum
Hedging activities
Maturity period of advances	30 years
Consolidated obligation discount notes | Maximum
Hedging activities
Maturity period	1 year
Rolling issuance | Consolidated obligation discount notes
Hedging activities
Maturity period	91 days
Rolling issuance | Consolidated obligation discount notes | Maximum
Hedging activities
Term of borrowing program	15 years
Intermediation / Cleared | Swaps | Smaller members
Hedging activities
Notional amounts outstanding	$ 184,000	129,000
Derivatives not designated as hedging instruments
Hedging activities
Notional amounts outstanding	24,091,210	29,110,269
Derivatives not designated as hedging instruments | Interest rate swaps
Hedging activities
Notional amounts outstanding	20,998,504	26,125,822
Derivatives not designated as hedging instruments | Intermediation / Cleared | Swaps
Hedging activities
Notional amounts outstanding	$ 368,000	$ 258,000
Economic hedges | Basis swaps | LIBOR
Hedging activities
Variable-rate basis	3-month LIBOR
Cash flow hedges | Consolidated obligations
Hedging activities
Number of Cash flow strategies | item	2
Cash flow hedges | Interest rate swaps | Rolling issuance | LIBOR
Hedging activities
Variable-rate basis	3-month LIBOR
Cash flow hedges | Interest rate swaps | Rolling issuance | Consolidated obligation discount notes
Hedging activities
Interest rate swap settlement period/period for each forecasted discount note issuance	91 days

Derivatives and Hedging Activ85

Derivatives and Hedging Activities. - Nettable Gross and Net and Not Nettable Assets and Liabilities by Contract Type and Amount (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Derivative instruments - Nettable
Derivative fair values	$ 706,964	$ 726,424
Variation margin	(216,158)
Gross recognized amount	490,806	726,424
Gross amounts of netting adjustments and cash collateral	(145,968)	(397,609)
Net amounts after offsetting adjustments	344,838	328,815
Derivative assets
Total derivative assets after cash collateral presented in the Statements of Condition	344,852	328,875
Non-cash collateral received or pledged not offset
Cannot be sold or repledged	104,507	104,530
Net unsecured amount
Net unsecured amount	240,345	224,345
Derivative instruments - Nettable
Derivative fair values	384,234	443,803
Gross recognized amount	384,234	443,803
Gross amount of netting adjustments and cash collateral	(267,420)	(298,918)
Net amounts after offsetting adjustments	116,814	144,885
Derivative liabilities
Total derivative liabilities after cash collateral presented in the Statements of Condition	116,893	144,985
Net unsecured amount
Net unsecured amount	116,893	144,985
Cash collateral received and netted against receivable	126,400	354,700
Cash collateral posted, netted against derivative liabilities	247,800	256,000
Net exposures after offsetting adjustments	344,900	328,900
Mortgage delivery commitments
Derivative instruments - Not Nettable
Derivative instruments - Not Nettable	14	60
Non-cash collateral received or pledged not offset
Cannot be sold or repledged		60
Derivative instruments - Not Nettable
Derivative instruments - Not Nettable	79	100
Net unsecured amount
Cash collateral received and netted against receivable	0	0
Cash collateral posted, netted against derivative liabilities	$ 0	0
Mortgage delivery commitments | Maximum
Net unsecured amount
Period of forward mortgage delivery commitments	45 days
Bilateral derivatives
Derivative instruments - Nettable
Derivative fair values	$ 199,684	207,462
Gross amounts of netting adjustments and cash collateral	(81,696)	(94,742)
Net amounts after offsetting adjustments	117,988	112,720
Non-cash collateral received or pledged not offset
Cannot be sold or repledged	104,507	104,470
Net unsecured amount
Net unsecured amount	13,495	8,250
Derivative instruments - Nettable
Derivative fair values	186,743	230,084
Gross amount of netting adjustments and cash collateral	(69,929)	(85,199)
Net amounts after offsetting adjustments	116,814	144,885
Net unsecured amount
Net unsecured amount	116,893	144,985
Intermediation / Cleared
Derivative instruments - Nettable
Derivative fair values	507,280	518,962
Gross amounts of netting adjustments and cash collateral	(64,272)	(302,867)
Net amounts after offsetting adjustments	226,850	216,095
Net unsecured amount
Net unsecured amount	226,850	216,095
Derivative instruments - Nettable
Derivative fair values	197,491	213,719
Gross amount of netting adjustments and cash collateral	$ (197,491)	$ (213,719)

Derivatives and Hedging Activ86

Derivatives and Hedging Activities. - Derivatives in a Fair Value Loss Position (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Derivatives with potential nonperformance risk to counterparties
Derivatives in a net unrealized loss positions	$ 116.9	$ 145
Cash collateral posted	$ 247.8	$ 256
Intermediation / Cleared
Derivatives with potential nonperformance risk to counterparties
Period for delivery of margin following execution of derivative instrument	1 day	1 day

