Updated Collateral Margins Table and New ALD Collateral Requirements Implementation Period Announcement

June 01, 2021

The Federal Reserve is implementing updated collateral margins for Discount Window lending and Payment System Risk purposes, effective July 1, 2021.  The updated Collateral Margins Table can be viewed on the Discount Window Margins and Collateral Guidelines page of the Discount Window and Payment System Risk website.  Please review the 2021 Collateral Bulletin, as well as the related FAQs, for more information about the changes.

The transition to the new ALD collateral requirements affecting select institutions will be implemented in the first half of 2022.  Upon implementation, the Collateral Margins Table will be updated to reflect new margins for all institutions and the dual file submission requirement will cease for “in-scope” institutions. The Federal Reserve will announce the specific details on the implementation no later than 3 months ahead of the effective date.

Additional information will be published in advance of the program implementation. For reference, the submission requirements for “in-scope” institutions can be found on the New ALD Collateral Requirements page of the Discount Window and Payment System Risk website. Contact your local Reserve Bank with any inquiries.