Earnings Per Share of Capital

6 Months Ended

Jun. 30, 2011

Note 13. Earnings Per Share of Capital.

The following table sets forth the computation of earnings per share (dollars in thousands except per share amounts):


	Three months ended June 30,						Six months ended June 30,
	2011			2010			2011			2010
Net income	$	53,311		$	56,665		$	124,291		$	110,305


Net income available to stockholders	$	53,311		$	56,665		$	124,291		$	110,305


Weighted average shares of capital		43,663			48,153			44,195			49,257
Less: Mandatorily redeemable capital stock		(587	)		(964	)		(590	)		(1,024	)

Average number of shares of capital used to calculate earnings per share		43,076			47,189			43,605			48,233


Basic earnings per share	$	1.24		$	1.20		$	2.85		$	2.29

Basic and diluted earnings per share of capital are the same. The FHLBNY has no dilutive potential common shares or other common stock equivalents.

The entire disclosure for earnings per share.