Derivatives and Hedging Activ87

Derivatives and Hedging Activities. - Outstanding Notional Balances and Estimated Fair Values of Derivatives Outstanding (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Summary of outstanding notional balances and estimated fair values of derivatives outstanding
Notional Amount of Derivatives	$ 95,980,261	$ 94,378,115
Derivative Assets
Total derivatives before netting, collateral adjustments and variation margin	706,978
Variation margin	(216,158)
Total derivatives before netting and collateral adjustment	490,820	726,484
Netting Adjustment and Cash Collateral	(145,968)	(397,609)
Total derivative assets after cash collateral presented in the Statements of Condition	344,852	328,875
Security collateral received from counterparty	(104,463)	(104,470)
Net exposure	240,389	224,405
Cash collateral and related accrued interest posted by counterparties, netted against derivative assets	126,400	354,700
Derivative Liabilities
Total derivatives before netting, collateral adjustments and variation margin	384,313
Total derivatives before netting and collateral adjustment	384,313	443,903
Netting Adjustment and Cash Collateral	(267,420)	(298,918)
Total derivative liabilities after cash collateral presented in the Statements of Condition	116,893	144,985
Cash collateral posted, netted against derivative liabilities	247,800	256,000
Security collateral pledged	104,507	104,530
Mortgage delivery commitments
Derivative Assets
Cash collateral and related accrued interest posted by counterparties, netted against derivative assets	0	0
Derivative Liabilities
Cash collateral posted, netted against derivative liabilities	0	0
Security collateral pledged		60
Derivatives designated as hedging instruments
Summary of outstanding notional balances and estimated fair values of derivatives outstanding
Notional Amount of Derivatives	71,889,051	65,267,846
Derivative Assets
Total derivatives before netting and collateral adjustment	677,875	688,413
Derivative Liabilities
Total derivatives before netting and collateral adjustment	359,605	412,919
Derivatives designated as hedging instruments | Interest rate swaps | Fair value hedges
Summary of outstanding notional balances and estimated fair values of derivatives outstanding
Notional Amount of Derivatives	69,725,051	63,333,846
Derivative Assets
Total derivatives before netting and collateral adjustment	664,540	670,694
Derivative Liabilities
Total derivatives before netting and collateral adjustment	290,360	344,126
Derivatives designated as hedging instruments | Interest rate swaps | Cash flow hedges
Summary of outstanding notional balances and estimated fair values of derivatives outstanding
Notional Amount of Derivatives	2,164,000	1,934,000
Derivative Assets
Total derivatives before netting and collateral adjustment	13,335	17,719
Derivative Liabilities
Total derivatives before netting and collateral adjustment	69,245	68,793
Derivatives not designated as hedging instruments
Summary of outstanding notional balances and estimated fair values of derivatives outstanding
Notional Amount of Derivatives	24,091,210	29,110,269
Derivative Assets
Total derivatives before netting and collateral adjustment	29,103	38,071
Derivative Liabilities
Total derivatives before netting and collateral adjustment	24,708	30,984
Derivatives not designated as hedging instruments | Interest rate swaps
Summary of outstanding notional balances and estimated fair values of derivatives outstanding
Notional Amount of Derivatives	20,998,504	26,125,822
Derivative Assets
Total derivatives before netting and collateral adjustment	22,791	27,993
Derivative Liabilities
Total derivatives before netting and collateral adjustment	20,341	26,405
Derivatives not designated as hedging instruments | Interest rate caps or floors
Summary of outstanding notional balances and estimated fair values of derivatives outstanding
Notional Amount of Derivatives	2,698,000	2,698,000
Derivative Assets
Total derivatives before netting and collateral adjustment	1,608	5,214
Derivatives not designated as hedging instruments | Mortgage delivery commitments
Summary of outstanding notional balances and estimated fair values of derivatives outstanding
Notional Amount of Derivatives	26,706	28,447
Derivative Assets
Total derivatives before netting and collateral adjustment	14	60
Derivative Liabilities
Total derivatives before netting and collateral adjustment	79	100
Derivatives not designated as hedging instruments | Intermediation / Cleared | Swaps
Summary of outstanding notional balances and estimated fair values of derivatives outstanding
Notional Amount of Derivatives	368,000	258,000
Derivative Assets
Total derivatives before netting and collateral adjustment	4,690	4,804
Derivative Liabilities
Total derivatives before netting and collateral adjustment	$ 4,288	$ 4,479

Derivatives and Hedging Activ88

Derivatives and Hedging Activities. - Components of Net Gains/ (Losses) on Derivatives and Hedging Activities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Components of net gains/ (losses) on derivatives and hedging activities as presented in the Statements of Income
Gains (Losses) on Derivative	$ (43,637)	$ (41,925)	$ 22,519	$ (319,682)
Gains (Losses) on Hedged Item	44,221	43,342	(22,637)	321,983
Earnings Impact	584	1,417	(118)	2,301
Net Interest Income	176,114	128,984	349,563	256,150
Price alignment - cleared swaps settlement to market
Components of net gains/ (losses) on derivatives and hedging activities as presented in the Statements of Income
Gains (Losses) on Derivative	(693)		(1,275)
Earnings Impact	(693)		(1,275)
Derivatives not designated as hedging instruments
Components of net gains/ (losses) on derivatives and hedging activities as presented in the Statements of Income
Gains (Losses) on Derivative	2,465	529	2,597	1,063
Earnings Impact	2,465	529	2,597	1,063
Derivatives not designated as hedging instruments | Interest rate swaps
Components of net gains/ (losses) on derivatives and hedging activities as presented in the Statements of Income
Gains (Losses) on Derivative	3,327	(3)	7,346	(89)
Earnings Impact	3,327	(3)	7,346	(89)
Derivatives not designated as hedging instruments | Interest rate caps or floors
Components of net gains/ (losses) on derivatives and hedging activities as presented in the Statements of Income
Gains (Losses) on Derivative	(1,534)	(1,907)	(3,606)	(3,735)
Earnings Impact	(1,534)	(1,907)	(3,606)	(3,735)
Derivatives not designated as hedging instruments | Mortgage delivery commitments
Components of net gains/ (losses) on derivatives and hedging activities as presented in the Statements of Income
Gains (Losses) on Derivative	210	468	439	868
Earnings Impact	210	468	439	868
Derivatives not designated as hedging instruments | Swaps
Components of net gains/ (losses) on derivatives and hedging activities as presented in the Statements of Income
Gains (Losses) on Derivative	2,099	5,370	3,745	11,829
Earnings Impact	2,099	5,370	3,745	11,829
Derivatives not designated as hedging instruments | Swaps | Accrued interest
Components of net gains/ (losses) on derivatives and hedging activities as presented in the Statements of Income
Gains (Losses) on Derivative	(1,637)	(3,399)	(5,327)	(7,810)
Earnings Impact	(1,637)	(3,399)	(5,327)	(7,810)
Fair value hedges | Interest rate swaps
Components of net gains/ (losses) on derivatives and hedging activities as presented in the Statements of Income
Gains (Losses) on Derivative	(45,423)	(42,454)	21,006	(320,698)
Gains (Losses) on Hedged Item	44,221	43,342	(22,637)	321,983
Earnings Impact	(1,202)	888	(1,631)	1,285
Net Interest Income	(37,785)	(80,240)	(83,353)	(182,402)
Fair value hedges | Interest rate swaps | Consolidated obligation bonds
Components of net gains/ (losses) on derivatives and hedging activities as presented in the Statements of Income
Gains (Losses) on Derivative	33,584	79,547	10,665	218,603
Gains (Losses) on Hedged Item	(35,026)	(78,290)	(13,047)	(217,377)
Earnings Impact	(1,442)	1,257	(2,382)	1,226
Net Interest Income	5,026	25,485	15,608	55,900
Fair value hedges | Interest rate swaps | Advances
Components of net gains/ (losses) on derivatives and hedging activities as presented in the Statements of Income
Gains (Losses) on Derivative	(79,007)	(122,001)	10,341	(539,301)
Gains (Losses) on Hedged Item	79,247	121,632	(9,590)	539,360
Earnings Impact	240	(369)	751	59
Net Interest Income	(42,811)	(105,725)	(98,961)	(238,302)
Cash flow hedges | Interest rate swaps
Components of net gains/ (losses) on derivatives and hedging activities as presented in the Statements of Income
Gains (Losses) on Derivative	14		191	(47)
Earnings Impact	14		191	(47)
Net Interest Income	$ (7,901)	$ (8,845)	$ (16,073)	$ (18,021)

