John R. Buran Re-Elected Chairman Of The Federal Home Loan Bank Of New York

BY PR Newswire | AGENCY | 11/18/21 03:00 PM EST

NEW YORK, Nov. 18, 2021 /PRNewswire/ -- The Federal Home Loan Bank of New York (FHLBNY) announced today that John R. Buran has been re-elected by its Board of Directors (Board) to serve as the Board's chairman for a two-year term that will commence on January 1, 2022. Mr. Buran, who is?? president, CEO and a director of both FHLBNY member Flushing Bank and Flushing Bank's holding company, Flushing Financial Corporation, has served on the FHLBNY's Board as a Member Director since December 1, 2010. He has been the Board's chairman since January 1, 2018.

"Over the past two years, the FHLBNY has played an important role in the stability and recovery of our region, working with our more than 320 members to get funding and grant dollars flowing through the communities we all serve," said Mr. Buran.?"The Board has played a key role in these efforts as we all work together to support the FHLBNY's mission. I am honored to continue to serve as chairman of the Board of this vital cooperative, and I thank my fellow Directors for their continued trust in me.?I look forward to working with the Board and management to ensure the FHLBNY remains a reliable partner to our members."

"John's leadership and steady hand continue to serve our cooperative well, especially amid such a challenging operating environment," said Jos? R. Gonz?lez, president and CEO of the FHLBNY. "Throughout this difficult period, our entire Board has remained active and engaged, strengthening our cooperative through its guidance and expertise. We are fortunate to have such a talented group of Directors working together and with management in support of our mission to advance housing opportunity and community development."

Mr. Buran is director, president and CEO of Flushing Financial Corporation, the holding company for FHLBNY member Flushing Bank, and of Flushing Bank.?He joined the holding company and the bank in 2001 as Chief Operating Officer and he became a director of these entities in 2003.?In 2005, he was named president and Chief Executive Officer of both entities. Mr. Buran's career in the banking industry began with Citibank in 1977 where he held a variety of senior management positions. Mr. Buran is past chairman and current Board member of the New York Bankers Association. Mr. Buran also serves on the Advisory Board and is a former Board President of Neighborhood Housing Services of New York City.?

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, 2021, the FHLBNY serves 321?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, the Risk Factors set forth in our Annual Reports on Form 10-K and our Quarterly Reports on Form 10-Q filed with the SEC, as well as 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. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to revise or update publicly any forward-looking statements for any reason.

CONTACT:? Brian Finnegan
(212) 441-6877

Cision View original content:https://www.prnewswire.com/news-releases/john-r-buran-re-elected-chairman-of-the-federal-home-loan-bank-of-new-york-301428563.html

SOURCE Federal Home Loan Bank of New York

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

fir_news_article