Discount Window & Payment System Risk Information for Boston
FRB Boston Borrower-in-Custody (BIC) Program
Last Updated: 09.08.2026
Please note:
This information is only for the Federal Reserve Bank of Boston's (FRBB) BIC Program.
BIC Program Overview
The comprehensive set of BIC Program Requirements, which includes required forms and supporting documentation, can be found on the Pledging Loans page. Information specific to First District BIC participant collateral schedule submissions can be found below. Please contact the FRBB Discount Window with any questions.
Collateral Schedule Submissions
The Pledging Loans page contains details on data reporting templates/requirements, submission timelines and collateral valuation. Institutions classified as “out-of-scope” (as defined within the website linked above) are expected to use the First District’s collateral schedule template to report pledged loan data.
For collateral schedule submissions that are emailed to the Reserve Bank, BIC Program participants must also submit a BIC Collateral Cover Letter, which must be signed by the appropriate number of OC-10 authorized individuals. Please note that BIC Program participants that submit collateral schedules via Discount Window Direct do not need to submit a BIC Collateral Cover Letter.