Derivatives and Hedging Activ89

Derivatives and Hedging Activities. - Cash Flow Hedges (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2017USD ($)contract	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)contract	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)
AOCI Rollforward analysis
Balance			$ (95,650)
Balance	$ (86,049)		(86,049)		$ (95,650)
Notional amounts outstanding	95,980,261		95,980,261		94,378,115
Interest rate cash flow hedges
Unrecognized loss in AOCI expected to be recognized over the next 12 months	600		600
Derivatives designated as hedging instruments
AOCI Rollforward analysis
Notional amounts outstanding	71,889,051		71,889,051		65,267,846
Cash flow hedges | Interest rate swaps
Effect of interest rate swaps in cash flow hedging relationships
Recognized in AOCI	(13,786)	$ (22,726)	(3,700)	$ (79,599)
Amount Reclassified to Earnings	(294)	(592)	(603)	(1,148)
Ineffectiveness Recognized in Earnings	14		191	(47)
Cash flow hedges | Interest rate swaps | Consolidated obligation bonds
Effect of interest rate swaps in cash flow hedging relationships
Recognized in AOCI	(36)	(702)	(421)	(1,684)
Cash flow hedges | Interest rate swaps | Consolidated obligation bonds | Interest Expense
Effect of interest rate swaps in cash flow hedging relationships
Amount Reclassified to Earnings	(294)	(592)	(603)	(1,148)
Cash flow hedges | Interest rate swaps | Consolidated obligation bonds | Other Income
Effect of interest rate swaps in cash flow hedging relationships
Ineffectiveness Recognized in Earnings	14		191	(47)
Cash flow hedges | Interest rate swaps | Consolidated obligation discount notes
Effect of interest rate swaps in cash flow hedging relationships
Recognized in AOCI	(13,750)	(22,024)	(3,279)	(77,915)
Cash flow hedges | Derivatives designated as hedging instruments | Interest rate swaps
AOCI Rollforward analysis
Notional amounts outstanding	2,164,000		$ 2,164,000		1,934,000
Rollover Hedge Program | Interest rate swaps
Derivative instruments
Cash flow hedge, maximum period of time of hedged exposure			15 years
Rollover Hedge Program | Cash flow hedges | Interest rate swaps
AOCI Rollforward analysis
Notional amounts outstanding	$ 2,164,000		$ 2,164,000		1,839,000
Anticipatory Hedge Program | Cash flow hedges | Interest rate swaps
Derivative instruments
Number of contracts | contract	0		0
AOCI Rollforward analysis
Notional amounts outstanding		25,000		25,000	95,000
Cash Flow Hedges | Rollover Hedge Program
AOCI Rollforward analysis
Balance			$ (49,312)	(85,222)	(85,222)
Changes in fair values			(3,279)		35,910
Balance	$ (52,591)	(163,100)	(52,591)	(163,100)	(49,312)
Cash Flow Hedges | Rollover Hedge Program | Interest rate swaps
AOCI Rollforward analysis
Notional amounts outstanding		$ 1,600,000		1,600,000
Cash Flow Hedges | Anticipatory Hedge Program
AOCI Rollforward analysis
Balance			2,294	$ (5,815)	(5,815)
Amount reclassified			603		2,127
Balance	$ 2,476		2,476		2,294
Closed derivative contracts | Cash Flow Hedges | Anticipatory Hedge Program
AOCI Rollforward analysis
Changes in fair values			$ (421)		4,202
Open derivative contracts | Cash Flow Hedges | Anticipatory Hedge Program
AOCI Rollforward analysis
Changes in fair values					$ 1,780

Fair Values of Financial Inst90

Fair Values of Financial Instruments. - Carrying Values, Estimated Fair Values and Levels within Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015
Assets
Cash and due from banks	$ 533,614		$ 151,769
Securities purchased under agreements to resell	5,175,000		7,150,000
Federal funds sold	10,700,000		6,683,000
Trading securities	30,911		131,151
Available-for-sale securities	634,096		697,812
Held-to-maturity securities	17,277,233		16,146,971
Advances	117,934,006		109,256,625
Loans to other FHLBanks			255,000
Accrued interest receivable	186,001		163,379
Derivative assets	344,852		328,875
Derivative assets, before netting and cash collateral	490,820		726,484
Netting Adjustment and Cash Collateral	(145,968)		(397,609)
Liabilities
Consolidated obligations - Bonds	87,559,342		84,784,664
Consolidated obligations - Discount notes	57,330,972		49,357,894
Mandatorily redeemable capital stock	20,559	$ 20,506	31,435	$ 29,878	$ 30,505	$ 19,499
Accrued interest payable	149,264		130,178
Derivative liabilities	116,893		144,985
Derivative liabilities, before netting and cash collateral	384,313		443,903
Netting Adjustment and Cash Collateral	(267,420)		(298,918)
Carrying Value
Assets
Cash and due from banks	533,614		151,769
Securities purchased under agreements to resell	5,175,000		7,150,000
Federal funds sold	10,700,000		6,683,000
Trading securities	30,911		131,151
Available-for-sale securities	634,096		697,812
Held-to-maturity securities	17,106,788		16,022,293
Advances	117,934,006		109,256,625
Mortgage loans held-for-portfolio, net	2,848,445		2,746,559
Loans to other FHLBanks			255,000
Accrued interest receivable	186,001		163,379
Derivative assets	344,852		328,875
Other financial assets	1,181		1,653
Liabilities
Deposits	1,927,747		1,240,749
Consolidated obligations - Bonds	87,559,342		84,784,664
Consolidated obligations - Discount notes	57,330,972		49,357,894
Mandatorily redeemable capital stock	20,559		31,435
Accrued interest payable	149,264		130,178
Derivative liabilities	116,893		144,985
Other financial liabilities	74,268		67,670
Estimated Fair Value
Assets
Cash and due from banks	533,614		151,769
Securities purchased under agreements to resell	5,174,953		7,149,882
Federal funds sold	10,699,931		6,682,915
Trading securities	30,911		131,151
Available-for-sale securities	634,096		697,812
Held-to-maturity securities	17,277,233		16,146,971
Advances	117,967,994		109,285,876
Mortgage loans held-for-portfolio, net	2,841,434		2,730,328
Loans to other FHLBanks			254,998
Accrued interest receivable	186,001		163,379
Derivative assets	344,852		328,875
Other financial assets	1,181		1,653
Liabilities
Deposits	1,927,707		1,240,719
Consolidated obligations - Bonds	87,487,147		84,702,084
Consolidated obligations - Discount notes	57,327,341		49,355,575
Mandatorily redeemable capital stock	20,559		31,435
Accrued interest payable	149,264		130,178
Derivative liabilities	116,893		144,985
Other financial liabilities	74,268		67,670
Estimated Fair Value | Level 1
Assets
Cash and due from banks	533,614		151,769
Available-for-sale securities	46,030		41,718
Liabilities
Mandatorily redeemable capital stock	20,559		31,435
Other financial liabilities	74,268		67,670
Estimated Fair Value | Level 2
Assets
Securities purchased under agreements to resell	5,174,953		7,149,882
Federal funds sold	10,699,931		6,682,915
Trading securities	30,911		131,151
Available-for-sale securities	588,066		656,094
Held-to-maturity securities	15,945,390		14,831,668
Advances	117,967,994		109,285,876
Mortgage loans held-for-portfolio, net	2,841,434		2,730,328
Loans to other FHLBanks			254,998
Accrued interest receivable	186,001		163,379
Derivative assets, before netting and cash collateral	490,820		726,484
Liabilities
Deposits	1,927,707		1,240,719
Consolidated obligations - Bonds	87,487,147		84,702,084
Consolidated obligations - Discount notes	57,327,341		49,355,575
Accrued interest payable	149,264		130,178
Derivative liabilities, before netting and cash collateral	384,313		443,903
Estimated Fair Value | Level 3
Assets
Held-to-maturity securities	1,331,843		1,315,303
Other financial assets	$ 1,181		$ 1,653

