WASHINGTON — Alfred A. DelliBovi, the president of the Federal Home Loan Bank of New York, is welcoming FleetBoston Financial Corp. with open arms. He supports its recent application to join the New York bank after having bought its seventh-largest shareholder, Summit Bank.

That puts Mr. DelliBovi at odds with the presidents of several other Home Loan banks, who have said that granting Fleet’s application or letting Washington Mutual belong to both the Dallas and San Francisco banks would give conglomerates undue influence over the system and pose excessive risk.

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