New York FHLB Spikes First QuarterPayout

April 28, 2005, 1:00 a.m. EDT 1 Min Read

NEW YORK - (04/28/05) -- The Federal Home Loan Bank of NewYork said it boosted its first quarter dividend to 4.70%, or $42.6million in cash. That's up from a payout of just 1.58% for thefirst quarter last year, and 3.05% for the fourth quarter. The NewYork bank said it expects the dividend rate to be above 4% for theremainder of the year, as well. The New York bank has 304 membersinstitutions, including 27 credit unions, in New York, New Jersey,Puerto Rico and the Virgin Islands.

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