Fair Values of Financial Inst91

Fair Values of Financial Instruments. - Fair Value Hierarchy Transfers, Valuation Techniques and Primary Inputs (Details) $ in Thousands	Jun. 30, 2017USD ($)Pointsecurityitem	Dec. 31, 2016USD ($)Pointsecurity	Jun. 30, 2017USD ($)item	Mar. 31, 2017item	Jun. 30, 2017USD ($)item
Summary of Valuation Techniques and Primary Inputs
Asset transfers in/out of Level 1, Level 2 or Level 3 | $	$ 0	$ 0	$ 0		$ 0
Liability transfers in/out of Level 1, Level 2 or Level 3 | $	0	0	0		0
Credit adjustment to recorded fair value of Derivative assets | $	0	0	0		0
Credit adjustment to recorded fair value of Derivative liabilities | $	$ 0	$ 0	$ 0		$ 0
Minimum
Summary of Valuation Techniques and Primary Inputs
Maturity or repricing period of advances which requires a prepayment fee					6 months
Mortgage-backed securities (MBS)
Summary of Valuation Techniques and Primary Inputs
Number of third-party vendors				3
Number of pricing vendors merged into an existing vendor			1
Number of prices to be received for middle price to be used					3
Number of prices received when two prices used for average					2
Number of prices used for calculating average when two prices are received					2
Number of prices received that are subject to additional validation					1
Mortgage-backed securities (MBS) | Minimum
Summary of Valuation Techniques and Primary Inputs
Number of third-party vendors, price available subject to additional validation					0
Mortgage-backed securities (MBS) | Maximum
Summary of Valuation Techniques and Primary Inputs
Number of third-party vendors	3
Number of third-party vendors, price available subject to additional validation					1
Advances
Summary of Valuation Techniques and Primary Inputs
Quantitative threshold for significance (as a percent)					10.00%
Private-label MBS
Summary of Valuation Techniques and Primary Inputs
Number of PLMBS determined to be OTTI | security	0	0
Private-label MBS | Residential mortgage-backed securities | Maximum
Summary of Valuation Techniques and Primary Inputs
Number of points from median price to be included among the cluster | Point	7	7
GSE | Mortgage-backed securities (MBS) | Maximum
Summary of Valuation Techniques and Primary Inputs
Number of points from median price to be included among the cluster | Point	2	2
Measured on a nonrecurring basis | Past due 180 days or more
Summary of Valuation Techniques and Primary Inputs
Mortgage loans held-for-portfolio | $	$ 1,308	$ 3,496	$ 1,308		$ 1,308
Level 2 | Measured on a nonrecurring basis | Past due 180 days or more
Summary of Valuation Techniques and Primary Inputs
Mortgage loans held-for-portfolio | $	$ 1,308	$ 3,496	$ 1,308		$ 1,308

Fair Values of Financial Inst92

Fair Values of Financial Instruments. - Items Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Assets
Trading securities (Note 5)	$ 30,911	$ 131,151
Available-for-sale securities	634,096	697,812
Advances	2,741,800	9,873,157
Derivative assets	344,838	328,815
Derivative assets	490,806	726,424
Netting Adjustment and Cash Collateral	(145,968)	(397,609)
Liabilities
Consolidated obligations: Discount notes (to the extent FVO is elected)	(3,679,025)	(12,228,412)
Consolidated obligations: Bonds (to the extent FVO is elected)	(399,794)	(2,052,513)
Derivative liabilities	(116,814)	(144,885)
Derivative liabilities	(384,234)	(443,803)
Netting Adjustment and Cash Collateral	267,420	298,918
Mortgage delivery commitments
Assets
Derivative assets	14	60
Liabilities
Derivative liabilities	(79)	(100)
GSE securities
Assets
Trading securities (Note 5)	30,911	30,969
U.S. treasury notes
Assets
Trading securities (Note 5)		100,182
Measured on a recurring basis
Assets
Advances	2,741,800	9,873,157
Netting Adjustment and Cash Collateral	(145,968)	(397,609)
Total assets	3,751,659	11,030,995
Liabilities
Consolidated obligations: Discount notes (to the extent FVO is elected)	(3,679,025)	(12,228,412)
Consolidated obligations: Bonds (to the extent FVO is elected)	(399,794)	(2,052,513)
Netting Adjustment and Cash Collateral	267,420	298,918
Total liabilities	(4,195,712)	(14,425,910)
Measured on a recurring basis | Interest-rate derivatives
Assets
Derivative assets	344,838	328,815
Netting Adjustment and Cash Collateral	(145,968)	(397,609)
Liabilities
Derivative liabilities	(116,814)	(144,885)
Netting Adjustment and Cash Collateral	267,420	298,918
Measured on a recurring basis | Mortgage delivery commitments
Assets
Derivative assets	14	60
Liabilities
Derivative liabilities	(79)	(100)
Measured on a recurring basis | GSE securities
Assets
Trading securities (Note 5)	30,911	30,969
Measured on a recurring basis | U.S. treasury notes
Assets
Trading securities (Note 5)		100,182
Measured on a recurring basis | Equity and bond funds
Assets
Available-for-sale securities	46,030	41,718
Measured on a recurring basis | GSE | Mortgage-backed securities (MBS)
Assets
Available-for-sale securities	588,066	656,094
Measured on a recurring basis | Level 1
Assets
Total assets	46,030	41,718
Measured on a recurring basis | Level 1 | Equity and bond funds
Assets
Available-for-sale securities	46,030	41,718
Measured on a recurring basis | Level 2
Assets
Advances	2,741,800	9,873,157
Total assets	3,851,597	11,386,886
Liabilities
Consolidated obligations: Discount notes (to the extent FVO is elected)	(3,679,025)	(12,228,412)
Consolidated obligations: Bonds (to the extent FVO is elected)	(399,794)	(2,052,513)
Total liabilities	(4,463,132)	(14,724,828)
Measured on a recurring basis | Level 2 | Interest-rate derivatives
Assets
Derivative assets	490,806	726,424
Liabilities
Derivative liabilities	(384,234)	(443,803)
Measured on a recurring basis | Level 2 | Mortgage delivery commitments
Assets
Derivative assets	14	60
Liabilities
Derivative liabilities	(79)	(100)
Measured on a recurring basis | Level 2 | GSE securities
Assets
Trading securities (Note 5)	30,911	30,969
Measured on a recurring basis | Level 2 | U.S. treasury notes
Assets
Trading securities (Note 5)		100,182
Measured on a recurring basis | Level 2 | GSE | Mortgage-backed securities (MBS)
Assets
Available-for-sale securities	$ 588,066	$ 656,094

