Select Your FRB Payment System Risk Collateral Discount Rates Agreements Guidelines General Information
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Last Updated: 6/15/2009

Please note: This information is only for the Federal Reserve Bank of Boston's BIC Program.

Overview 

Forms
  • Electronic Pledge Authorization Form [MS Word; 39K]
    If your institution would like to email the pledge listing and cover letter to us each month, please complete this agreement.

  • Sample BIC Collateral Cover Letter [MS Word; 35K]
    This document must be submitted with loan trials.

  • BIC Trial Template [MS Excel; 33K]
    Institutions applying for a BIC arrangement can use this template as a guide in developing the pledged loan trial to be submitted to FRBB on a monthly basis.

  • BIC Request Letter Template [MS Word; 43K]
    An institution interested in establishing a BIC arrangement should complete this application and forward it to FRBB.

Program RequirementsForms

Borrower-in-Custody of Collateral Certification
BIC program participants are required to complete a Collateral Certification for each pledged loan type prior to enrollment in the BIC program.

The Collateral Certifications below are in Microsoft Word format.


Current Interest Rates
Primary Credit 0.75%
Secondary Credit 1.25%
Seasonal Credit 0.15%
Fed Funds Target 0 - 0.25%