Collateral Pledging

To borrow from the discount window, a depository institution must first execute Operating Circular 10 and pledge acceptable collateral. Guidelines and forms to help depository institutions establish discount window access can be found below.
Background
Operating Circular 10: Lending
Mechanics of Borrowing
Federal Reserve Collateral Guidelines
Official OC-10 Authorization List and Correspondent Agreement
Official OC-10 Authorization List for Borrowing and Pledging
1 page / 59 kb

Correspondent Credit and Payment Agreement
2 page / 41 kb
Collateral Reports Request Form
CMS Reports Request
1 page / 64 kb
Guidelines and Forms by custody arrangement
Custody* Guidelines and Forms 
National Book-Entry System (NBES) Accounts NBES Procedures
2 pages / 17
kb
Depository Trust Co. (DTC) Arrangements DTC Procedures
1 page / 17 kb
Euroclear Price Adjustments and Closings Form Pledging Securities Held Through Euroclear or Clearstream
5 page / 29 kb

Euroclear Price Adjustments and Closings Form
1 page / 110 kb
Borrower-in-Custody (BIC) BIC Guidelines and Forms


* The New York Fed will accommodate vault custody arrangements for collateral that is in tangible form and not able to be held in any other type of pledging or custody arrangement acceptable to the New York Fed only in very exceptional circumstances, such as unique constraints on the pledging institution or a significant lack of other available collateral on the part of the pledging institution. If your institution would like to pledge collateral in tangible form by delivery to the New York Fed's vault, you should contact the Discount Window hotline at 866-226-5619.