Fair Values of Financial Inst93

Fair Values of Financial Instruments. - Items Measured at Fair Value on a Non-recurring Basis (Details) $ in Thousands	Jun. 30, 2017USD ($)security	Dec. 31, 2016USD ($)security
Assets recorded at fair value on a recurring or non-recurring basis
Held-to-maturity securities	$ 17,277,233	$ 16,146,971
Private-label MBS
Assets recorded at fair value on a recurring or non-recurring basis
Number of MBS determined to be OTTI | security	0	0
Measured on a nonrecurring basis
Assets recorded at fair value on a recurring or non-recurring basis
Real estate owned	$ 650	$ 1,089
Total assets at fair value	1,958	4,585
Measured on a nonrecurring basis | Past due 180 days or more
Assets recorded at fair value on a recurring or non-recurring basis
Mortgage loans held-for-portfolio	1,308	3,496
Level 2 | Measured on a nonrecurring basis
Assets recorded at fair value on a recurring or non-recurring basis
Total assets at fair value	1,308	3,496
Level 2 | Measured on a nonrecurring basis | Past due 180 days or more
Assets recorded at fair value on a recurring or non-recurring basis
Mortgage loans held-for-portfolio	1,308	3,496
Level 3 | Measured on a nonrecurring basis
Assets recorded at fair value on a recurring or non-recurring basis
Real estate owned	650	1,089
Total assets at fair value	$ 650	$ 1,089

Fair Values of Financial Inst94

Fair Values of Financial Instruments. - Fair Value Option (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016	Jun. 30, 2017	Dec. 31, 2016
Activity related to financial instruments for which the Bank elected the fair value option
Net gains (losses) on financial instruments held under fair value option				$ (3,581)	$ (2,891)	$ (1,862)	$ (11,994)
Change in fair value included in the Statements of Income for financial instruments for which the fair value option has been elected
Interest Income				361,306	210,149	678,077	401,423
Net gains (losses) on financial instruments held under fair value option				(3,581)	(2,891)	(1,862)	(11,994)
Advances, fair value option
Fair Value Option Disclosures
Adjustments to fair values of assets recorded under fair value option for instrument-specific credit risk	$ 0	$ 0	$ 0
Activity related to financial instruments for which the Bank elected the fair value option
Balance, beginning of the period				4,500,587	8,222,792	9,873,157	9,532,553	$ 9,532,553
New transactions elected for fair value option					779,425	5,000,000	1,384,425
Maturities and terminations				(1,754,712)	(1,148,240)	(12,124,489)	(3,073,240)
Net gains (losses) on financial instruments held under fair value option				(2,120)	(236)	(3,552)	8,314
Change in accrued interest/ unaccreted balance				(1,955)	(790)	(3,316)	899
Balance, end of the period	2,741,800	9,873,157	7,852,951	2,741,800	7,852,951	2,741,800	7,852,951	9,873,157
Change in fair value included in the Statements of Income for financial instruments for which the fair value option has been elected
Interest Income				11,796	17,680	34,210	35,796
Net gains (losses) on financial instruments held under fair value option				(2,120)	(236)	(3,552)	8,314
Total Change in Fair Value Included in Current Period Earnings				9,676	17,444	30,658	44,110
Comparison of aggregate fair value and aggregate remaining contractual principal balance outstanding of financial instruments for which the fair value option has been elected
Aggregate Unpaid Principal Balance									$ 2,735,079	$ 9,859,504
Aggregate Fair Value	2,741,800	9,873,157	7,852,951	4,500,587	8,222,792	9,873,157	9,532,553	9,532,553	2,741,800	9,873,157
Fair Value Over/(Under) Aggregate Unpaid Principal Balance									6,721	13,653
Consolidated obligations, fair value option
Fair Value Option Disclosures
Adjustments to fair values of liabilities recorded under fair value option for instrument-specific credit risk	0	0	0
Activity related to financial instruments for which the Bank elected the fair value option
Balance, beginning of the period						(14,280,925)
Net gains (losses) on financial instruments held under fair value option				(1,461)	(2,655)	1,690	(20,308)
Balance, end of the period	(4,078,819)	(14,280,925)		(4,078,819)		(4,078,819)		(14,280,925)
Change in fair value included in the Statements of Income for financial instruments for which the fair value option has been elected
Interest Expense				(9,736)	(20,650)	(26,613)	(37,131)
Net gains (losses) on financial instruments held under fair value option				(1,461)	(2,655)	1,690	(20,308)
Total Change in Fair Value Included in Current Period Earnings				(11,197)	(23,305)	(24,923)	(57,439)
Comparison of aggregate fair value and aggregate remaining contractual principal balance outstanding of financial instruments for which the fair value option has been elected
Aggregate Unpaid Principal Balance									4,069,424	14,254,448
Aggregate Fair Value	4,078,819	14,280,925		4,078,819		14,280,925		14,280,925	4,078,819	14,280,925
Fair Value Over/(Under) Aggregate Unpaid Principal Balance									9,395	26,477
Consolidated obligation - bonds, fair value option
Activity related to financial instruments for which the Bank elected the fair value option
Balance, beginning of the period				(1,432,874)	(9,959,433)	(2,052,513)	(13,320,909)	(13,320,909)
New transactions elected for fair value option					(1,009,950)		(1,424,950)
Maturities and terminations				1,032,020	7,386,475	1,650,550	11,176,475
Net gains (losses) on financial instruments held under fair value option				(288)	(570)	199	(11,902)
Change in accrued interest/ unaccreted balance				1,348	6,430	1,970	4,238
Balance, end of the period	(399,794)	(2,052,513)	(3,577,048)	(399,794)	(3,577,048)	(399,794)	(3,577,048)	(2,052,513)
Change in fair value included in the Statements of Income for financial instruments for which the fair value option has been elected
Interest Expense				(2,063)	(7,627)	(4,657)	(16,378)
Net gains (losses) on financial instruments held under fair value option				(288)	(570)	199	(11,902)
Total Change in Fair Value Included in Current Period Earnings				(2,351)	(8,197)	(4,458)	(28,280)
Comparison of aggregate fair value and aggregate remaining contractual principal balance outstanding of financial instruments for which the fair value option has been elected
Aggregate Unpaid Principal Balance									399,000	2,049,550
Aggregate Fair Value	399,794	2,052,513	3,577,048	1,432,874	9,959,433	2,052,513	13,320,909	13,320,909	399,794	2,052,513
Fair Value Over/(Under) Aggregate Unpaid Principal Balance									794	2,963
Consolidated obligation - discount notes, fair value option
Activity related to financial instruments for which the Bank elected the fair value option
Balance, beginning of the period				(6,847,460)	(9,497,652)	(12,228,412)	(12,471,868)	(12,471,868)
New transactions elected for fair value option					(5,145,158)	(3,670,424)	(10,299,930)
Maturities and terminations				3,162,012	3,981,784	12,204,898	12,111,283
Net gains (losses) on financial instruments held under fair value option				(1,173)	(2,085)	1,491	(8,406)
Change in accrued interest/ unaccreted balance				7,596	(2,809)	13,422	3,001
Balance, end of the period	(3,679,025)	(12,228,412)	(10,665,920)	(3,679,025)	(10,665,920)	(3,679,025)	(10,665,920)	(12,228,412)
Change in fair value included in the Statements of Income for financial instruments for which the fair value option has been elected
Interest Expense				(7,673)	(13,023)	(21,956)	(20,753)
Net gains (losses) on financial instruments held under fair value option				(1,173)	(2,085)	1,491	(8,406)
Total Change in Fair Value Included in Current Period Earnings				(8,846)	(15,108)	(20,465)	(29,159)
Comparison of aggregate fair value and aggregate remaining contractual principal balance outstanding of financial instruments for which the fair value option has been elected
Aggregate Unpaid Principal Balance									3,670,424	12,204,898
Aggregate Fair Value	$ 3,679,025	$ 12,228,412	$ 10,665,920	$ 6,847,460	$ 9,497,652	$ 12,228,412	$ 12,471,868	$ 12,471,868	3,679,025	12,228,412
Fair Value Over/(Under) Aggregate Unpaid Principal Balance									$ 8,601	$ 23,514

