Updated Collateral Margins Tables

September 29, 2023

The Federal Reserve is implementing updated collateral margins for Discount Window lending and Payment System Risk purposes, effective November 1, 2023.  The updated collateral margins tables can be viewed on the Collateral Valuation page of the Discount Window and Payment System Risk website. Please review the related FAQs for more information about the changes.

Note: Discount window margins for U.S. Treasuries, agency debt and mortgage-backed securities, and other fully government-guaranteed assets, which were increased in March 2023 to correspond with those applicable to the Bank Term Funding Program, will be reset in conjunction with the Reserve Banks’ annual recalculation of margins for all collateral types.

Contact your local Reserve Bank with any inquiries.