Federal Home Loan Bank Of New York  (FHLBNY)
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Federal Home Loan Bank Of New York's



FHLBNY Sales vs. its Competitors Q1 2020

Comparing the results to its competitors, Federal Home Loan Bank Of New York reported Total Revenue decrease in the 1 quarter 2020 year on year by -15.77 %, faster than overall decrease of Federal Home Loan Bank Of New York's competitors by -59.98 %, recorded in the same quarter.

List of FHLBNY Competitors

With net margin of 65.53 % company achieved higher profitability than its competitors.

More on FHLBNY Margin Comparisons

Revenue Growth Comparisons

Net Income Comparison

Federal Home Loan Bank Of New York Net Income in 1 quarter 2020 declined year on year by -22.05 %, slower than the average decrease reported by company's competitors of -73.07 %.

<<  More on FHLBNY Income Comparisons

Federal Home Loan Bank Of New York's Comment on Competitors and Industry Peers

Demand for advances is affected by (among other things) the availability and cost to members of alternate sources of liquidity, including retail deposits and wholesale funding options such as brokered deposits, repurchase agreements and Federal Funds. Historically, members have grown their assets at a faster pace than retail deposits and capital creating a funding gap. We compete with both secured and unsecured suppliers of wholesale funding to fill these potential funding gaps. Such other suppliers of funding may include Wall Street dealers, commercial banks, regional broker-dealers and firms capitalizing on wholesale funding platforms (e.g. “CDARS,” the Certificate of Deposit Account Registry Service). Certain members may have access to alternative wholesale funding sources such as lines of credit, wholesale CD programs, brokered CDs, deposit thru listing service, and sales of securities under agreements to repurchase. Of these wholesale funding sources, the brokered CD market is our number one threat as members continue to increase their usage. An emerging competitor is Deposit Thru Listing Services, which are financial institutions that charge a subscription fee to help banks gather deposits. We have seen a gradual uptick of these wholesale deposits and thus, have added them to our Market Share Analysis and will enhance our monitoring of the service. CDARs borrowing activity has been flat, while Repo and Fed Funds have subsided compared to pre-crisis volume; we expect this trend to extend as advances and brokered CDs continue to take market share. Large members may also have access to the national and global credit markets. The availability of alternative funding sources can vary as a result of market conditions, member creditworthiness, availability of collateral and suppliers’ appetite for the business, as well as other factors. Finally, in the most recent year, other FHLBanks have surfaced as a new competitor as they seek to court REITs and specialty finance companies in our district for membership through the formation of captive insurance companies in their districts.

We compete for funds raised through the issuance of unsecured debt in the national and global debt markets. Competitors include corporate, sovereign, and supranational entities, as well as Government Sponsored Enterprises including Fannie Mae, Freddie Mac, and the Federal Farm Credit Banks (“FFCB”). Increases in the supply of competing debt products could, in the absence of increases in demand, result in higher debt costs or lesser amounts of debt issued at the same cost than would otherwise be the case. In addition, the availability and cost of funds can be adversely affected by regulatory initiatives that could reduce demand for Federal Home Loan Bank system debt. Although the available supply of funds has kept pace with the funding needs of our members, there can be no assurance that this will continue to be the case indefinitely.

There is considerable competition among high credit quality issuers in the markets for callable debt and derivatives. The sale of callable debt and the simultaneous execution of callable derivatives that mirror the debt have been, when available, an important source of competitively priced funding for the FHLBNY. Therefore, the liquidity of markets for callable debt and derivatives is a determinant of our relative cost of funds. There can be no assurance that the current breadth and depth of these markets will be sustained as it is heavily influenced by investor sentiment concerning rising rates and yields and availability of alternative investments.

We compete for the purchase of mortgage loans held-for-sale. For single-family products, competition is primarily with Fannie Mae and Freddie Mac, principally on the basis of price, products, structures, and services offered.

Competition among the 11 member banks of the FHLBanks is limited. A bank holding company with multiple banking charters may operate in more than one FHLBank. If the member has a centralized treasury function, it is possible that there could be competition for advances. A limited number of our member institutions are subsidiaries of financial holding companies with multiple charters and FHLBank memberships. We do not believe, however, that the amount of advances borrowed by these entities, or the amount of capital stock held, is material in the context of its competitive environment. Certain large member financial institutions operating in our district may borrow unsecured Federal funds from other FHLBanks. We are not prohibited by regulation from purchasing short-term investments from our members, but we are not permitted to allow members to borrow unsecured funds from us.


Total Segment Market Share Q1 2020

despite revenue deterioration, Federal Home Loan Bank Of New York inceased its market share in this segment.

company inceased its market share in this segment to approximate 14.96 %.

<<  More on FHLBNY Market Share.

*Market share is not actual measurement, only performance comparison of companies which report and operate within the same segment.

FHLBNY's vs. Competition, Data

(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)

Federal Home Loan Bank Of New York FHLBNY 0 671 443 273
Federal Agricultural Mortgage Corporation AGMA 675 179 140 0
Federal Home Loan Bank Of Atlanta FHLBAT 0 581 374 314
Federal Home Loan Bank Of Boston FHLBBO 0 299 178 205
Federal Home Loan Bank Of Chicago FHLBCH 0 568 303 410
Federal National Mortgage Association Fannie Mae FNMA 13,083 23,431 12,221 7,600
Federal Home Loan Bank Of Cincinnati FHLBCI 0 405 282 203
Federal Home Loan Bank Of Des Moines FHLBDM 0 577 364 271
Federal Home Loan Mortgage Corporation FMCC 0 13,691 5,980 5,416
Federal Home Loan Bank Of Indianapolis FHLBIN 0 256 138 214
Federal Home Loan Bank Of Dallas FHLBDA 0 342 220 207
Federal Home Loan Bank Of Pittsburgh FHLBPI 0 383 255 213
Federal Home Loan Bank Of San Francisco FHLBSF 0 421 215 263
Federal Home Loan Bank Of Topeka FHLBTO 0 236 144 218
SUBTOTAL 13,759 42,038 21,258 15,807


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