Commitments and Contingencies95

Commitments and Contingencies. - Consolidated Obligations Joint and Several Liability and Standby Letters of Credit (Details) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2017USD ($)Institution	Dec. 31, 2016USD ($)
Obligations subject to joint and several liability | All other FHLBanks
Guarantee obligations
Joint and several liability, number of Federal Home Loan Banks unable to repay their participation in consolidated obligations, minimum | Institution	1
Obligations subject to joint and several liability | Consolidated obligations | All other FHLBanks
Guarantee obligations
Aggregate amount outstanding	$ 1,000,000	$ 1,000,000
Standby letters of credit
Guarantee obligations
Aggregate amount outstanding	$ 13,400	$ 12,800
Maximum original terms	15 years	15 years
Standby letters of credit | Other liabilities
Guarantee obligations
Unearned fees	$ 0.9	$ 0.8

Commitments and Contingencies96

Commitments and Contingencies. - MPF Program and Advances to Members (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Commitments to fund additional advances | Advances
Commitments
Conditional agreements	$ 0	$ 0
Mortgage loans receivable (MPF)
Commitments
Conditional purchase obligation	800,000	1,000,000
Mortgage loans receivable (MPF)
Commitments
Unconditional purchase obligation	$ 26,700	$ 28,400
Maximum commitment period	45 days	45 days

Commitments and Contingencies97

Commitments and Contingencies. - Derivative Contracts (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Derivative contracts with counterparty credit exposure
Cash collateral posted	$ 247.8	$ 256

Commitments and Contingencies98

Commitments and Contingencies. - Summary of Contractual Obligations and Contingencies (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)
Contractual obligations and commitments
Less Than One Year	$ 148,380,157
Greater Than One Year to Three Years	10,591,586
Greater Than Three Years to Five Years	2,327,857
Greater Than Five Years	4,029,592
Total	165,329,192
Contractual Obligations
Contractual obligations and commitments
Less Than One Year	127,822,384
Greater Than One Year to Three Years	10,579,202
Greater Than Three Years to Five Years	2,327,857
Greater Than Five Years	4,029,592
Total	144,759,035
Consolidated obligation bonds
Contractual obligations and commitments
Less Than One Year	70,313,490
Greater Than One Year to Three Years	10,548,770
Greater Than Three Years to Five Years	2,311,740
Greater Than Five Years	3,917,555
Total	87,091,555
Consolidated obligation discount notes
Contractual obligations and commitments
Less Than One Year	57,389,161
Total	57,389,161
Mandatorily redeemable capital stock
Contractual obligations and commitments
Less Than One Year	2,207
Greater Than One Year to Three Years	12,727
Greater Than Three Years to Five Years	464
Greater Than Five Years	5,161
Total	20,559
Lease obligations | Premises
Contractual obligations and commitments
Less Than One Year	3,649
Greater Than One Year to Three Years	9,359
Greater Than Three Years to Five Years	9,073
Greater Than Five Years	52,215
Total	74,296
Other liabilities
Contractual obligations and commitments
Less Than One Year	113,877
Greater Than One Year to Three Years	8,346
Greater Than Three Years to Five Years	6,580
Greater Than Five Years	54,661
Total	183,464
Other commitments
Contractual obligations and commitments
Less Than One Year	20,557,773
Greater Than One Year to Three Years	12,384
Total	20,570,157
Provision for off-balance sheet credit losses	0
Standby letters of credit
Contractual obligations and commitments
Less Than One Year	13,354,452
Greater Than One Year to Three Years	12,384
Total	13,366,836
Consolidated obligation bonds/discount notes traded not settled
Contractual obligations and commitments
Less Than One Year	7,176,615
Total	7,176,615
Open delivery commitments (MPF)
Contractual obligations and commitments
Less Than One Year	26,706
Total	$ 26,706

