Resources and Information

Lending Programs
Information on the Discount Window primary, secondary and seasonal lending programs, including eligibility and other terms.

Official OC-10 Documents
Forms required to establish and maintain access to the Discount Window.

• It is recommended to hold off on executing signatures until Discount Window staff review draft submissions as revisions may be needed. You may email drafts to discount.collateral@ny.frb.org.
• OC-10 agreements are generally acceptable with either ‘wet ink’ signatures or digital signatures applied using a digital signature tool.

Pledging Securities
Information on pledging eligible securities collateral through a variety of platforms, including Fedwire® Securities Service, Depository Trust Company, Clearstream, and Euroclear.  For more details on pledging via Clearstream or Euroclear, including submission of the Euroclear Closing/Price Adjustments form, please see Federal Reserve Bank of New York Foreign Custodian Arrangement Collateral Pledging Guidelines.

Pledging Loans
Information on pledging whole loan collateral via the Borrower-in-Custody (BIC) program. Please submit BIC Application, Certification and Modification forms to discount.collateral@ny.frb.org.

• Loan Pledge Cover Letter
  All loan pledge files submitted to the Discount Window via email (FRSecure or TLS) to BIC@ny.frb.org or posted to Intralinks must be accompanied by a cover letter certified by the required number of authorized pledgors (either one or two) per your institution’s OC-10 Authorizing Resolutions for Borrowers. Please refer to the cover letter for certification instructions and contact the Discount Window staff at discount.collateral@ny.frb.org with any issues or questions.

Collateral Reports Request Form
Form required to subscribe to the Statement of Collateral Holdings and other collateral reports. Please submit completed forms to discount.collateral@ny.frb.org. Note: You can access Discount Window collateral reports also by subscribing to the Account Management Information system.

Discount Window Direct (DWD)
DWD is a self-service application that enables users to conduct Discount Window activities in a new, modernized, and convenient way, including requesting primary credit loans and submitting loan collateral files online. Once users obtain DWD access, your institution's OC-10 borrowing and pledging designations are automatically applied in the application (e.g., individual users authorized to borrow and/or pledge collateral, required number of authorizers).  Additionally, loan pledge cover letters are not required when loan collateral files are submitted via DWD. Enroll today!

Current and Historical Discount Rates