NEW YORK, Nov. 17, 2016 /PRNewswire/ -- The Federal Home Loan Bank of New York ("FHLBNY") is pleased to announce that, on November 17, 2016, its Board of Directors approved a dividend for the third quarter of 2016 of 5.00% (annualized). The dollar amount of the dividend will be approximately $72.0 million. The cash dividend will be distributed to member financial institutions on November 18, 2016. "In providing a consistent return on the investment our members have made in our cooperative, our dividend reflects the Federal Home Loan Bank of New York's role as a steady and reliable partner for our members," said José R. González, president and CEO of the FHLBNY. The FHLBNY filed its Form 10-Q for the third quarter of 2016 with the U.S. Securities and Exchange Commission on November 9, 2016. Federal Home Loan Bank of New YorkThe 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, 2016, the FHLB of New York serves 325 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.