NEW YORK, June 28, 2019 /PRNewswire/ -- The Federal Home Loan Bank of New York (FHLBNY) is now soliciting nominations for candidates to serve on its Board of Directors (Board) for terms commencing on January 1, 2020, the FHLBNY announced in an electronic communication sent to its members on June 28, 2019.
"The Board of Directors is a vital part of our cooperative, providing guidance and lending their expertise to our decision-making," said José R. González, president and CEO of the FHLBNY. "The depth and diversity of our Board is one of the greatest strengths of our cooperative, and I encourage all of our members to participate in the election process."
In total, four Directorships – two seats representing the FHLBNY's New York members, and two Independent Directorships representing the whole District – are up for election in 2019.
The FHLBNY's official Certificate of Nomination was included in the communication sent to New York members on June 28, 2019. Eligible stockholders may, using the Certificate, nominate one person for each of the two open New York Member Directorships.
Separately, those individuals interested in being nominated for the two open Independent Directorships must first submit an Independent Director Application Form to the FHLBNY.
All electronic Certificates of Nomination must be submitted and all mailed Independent Director Application Forms must be received at the FHLBNY by 5:00 p.m. ET on July 30, 2019.
For more information on the election and a list of key election dates, see our Corporate Governance page at http://www.fhlbny.com/corporate-governance.
The FHLBNY's Board of Directors consists of a talented group of dedicated individuals that benefits from, among other things, demographic (including gender and racial) diversity, and the FHLBNY expects that this will continue in the future. As members consider potential nominations for Member Directorships and give thought to persons who might be interested in Independent Directorships, please keep diversity in mind.
Questions on the 2019 Director election process should be directed to Paul Friend, the FHLBNY's General Counsel, at email@example.com.
About the Federal Home Loan Bank of New York
The Federal Home Loan Bank of New York is a Congressionally chartered, wholesale Bank. It is part of the Federal Home Loan Bank System, a national wholesale banking network of 11 regional, stockholder-owned banks. As of March 31, 2019, the FHLB of New York serves 323 financial institutions in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. The Federal Home Loan Banks support the efforts of local members to help provide financing for America's homebuyers.
SOURCE Federal Home Loan Bank of New York