Epsilon Consulting Services? ETS Platform Offers Innovative Balance Sheet Solution to Federal Home Loan Bank of New York

BY Business Wire | AGENCY | 11/03/22 09:00 AM EDT

NEW YORK--(BUSINESS WIRE)-- Epsilon Consulting Services is pleased to announce that the Federal Home Loan Bank of New York (FHLBNY) is now live with ETS, Epsilon?s innovative trade management platform that enables rule-based processing and automation.

Designed from the ground up for the Federal Home Loan Banks, and small-to-mid-sized financial institutions, ETS allows its clients to have a unified view of their entire balance sheet and maximize use of their existing or best-of-breed solutions. By offering an alternative to the wasteful ?all-or-nothing? solution designs, ETS enables cost efficient implementation, and greatly reduces the cost of ownership.

The privately capitalized and cooperatively owned Federal Home Loan Banks provide their members ? approximately 6,500 banks, credit unions, insurance companies and CDFIs ? with a reliable source of low-cost funding for housing finance, community lending and asset-liability management, as well as short- and long-term liquidity that meets members? needs. The FHLBanks carry out their core mission of providing liquidity by raising funds in the global financial markets, then lending that money in the form of ?advances? (fully secured loans) to members.

The FHLBNY has utilized ETS as part of a strategic enhancement of its trade management process. As part of this effort, all advance trade requests, execution, management and documentation are now powered by ETS.

?The ETS solution is an important first step in realizing our strategic vision of achieving a single view of our balance sheet,? said Michael Radziemski, Chief Information Officer of the FHLBNY. ?With its ease of use, flexibility, and sophisticated data model, ETS greatly enhances our ability to explore new funding and investment opportunities in the marketplace, reduce manual data entry and greatly automate trade processing activities. Additionally, it will support our ability to offer new and sophisticated products and innovative services to our members.?

?In our view, the days of wasteful and outsized implementations are over,? said Debashis Sen, CEO, Epsilon Consulting Services. ?Instead, our highly sophisticated technology stack makes ETS an achievable and affordable solution which will stand the test of time and maximize the FHLBNY?s existing best-of-breed solutions. Rather than trying to be everything to everyone, we are always focused on our FHLBank clients and their challenges. We are looking forward to the exciting possibilities in the future.?


Source: Epsilon Consulting Services

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.