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Home » Store » Federal Home Loan Banks » FHLBank of NY Settles in Lehman Lawsuit Over Swaps

FHLBank of NY Settles in Lehman Lawsuit Over Swaps

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Federal Home Loan Banks

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The Federal Home Loan Bank of New York settled a lawsuit with Lehman Brothers last week stemming from claims the bank undervalued interest rate swaps in 2008. In Lehman Brothers Holdings Inc. v. Federal Home Loan Bank of New York, documents show that the bank will pay $70 million to the Lehman bankruptcy estate. A recent FHLBank of NY filing with the Securities and Exchange Commission revealed...
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