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Required Agreements

Last Updated: 10/15/2006

If your institution would like to establish access to the Federal Reserve Discount Window, please complete the Operating Circular No. 10 [PDF; 249K]offsite link agreements listed below.1,2

  1. Letter of Agreement


  2. Authorizing Resolutions for Borrowers


  3. Official OC-10 Authorization List


  4. Letter of Agreement to Correspondent Credit and Payment Agreement (may be required, see note below)


  5. Certificate (may not be required, contact your Reserve Bank for more info)



Please submit completed agreements to your Federal Reserve Bank.


1. Letter of Agreement [MS Word; 23K]
The Letter of Agreement evidences an institution's acceptance of the terms and conditions in Operating Circular No. 10


2. Authorizing Resolutions for Borrowers [MS Word; 31K]
The Authorizing Resolutions for Borrowers evidences an institution's authorization to borrow from and pledge assets to a Reserve Bank.

 

Please Note: If your institution was chartered by the State of Wisconsin, please complete the Authorizing Resolutions for Borrowers Chartered by the State of Wisconsin [MS Word; 32K] instead.

3. Official OC-10 Authorization List
The Official OC-10 Authorization List is a list of individuals, including their titles, who are authorized to borrow and/or pledge/withdraw collateral as specified in the institution's Authorizing Resolutions for Borrowers.


4. Letter of Agreement to Correspondent Credit and Payment Agreement [MS Word; 38K]
If your institution does not have a Federal Reserve account, please select a correspondent to receive Discount Window advances and make payments on your institution's behalf.


5. Certificate [MS Word; 24K]
The Certificate will provide the Federal Reserve Bank all of the information needed to make an effective UCC-1 financing statement filing against the Borrower. Note: This document may not be required, contact your Reserve Bank for more info.


Footnotes:
  1. Please note: all Discount Window loans must be fully secured. Please see the Federal Reserve System Guide to Discount Window Collateral for information on collateral.
  2. If your depository institution is a U.S. branch or agency of a foreign bank, please contact your Reserve Bank for additional discount window documentation requirements.

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