NEW YORK, July 21 /PRNewswire-HISPANIC PR WIRE/ — AXA Equitable Life Insurance Company and MONY Life Insurance Company, as subsidiaries of AXA Financial Inc., are welcomed as members of the Federal Home Loan Bank of New York (FHLBNY).
“We are delighted that AXA Equitable Life Insurance Company and MONY Life Insurance Company have joined the Federal Home Loan Bank of New York,” said Alfred A. DelliBovi, President of the FHLBNY. “Membership allows them to take advantage of FHLBNY’s product line of financial services, including reliable, low-cost advances that can be used for liquidity management, funding agreements, and general asset/liability management.”
“We are pleased to be accepted as members of the Federal Home Loan Bank of New York,” said Kevin R. Byrne, Chief Investment Officer of AXA Financial. “Its mission to advance local community development and housing opportunities is consistent with AXA Equitable’s belief in supporting local community development. Membership and the benefits of stock ownership in the Federal Home Loan Bank of New York enhance our business strategy by providing an attractive source of liquidity.”
In business since 1859, AXA/Equitable Life Insurance Company is a leading financial protection company and a premier provider of life insurance, annuity, and investment products and services. AXA Equitable Life Insurance Company and the MONY family of companies are subsidiaries of AXA Financial Inc. (NYSE: AXA), which is part of the global AXA Group. AXA Financial’s assets under management totaled $888.6 billion as of December 31, 2007.
AXA Group has major operations in Europe, North America, and the Asia/Pacific region and is a worldwide leader in financial protection strategies and wealth management.
For more information, please visit http://www.axa-equitable.com/ .
The FHLBNY is a $109 billion, AAA-rated, Congressionally-chartered wholesale bank. It is part of the FHLBank System, a national wholesale banking network of 12 regional, stockholder-owned banks. The FHLBNY serves 293 community lenders in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. The mission of the FHLBNY is to advance housing opportunity and local community development by maximizing the capacity of community-based member lenders to serve their markets.