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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	November 30, 2006
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  	Federal Home Loan Bank of New York
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	Federally Chartered Corporation
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  	000-51397
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  	136400946
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
  	(I.R.S. Employer
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	&nbsp;&nbsp;
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  	101 Park Avenue, Floor 5, New York, New York
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  	&nbsp;
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  	10178-0599
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  _________________________________<BR>
  	(Address of principal executive offices)
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  	&nbsp;
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  ___________<BR>
  	(Zip Code)
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  	Registrant&#146;s telephone number, including area code:
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  	&nbsp;
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  	212-441-6616
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:</FONT>
  </P>
  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  <B>
  	Item 8.01 Other Events.
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  Each month, the Chief Executive Officer of the Bank issues a &#x2018;Report from the President&#x2019; (the "Report") to each shareholder. Such Reports may contain information that may be important to security holders. A copy of the Report to shareholders for the month of November 2006 issued on November 30, 2006 appears below.<br><br><br>November 30, 2006<br><br>TO:	   All Stockholders<br>           Individually Addressed)<br><br><br>SUBJECT:   Report for the Month<br><br>At the Bank<br><br>Advance Demand At $65.5 Billion<br><br>As we began the fourth quarter of a successful year, average advances were $65.5 billion for October.  This is down $1.7 billion from September but $3.1 billion above the Bank&#x2019;s expectations in our 2006 business plan.  As previously reported, the decrease primarily reflects the pay down of advances caused by the mergers of former members with institutions out of our District.  We ended the month with $65.7 billion in advances. <br><br>We are proud to be able to provide our members with low-cost liquidity while our bottom line has remained rock solid throughout the year. The FHLBNY&#x2019;s performance reflects sustained advance demand and measured returns on the highest quality, real estate-supported investments.<br><br>Four Industry Stockholders Elected to the Board of Directors for 2007<br><br>As I reported in a special stockholders mailing on November 6, 2006, the 2007 Board election results are in:<br><br>In New York, John M. Scarchilli, President and Chief Executive Officer of Pioneer Savings Bank, Troy, New York, was re-elected to the Board.  John has been serving on the Board since September 2006.  In addition, James W. Fulmer, Chairman, President and Chief Executive Officer, The Bank of Castile, Batavia, New York was elected to the Board.  This will be Jim's first term.<br><br>In New Jersey, Katherine J. Liseno, President and Chief Executive Officer of Metuchen Savings Bank, Metuchen, New Jersey, was re-elected to the Board.  Kathy was first elected to the Board in 2004.<br><br>In Puerto Rico, Jos&#233; Ramon Gonz&#225;lez, President and Chief Executive Officer of Banco Santander Puerto Rico, San Juan, Puerto Rico, was re-elected to the Board.  Mr. Gonz&#225;lez ran unopposed and will begin a three-year term on January 1, 2007.  Jos&#233; was first elected to the Board in 2004.<br><br>Each of these industry directors will serve on the Board for a three-year term ending December 31, 2009.  I congratulate John, Katherine and Jose on their re-election and Jim on his election to the Board.<br><br>FDIC Board Approves Final Deposit Insurance Assessments Rule -- Without Advances<br><br>On November 2, 2006, the FDIC Board approved the Final Deposit Insurance Assessments Rule.  I am delighted to report that the rule excluded FHLBank advances from the definition of volatile liabilities for the purpose of deposit insurance assessment.  Specifically, page 17 states:  "In the NPR, the definition of volatile liabilities did not include Federal Home Loan Bank advances, but the FDIC asked for comment on whether it should.  The FDIC received 569 comments on this issue.  All but one argued that the definition of volatile liabilities should not include Federal Home Loan Bank advances; one argued that the definition should include these advances.  The final rule does not include the volatile liability ratio."<br><br>I am also pleased to report that out of the 569 comments, 56 came from the stakeholders of the Home Loan Bank of New York.  <br><br>The voices and opinions of our stockholders were heard.  They helped to communicate the fundamental point that advances are not "volatile" liabilities but in fact increase the stability of community banks.<br><br><br>Your Home Loan Bank team wishes to thank you, our members, for using our products and services. In doing so, you are able to expand the availability of mortgage credit, compete more effectively in your markets, and promote strong communities.<br><br><br>Sincerely, <br><br><br><br>Alfred A. DelliBovi<br>President<br>
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  <BR><BR><BR><BR><P ALIGN="LEFT" STYLE="FONT-SIZE: 10PT">Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995<br><br>This report contains 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, 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.  We undertake no obligation to revise or update publicly any forward-looking statements for any reason.<br></P><!-- PageBreak START -->
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  	SIGNATURES
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  	Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
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  	Federal Home Loan Bank of New York
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  	&nbsp;&nbsp;
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  <I>
  	November 30, 2006
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  	By:
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  <I>
  	/s/ Patrick A. Morgan
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  	&nbsp;
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  <I>
  	Name: Patrick A. Morgan
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  <I>
  	Title: Senior Vice President and Chief Financial Officer
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_16722.htm", "description": "LIVE FILING", "secsgml_size_bytes": 13734}]
metadata_filer: {"company-data": {"conformed-name": "Federal Home Loan Bank of New York", "cik": "0001329842", "assigned-sic": "6111", "irs-number": "136400946", "state-of-incorporation": "X1", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-51397", "film-number": "061248850"}, "business-address": {"street1": "101 PARK AVENUE, 5TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10178", "phone": "212-681-6000"}, "mail-address": {"street1": "101 PARK AVENUE, 5TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10178"}}
text: Federal Home Loan Bank of New York (Form: 8-K)
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  Date of Report (Date of Earliest Event Reported):
  November 30, 2006
  Federal Home Loan Bank of New York
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Federally Chartered Corporation
  000-51397
  136400946
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  101 Park Avenue, Floor 5, New York, New York
  10178-0599
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  212-441-6616
  Not Applicable
  ______________________________________________
  Former name or former address, if changed since last report
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 8.01 Other Events.
