Federal Home Loan Bank of New York Elects New Member Director

What Happened

• The Federal Home Loan Bank of New York (FHLBNY) announced that its Board unanimously elected William J. Turner, Jr., Senior Vice President at Metropolitan Life Insurance Company, as a New York Member Director effective August 19, 2026.
• Mr. Turner fills the vacancy created by the departure of former New York Member Director Steven M. Klein (previously reported July 24, 2026) and will serve through December 31, 2028, the remainder of Mr. Klein’s term. The Board’s election followed Federal Housing Finance Agency rules for filling Federal Home Loan Bank board vacancies.

Key Details

• Effective date of election: August 19, 2026; Director Election Report issued to members on August 25, 2026 (Exhibit 99.1).
• New director: William J. Turner, Jr., Senior Vice President, Metropolitan Life Insurance Company (New York, NY).
• Term expiration: December 31, 2028.
• Committee assignments for 2026: Audit, Housing, and Strategy & Business Committees.
• Compensation: Will be paid under FHLBNY’s 2026 Director Compensation Policy (as disclosed in FHLBNY’s March 20, 2026 Form 10-K).

Why It Matters

• This filing updates investors and members about a change in board composition and committee membership, which affects governance and oversight at FHLBNY.
• The appointment restores full representation for New York members on the Board and follows regulatory procedures for filling bank director vacancies; it does not report changes to executive management or financial results.