Federal Home Loan Bank Of New York 8-K Report From The President

EXHIBIT 99.1

Report From The President

DATE: May 16, 2024

FEDERAL HOME LOAN BANK OF NEW YORK 

DECLARES A 9.50% DIVIDEND FOR THE FIRST QUARTER OF 2024

I am pleased to announce that, on May 16, 2024, our Board of Directors approved a dividend for the first quarter of 2024 of 9.50% (annualized).  The dividend proceeds will be distributed to FHLBNY member financial institutions on May 17, 2024.

Throughout the first quarter of 2024, the Federal Home Loan Bank of New York successfully executed on our foundational liquidity mission, delivering strong results for our members and generating significant funding for our affordable housing and community development initiatives.  Our efforts are supported by the capital that our members invest into our cooperative, and our quarterly dividend continues to provide a reasonable and consistent return on this investment.

We filed our Form 10-Q for the first quarter of 2024 with the U.S. Securities and Exchange Commission on May 9, 2024.

Sincerely,

José R. González

President and CEO

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Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 This report may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. These statements may use forward-looking terms, such as "projected," "expects," "may," or their negatives or other variations on these terms. The Bank cautions that, by their nature, forward-looking statements involve risk or uncertainty and that actual results could differ materially from those expressed or implied in these forward-looking statements or could affect the extent to which a particular objective, projection, estimate, or prediction is realized. These forward-looking statements involve risks and uncertainties including, but not limited to, the Risk Factors set forth in our Annual Reports on Form 10-K and our Quarterly Reports on Form 10-Q filed with the SEC, as well as regulatory and accounting rule adjustments or requirements, changes in interest rates, changes in projected business volumes, changes in prepayment speeds on mortgage assets, the cost of our funding, changes in our membership profile, the withdrawal of one or more large members, competitive pressures, shifts in demand for our products, and general economic conditions. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to revise or update publicly any forward-looking statements for any reason.

FEDERAL HOME LOAN BANK OF NEW YORK • 101 PARK AVENUE • NEW YORK, NY 10178 • T: 212.681.6000 • WWW.FHLBNY.COM