Related Party Transactions. - S

Related Party Transactions. - Summary of Activity and Outstanding Balances with Related Parties (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Related Party Transactions
Debt assumed by FHLBNY from another FHLBank			$ 0		$ 0
Debt transferred to another FHLBNY			0		0
Advances transferred or sold by FHLBNY to another FHLBank	$ 0	$ 0	0		0
Advances Transferred or Sold from Other Federal Home Loan Banks	0	0	0	$ 0
Mortgage-backed securities acquired by FHLBNY from another FHLBank	0	0	0		0
Notional amounts outstanding	95,980,261,000		95,980,261,000				$ 94,378,115,000
Overnight loans extended to other FHLBanks	500,000,000	600,000,000	$ 500,000,000		900,000,000
Borrowing period from other FHLBanks			1 day
Overnight loan borrowed from other FHLBanks	0	0	$ 0		0
Assets
Advances	117,934,006,000		117,934,006,000				109,256,625,000
Loans to other FHLBanks							255,000,000
Accrued interest receivable	186,001,000		186,001,000				163,379,000
Liabilities and capital
Deposits	1,927,747,000		1,927,747,000				1,240,749,000
Mandatorily redeemable capital stock	20,559,000	29,878,000	20,559,000		29,878,000	$ 20,506,000	31,435,000	$ 30,505,000	$ 19,499,000
Accrued interest payable	149,264,000		149,264,000				130,178,000
Affordable Housing Program	121,282,000	114,965,000	121,282,000		114,965,000	$ 117,812,000	125,062,000	$ 111,316,000	113,352,000
Other liabilities	183,464,000		183,464,000				167,234,000
Total capital	8,119,582,000	6,774,221,000	8,119,582,000		6,774,221,000		7,624,081,000		$ 6,719,482,000
FHLBank of Chicago | MPF program services
Related Party Transactions
Purchases of mortgage loans, cumulative participations by other Federal Home Loan Banks	13,400,000		13,400,000				15,500,000
Fees paid	600,000	$ 500,000	1,100,000		$ 1,000,000
FHLBank of Chicago | Use of MBS cash flow model
Related Party Transactions
Annual fee			6,000
Smaller members | Intermediation / Cleared | Swaps
Related Party Transactions
Notional amounts outstanding	184,000,000		184,000,000				129,000,000
Related Party
Assets
Advances	117,934,006,000		117,934,006,000				109,256,625,000
Loans to other FHLBanks							255,000,000
Accrued interest receivable	144,378,000		144,378,000				126,026,000
Liabilities and capital
Deposits	1,927,747,000		1,927,747,000				1,240,749,000
Mandatorily redeemable capital stock	20,559,000		20,559,000				31,435,000
Accrued interest payable	381,000		381,000				68,000
Affordable Housing Program	121,282,000		121,282,000				125,062,000
Other liabilities	74,268,000		74,268,000				67,670,000
Total capital	$ 8,119,582,000		$ 8,119,582,000				$ 7,624,081,000

Related Party Transactions. 100

Related Party Transactions. - Summary of Income and Expense Transactions with Related Parties (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Interest income
Advances	$ 361,306	$ 210,149	$ 678,077	$ 401,423
Loans to other FHLBanks	12	12	20	15
Interest expense
Deposits	3,063	764	4,887	1,290
Mandatorily redeemable capital stock	239	327	643	623
Service fees and other	4,111	3,481	7,363	6,907
Related Party
Interest income
Advances	361,306	210,149	678,077	401,423
Loans to other FHLBanks	12	12	20	15
Interest expense
Deposits	3,063	764	4,887	1,290
Mandatorily redeemable capital stock	239	327	643	623
Service fees and other	$ 2,876	$ 2,896	$ 5,885	$ 5,723