  Each month, the Chief Executive Officer of the Bank issues a 'Report from the President' (the "Report") to each shareholder. Such Reports may contain information that may be important to security holders. A copy of the Report to shareholders for the month of November 2006 issued on November 30, 2006 appears below.
  November 30, 2006
  TO:	   All Stockholders
  Individually Addressed)
  SUBJECT:   Report for the Month
  At the Bank
  Advance Demand At $65.5 Billion
  As we began the fourth quarter of a successful year, average advances were $65.5 billion for October.  This is down $1.7 billion from September but $3.1 billion above the Bank's expectations in our 2006 business plan.  As previously reported, the decrease primarily reflects the pay down of advances caused by the mergers of former members with institutions out of our District.  We ended the month with $65.7 billion in advances.
  We are proud to be able to provide our members with low-cost liquidity while our bottom line has remained rock solid throughout the year. The FHLBNY's performance reflects sustained advance demand and measured returns on the highest quality, real estate-supported investments.
  Four Industry Stockholders Elected to the Board of Directors for 2007
  As I reported in a special stockholders mailing on November 6, 2006, the 2007 Board election results are in:
  In New York, John M. Scarchilli, President and Chief Executive Officer of Pioneer Savings Bank, Troy, New York, was re-elected to the Board.  John has been serving on the Board since September 2006.  In addition, James W. Fulmer, Chairman, President and Chief Executive Officer, The Bank of Castile, Batavia, New York was elected to the Board.  This will be Jim's first term.
  In New Jersey, Katherine J. Liseno, President and Chief Executive Officer of Metuchen Savings Bank, Metuchen, New Jersey, was re-elected to the Board.  Kathy was first elected to the Board in 2004.
  In Puerto Rico, José Ramon González, President and Chief Executive Officer of Banco Santander Puerto Rico, San Juan, Puerto Rico, was re-elected to the Board.  Mr. González ran unopposed and will begin a three-year term on January 1, 2007.  José was first elected to the Board in 2004.
  Each of these industry directors will serve on the Board for a three-year term ending December 31, 2009.  I congratulate John, Katherine and Jose on their re-election and Jim on his election to the Board.
  FDIC Board Approves Final Deposit Insurance Assessments Rule -- Without Advances
  On November 2, 2006, the FDIC Board approved the Final Deposit Insurance Assessments Rule.  I am delighted to report that the rule excluded FHLBank advances from the definition of volatile liabilities for the purpose of deposit insurance assessment.  Specifically, page 17 states:  "In the NPR, the definition of volatile liabilities did not include Federal Home Loan Bank advances, but the FDIC asked for comment on whether it should.  The FDIC received 569 comments on this issue.  All but one argued that the definition of volatile liabilities should not include Federal Home Loan Bank advances; one argued that the definition should include these advances.  The final rule does not include the volatile liability ratio."
  I am also pleased to report that out of the 569 comments, 56 came from the stakeholders of the Home Loan Bank of New York.
  The voices and opinions of our stockholders were heard.  They helped to communicate the fundamental point that advances are not "volatile" liabilities but in fact increase the stability of community banks.
  Your Home Loan Bank team wishes to thank you, our members, for using our products and services. In doing so, you are able to expand the availability of mortgage credit, compete more effectively in your markets, and promote strong communities.
  Sincerely,
  Alfred A. DelliBovi
  President
  Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
  This report contains 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, 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.  We undertake no obligation to revise or update publicly any forward-looking statements for any reason.
  Top of the Form
  SIGNATURES
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
  Federal Home Loan Bank of New York
  November 30, 2006
  By:
  /s/ Patrick A. Morgan
  Name: Patrick A. Morgan
  Title: Senior Vice President and Chief Financial Officer