NEW YORK, Dec. 21, 2017 /PRNewswire-USNewswire/ -- The Federal Home Loan Bank of New York ("FHLBNY") announced today that Larry E. Thompson has been elected by its Board of Directors ("Board") to serve as the Board's vice chairman for 2018. Mr. Thompson, who is the vice chairman of The Depository Trust & Clearing Corporation, has served on the Bank's Board as an Independent Director since January 1, 2014.
"In my four years on the Board, I have seen firsthand the direct and positive impact the FHLBNY has on the local communities we serve, and I am honored to serve as vice chairman of this institution," said Mr. Thompson. "I thank the Board for its trust in me, and I look forward to continuing to work with my fellow directors and the FHLBNY's management team to ensure that our cooperative remains a reliable partner to our members and the communities we all serve."
"In his role as an Independent Director, Larry has provided our Board and management with his wise counsel and keen insight over the past four years," said José R. González, president and CEO of the FHLBNY. "As he takes on a greater leadership role, we look forward to working with Larry to drive our cooperative forward."
Mr. Thompson currently serves as the vice chairman of the Risk Committee of the FHLBNY, and as a member of the FHLBNY's Audit and Housing committees.
Mr. Thompson is vice chairman of The Depository Trust & Clearing Corporation ("DTCC") and chairman of the board of DTCC Deriv/SERV LLC. As vice chairman, Mr. Thompson leads DTCC's public policy engagement with key regulators and lawmakers globally and serves as a senior advisor to the firm. He is a member of the DTCC Management Committee. Mr. Thompson began his legal career with The Depository Trust Company ("DTC") as associate counsel in 1981. He was elected vice president and deputy general counsel in 1991, senior vice president in 1993, general counsel of DTC in 1999, managing director and first deputy general counsel of DTCC in 2004, and to general counsel in 2005. Previously, he was a partner in Lake, Bogan, Lenoir, Jones & Thompson. Mr. Thompson began his legal career at Davis Polk & Wardwell. He is a 2005 David Rockefeller Fellow and also former chairman of the Securities Clearing Group and former co-chairman of the Unified Clearing Group.
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 September 30, 2017, the FHLBNY serves 325 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.
CONTACT: Eric Amig
SOURCE Federal Home Loan Bank of New York