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<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>

<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P align="center" style="font-size: 10pt"><B>Date of Report (Date of earliest event reported): March 13, 2009</B>

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<P align="center" style="font-size: 24pt"><B>Federal Home Loan Bank of New York<BR></B>
<FONT style="font-size: 10pt">(Exact name of registrant as specified in its charter)
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    <TD style="border-bottom: 1px solid #000000"><B>Federally Chartered Corporation</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>000-51397</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>136400946</B></TD>
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    <TD>(State or other Jurisdiction of Incorporation)</TD>
    <TD>&nbsp;</TD>
    <TD>(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD>(IRS Employer Identification No.)</TD>
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    <TD style="border-bottom: 1px solid #000000"><B>101 Park Avenue, Floor 5, New York, New York<BR></B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>10178-0599</B></TD>
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    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
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<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: <B>(212) 441-6616</B>


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    <TD nowrap style="border-bottom: 1px solid #000000"><B>Not Applicable<BR></B></TD>
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    <TD nowrap>(Former name or former address if changed since last report.)</TD>
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<P align="left" style="font-size: 10pt">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:

<P align="left" style="font-size: 10pt">
<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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<P align="left" style="font-size: 10pt"><B>Item&nbsp;8.01 Other Events.</B>


<P align="left" style="font-size: 10pt">On&nbsp;March&nbsp;13, 2009, the Federal Home Loan Bank of New York&nbsp;issued&nbsp;a&nbsp;report entitled &#147;FHLBNY: Financial Update&#148; and a
report entitled &#147;An Update on Member Business&#148;.&nbsp; Attached as Exhibits&nbsp;99.1&nbsp;and 99.2 to this Current Report on Form
8-K&nbsp;are copies of these reports.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;9.01 Financial Statements and Exhibits.&nbsp;</B>


<P align="left" style="font-size: 10pt">(d)&nbsp;Exhibits.


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    <TD width="3%" nowrap align="left">99.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Report entitled &#147;FHLBNY: Financial Update&#148;, dated&nbsp;March&nbsp;13, 2009.</TD>
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    <TD width="3%" nowrap align="left">99.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Report entitled &#147;An Update on Member Business&#148;, dated March&nbsp;13, 2009.</TD>
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<P align="left" style="font-size: 10pt">SIGNATURES


<P align="left" style="font-size: 10pt">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 thereunto duly authorized.



<P align="left" style="margin-left:46%; font-size: 10pt">Federal Home Loan Bank of New York


<P align="left" style="font-size: 10pt">Date: <I>March&nbsp;18, 2009</I>



<P align="left" style="margin-left:46%; font-size: 10pt; margin-top: -11pt">By: <U><B>/</B>s/&nbsp;<I>Patrick A. Morgan&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</I></U>
<BR>
Name: <I>Patrick A. Morgan</I>
<BR>
Title: <I>Senior Vice President and Chief Financial Officer</I>

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<P align="center" style="font-size: 10pt; display: none">2
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<P align="left" style="font-size: 10pt">EXHIBIT INDEX


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    <TD width="3%" nowrap align="left">99.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Report entitled &#147;FHLBNY: Financial Update&#148;, dated&nbsp;March&nbsp;13, 2009.</TD>
</TR>

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    <TD width="3%" nowrap align="left">99.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Report entitled &#147;An Update on Member Business&#148;, dated March&nbsp;13, 2009.</TD>
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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): March 13, 2009
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 of Incorporation)
(Commission File Number)
(IRS Employer 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:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events.
On March 13, 2009, the Federal Home Loan Bank of New York issued a report entitled "FHLBNY: Financial Update" and a
report entitled "An Update on Member Business".  Attached as Exhibits 99.1 and 99.2 to this Current Report on Form
8-K are copies of these reports.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
99.1
Report entitled "FHLBNY: Financial Update", dated March 13, 2009.
99.2
Report entitled "An Update on Member Business", dated March 13, 2009.
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 thereunto duly authorized.
Federal Home Loan Bank of New York
Date:
March 18, 2009
By:
/
s/
Patrick A. Morgan
Name:
Patrick A. Morgan
Title:
Senior Vice President and Chief Financial Officer
EXHIBIT INDEX
99.1
Report entitled "FHLBNY: Financial Update", dated March 13, 2009.
99.2
Report entitled "An Update on Member Business", dated March 13, 2009.