Larry E. Thompson Re-Elected Vice Chairman Of The Federal Home Loan Bank Of New York

NEW YORK, Nov. 16, 2018 /PRNewswire/ -- The Federal Home Loan Bank of New York ("FHLBNY") announced today that Larry E. Thompson has been re-elected by its Board of Directors ("Board") to serve as the Board's vice chairman for a two-year term commencing January 1, 2019. 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.

"The FHLBNY serves a vital purpose to its region's local lenders and the communities they support, the impact of which we on the Board are fortunate to see firsthand," said Mr. Thompson.  "I thank the Board for its continued trust in me, and look forward to working with my fellow Directors and the FHLBNY's management team over the next two years to help drive the growth of our cooperative."

"We are fortunate to have Larry continue in his role as vice chairman of the Board," said José R. González, president and CEO of the FHLBNY.  "Since joining our Board in 2014, and especially over the past year in his role as vice chairman, Larry has significantly contributed to the growth and success of our franchise through his guidance and leadership.  His contributions are reflective of our entire Board, which is actively involved in strengthening our cooperative and ensuring that we remain positioned to support our members and the communities they serve."

Mr. Thompson currently serves as the vice chairman of the Board, a position he has held since January 1, 2018.  He also serves as chairman of the Board's Risk Committee, as vice chairman of the Board's Executive Committee, and as a member of the Board's Corporate Governance and External Affairs Committee. 

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, 2018, the FHLBNY serves 326 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.

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, 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. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.

CONTACT: Eric Amig
(212) 441-6807
Brian Finnegan
(212) 441-6877

SOURCE Federal Home Loan Bank of New York