Circular
Federal Reserve Announces New Schedule of Margins Applicable for Collateral Pledged by Depository Institutions
August 19, 2009
Circular No. 12131

The Federal Reserve has announced a new schedule of margins applicable for collateral pledged by depository institutions to secure discount window and Term Auction Facility loans and for payment system risk purposes.

The new margins are part of the Federal Reserve's continuing efforts to ensure effective risk-management policies and procedures in its lending programs to depository institutions. They reflect data and methodological improvements that better account for differences in various risk characteristics across collateral types.

See the press release for full details.

Press release offsite