New York Fed Discount Window to Assume Collateral Processing Responsibilities
August 1, 2007
Circular No. 11883

Effective August 13, 2007, the Federal Reserve Bank of New York will transfer responsibility for processing collateral for the discount window, payments systems risk and treasury tax and loan programs from the cash and custody staff within the Financial Services Group to the discount window staff in the Markets Group. The discount window staff will continue to have responsibility for the administration of overnight credit and the monitoring of overnight overdrafts.

This transfer of responsibility is intended to better serve Second District depository institutions by making the discount window a central point of contact for questions related to collateral management and discount window borrowing. The Markets Group management team responsible for the discount window is Susan McLaughlin, vice president, head of financial management and discount window, and William Walsh, assistant vice president and discount window officer.

Guidelines and deposit and withdrawal forms for specific collateral programs are available.

Beginning August 13, 2007, these forms should be mailed to:

The Federal Reserve Bank of New York
Discount Window Staff
Collateral Processing Team
33 Liberty Street, 9th Floor
New York, NY  10045

Faxes can be sent to the following number:  (212) 720-5686.

If you require additional information on the types of acceptable collateral or have questions related to this organizational change, please call the discount window staff at (866) 226-5619.