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Moody's reaffirms FHLBank System's Aaa long-term rating

Moody's reaffirmed the Federal Home Loan Bank System's Aaa long-term rating and Prime-1 short-term deposit rating.

The outlook on the ratings is stable, reflecting the stable outlook on the U.S. government's Aaa debt rating.

The rating agency also reaffirmed Federal Home Loan Bank of New York's Aaa rating and assigned an aa3 rating for its baseline credit assessment, according to a June 5 press release from FHLB New York.

Moody's attributed the rating to the asset quality of FHLB New York's advance portfolio, investment portfolio and mortgage portfolio, as well as its "consistent earnings generation and its role as a central liquidity provider for U.S. banks."