Segment Information and Conc101

Segment Information and Concentration. - Top Ten Advance Holders and Associated Interest Income (Details) $ in Thousands	Jun. 30, 2017USD ($)Institution	Dec. 31, 2016USD ($)Institution	Jun. 30, 2016USD ($)Institution	Jun. 30, 2017USD ($)Institution	Jun. 30, 2016USD ($)Institution	Jun. 30, 2017USD ($)Institution	Jun. 30, 2016USD ($)Institution	Dec. 31, 2016USD ($)Institution
Segment Information and Concentration
Large member withdrawals which could significantly decrease assets, capital or business, minimum number | Institution						1
Advances
Par Advances	$ 117,944,155	$ 109,240,992		$ 117,944,155		$ 117,944,155		$ 109,240,992
Interest Income				$ 361,306	$ 210,149	$ 678,077	$ 401,423
Par Value of Advances | Credit concentration risk | Top ten advance holders
Advances
Number of top advance holders reported for segment reporting | Institution	10	10	10	10	10	10	10	10
Par Advances	$ 84,919,052	$ 80,849,706	$ 66,167,502	$ 84,919,052	$ 66,167,502	$ 84,919,052	$ 66,167,502	$ 80,849,706
Percentage of Total	71.99%	74.01%	70.08%
Par Value of Advances | Credit concentration risk | Citibank, N.A.
Advances
Par Advances	$ 35,550,000	$ 33,551,388	$ 15,550,000	35,550,000	15,550,000	35,550,000	15,550,000	33,551,388
Percentage of Total	30.14%	30.71%	16.47%
Par Value of Advances | Credit concentration risk | Metropolitan Life Insurance Company
Advances
Par Advances	$ 14,445,000	$ 14,445,000	$ 13,895,000	14,445,000	13,895,000	14,445,000	13,895,000	14,445,000
Percentage of Total	12.25%	13.22%	14.72%
Par Value of Advances | Credit concentration risk | New York Community Bancorp, Inc.
Advances
Par Advances	$ 11,554,500	$ 11,664,500	$ 11,614,400	11,554,500	11,614,400	11,554,500	11,614,400	11,664,500
Percentage of Total	9.79%	10.68%	12.30%
Par Value of Advances | Credit concentration risk | New York Community Bank
Advances
Par Advances	$ 11,280,600	$ 11,380,600	$ 11,027,100	11,280,600	11,027,100	11,280,600	11,027,100	11,380,600
Percentage of Total	9.56%	10.42%	11.68%
Par Value of Advances | Credit concentration risk | New York Commercial Bank
Advances
Par Advances	$ 273,900	$ 283,900	$ 587,300	273,900	587,300	273,900	587,300	283,900
Percentage of Total	0.23%	0.26%	0.62%
Par Value of Advances | Credit concentration risk | HSBC Bank USA, National Association
Advances
Par Advances	$ 4,900,000	$ 5,700,000	$ 6,700,000	4,900,000	6,700,000	4,900,000	6,700,000	5,700,000
Percentage of Total	4.15%	5.22%	7.10%
Par Value of Advances | Credit concentration risk | First Niagara Bank, National Association
Advances
Par Advances			$ 5,317,000		5,317,000		5,317,000
Percentage of Total			5.63%
Par Value of Advances | Credit concentration risk | Investors Bank
Advances
Par Advances	$ 4,516,237	$ 4,409,420	$ 3,756,602	4,516,237	3,756,602	4,516,237	3,756,602	4,409,420
Percentage of Total	3.83%	4.04%	3.98%
Par Value of Advances | Credit concentration risk | Morgan Stanley Private Bank, NA
Advances
Par Advances	$ 3,400,000			3,400,000		3,400,000
Percentage of Total	2.88%
Par Value of Advances | Credit concentration risk | Valley National Bank
Advances
Par Advances	$ 2,907,000		$ 2,155,500	2,907,000	2,155,500	2,907,000	2,155,500
Percentage of Total	2.46%		2.28%
Par Value of Advances | Credit concentration risk | AXA Equitable Life Insurance Company
Advances
Par Advances	$ 2,620,415	$ 2,238,498		2,620,415		2,620,415		2,238,498
Percentage of Total	2.22%	2.05%
Par Value of Advances | Credit concentration risk | Signature Bank
Advances
Par Advances	$ 2,600,900	$ 2,050,900	$ 2,380,000	2,600,900	2,380,000	2,600,900	2,380,000	2,050,900
Percentage of Total	2.21%	1.88%	2.52%
Par Value of Advances | Credit concentration risk | Goldman Sachs Bank USA
Advances
Par Advances		$ 2,425,000	$ 2,425,000		2,425,000		2,425,000	2,425,000
Percentage of Total		2.22%	2.57%
Par Value of Advances | Credit concentration risk | New York Life Insurance Company
Advances
Par Advances	$ 2,425,000	$ 2,275,000		2,425,000		2,425,000		2,275,000
Percentage of Total	2.06%	2.08%
Par Value of Advances | Credit concentration risk | Astoria Bank
Advances
Par Advances		$ 2,090,000	$ 2,374,000		2,374,000		2,374,000	2,090,000
Percentage of Total		1.91%	2.51%
Interest income, top ten advance holders | Member concentration | Top ten advance holders
Advances
Interest Income				$ 281,138	$ 202,683	$ 537,885	$ 403,830	$ 828,135
Percentage of Total				100.00%	100.00%	100.00%	100.00%	100.00%
Interest income, top ten advance holders | Member concentration | Citibank, N.A.
Advances
Interest Income				$ 92,248	$ 32,790	$ 179,835	$ 61,908	$ 188,265
Percentage of Total				32.81%	16.18%	33.43%	15.33%	22.73%
Interest income, top ten advance holders | Member concentration | Metropolitan Life Insurance Company
Advances
Interest Income				$ 54,143	$ 50,682	$ 104,765	$ 104,424	$ 202,428
Percentage of Total				19.26%	25.00%	19.48%	25.85%	24.44%
Interest income, top ten advance holders | Member concentration | New York Community Bancorp, Inc.
Advances
Interest Income				$ 45,766	$ 41,725	$ 90,690	$ 85,745	$ 172,081
Percentage of Total				16.28%	20.59%	16.86%	21.23%	20.78%
Interest income, top ten advance holders | Member concentration | New York Community Bank
Advances
Interest Income				$ 44,817	$ 40,350	$ 88,787	$ 82,875	$ 166,832
Percentage of Total				15.94%	19.91%	16.51%	20.52%	20.15%
Interest income, top ten advance holders | Member concentration | New York Commercial Bank
Advances
Interest Income				$ 949	$ 1,375	$ 1,903	$ 2,870	$ 5,249
Percentage of Total				0.34%	0.68%	0.35%	0.71%	0.63%
Interest income, top ten advance holders | Member concentration | HSBC Bank USA, National Association
Advances
Interest Income				$ 17,722	$ 15,152	$ 34,527	$ 27,210	$ 62,770
Percentage of Total				6.30%	7.48%	6.42%	6.74%	7.58%
Interest income, top ten advance holders | Member concentration | First Niagara Bank, National Association
Advances
Interest Income					$ 11,079		$ 21,194
Percentage of Total					5.47%		5.25%
Interest income, top ten advance holders | Member concentration | Investors Bank
Advances
Interest Income				$ 21,527	$ 16,748	$ 41,232	$ 33,264	$ 69,571
Percentage of Total				7.66%	8.26%	7.67%	8.24%	8.40%
Interest income, top ten advance holders | Member concentration | Morgan Stanley Private Bank, NA
Advances
Interest Income				$ 6,069		$ 6,365
Percentage of Total				2.16%		1.18%
Interest income, top ten advance holders | Member concentration | Valley National Bank
Advances
Interest Income				$ 13,209	$ 12,210	$ 24,059	$ 25,532
Percentage of Total				4.70%	6.02%	4.47%	6.32%
Interest income, top ten advance holders | Member concentration | AXA Equitable Life Insurance Company
Advances
Interest Income				$ 12,636		$ 23,587		$ 18,879
Percentage of Total				4.49%		4.39%		2.28%
Interest income, top ten advance holders | Member concentration | Signature Bank
Advances
Interest Income				$ 8,756	$ 6,508	$ 15,772	$ 12,668	$ 24,565
Percentage of Total				3.12%	3.21%	2.93%	3.14%	2.97%
Interest income, top ten advance holders | Member concentration | Goldman Sachs Bank USA
Advances
Interest Income					$ 5,574		$ 11,269	$ 23,753
Percentage of Total					2.75%		2.79%	2.87%
Interest income, top ten advance holders | Member concentration | New York Life Insurance Company
Advances
Interest Income				$ 9,062		$ 17,053		$ 24,816
Percentage of Total				3.22%		3.17%		3.00%
Interest income, top ten advance holders | Member concentration | Astoria Bank
Advances
Interest Income					$ 10,215		$ 20,616	$ 41,007
Percentage of Total					5.04%		5.11%	4.95%

Subsequent Events. (Details)

Subsequent Events. (Details) - USD ($) $ in Thousands		Aug. 01, 2017	Jun. 30, 2017	Jun. 30, 2016
Subsequent Event [Line Items]
Capital stock purchase requirement for FHLBNY membership as a percentage of members' Mortgage-related assets			0.15%
Excess Membership stock repurchased			$ 2,505,473	$ 1,917,766
Capital Stock | Capital Stock Class B
Subsequent Event [Line Items]
Excess Membership stock repurchased	[1]		$ 2,505,473	$ 1,917,766
Subsequent event
Subsequent Event [Line Items]
Capital stock purchase requirement for FHLBNY membership as a percentage of members' Mortgage-related assets		0.125%
Subsequent event | Capital Stock | Capital Stock Class B
Subsequent Event [Line Items]
Excess Membership stock repurchased		$ 225,000
[1]	Putable stock.