The Federal Home Loan Bank of New York (FHLBNY) announced a significant leadership change on October 22, 2026, with the resignation of President and Chief Executive Officer Randolph C. Snook. His resignation took effect on October 20, 2026, and he will continue to serve as a senior advisor until the end of the year to assist in the transition. Jonathan West has been appointed as Interim President and CEO during the search for Snook's permanent replacement.
This leadership transition is crucial for FHLBNY as it navigates its role in providing reliable liquidity to its member financial institutions, particularly in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. The change may also have broader implications for the federally-sponsored credit agency sector, which includes other institutions that provide similar financial services.
Background
Founded as part of the Federal Home Loan Bank System, the Federal Home Loan Bank of New York operates under the SIC classification of Federal & Federally-Sponsored Credit Agencies (SIC 6111). The bank serves 337 financial institutions, supporting housing and local community development. Recent filings indicate ongoing activity, including several 8-K reports filed in October 2026, highlighting the bank's commitment to transparency and regulatory compliance.
What the Filing Says
According to the SEC filing (accession number 0001654954-26-009100), Snook's resignation was officially announced, and the Board of Directors has begun the process of identifying a permanent successor. Jonathan West, who has been with the bank since May 2015 and served in various leadership roles, including Chief Legal Officer, has been designated as the Interim President and CEO.
“The Board thanks Randy for his stewardship and service to our cooperative and wishes him well on his future endeavors,” said Christopher P. Martin, Chair of the Board of Directors. West expressed gratitude for the opportunity to lead during this transitional period.
Impact
This leadership change may affect FHLBNY's operations and its relationships with member institutions. With West's extensive experience in the FHLBank System, the bank aims to maintain stability and continuity during the transition. The bank's ability to provide liquidity and support to its members is critical, especially in the current economic climate.
What's Next
The filing does not specify what happens next regarding the search for a permanent CEO or any upcoming votes related to the leadership transition. However, the bank is expected to keep its stakeholders informed as the process unfolds.