Collateral Pledging
To borrow from the discount window, a depository institution must first execute Operating Circular 10 and pledge acceptable collateral. Guidelines and forms to help depository institutions establish discount window access can be found below.
Operating Circular 10: Lending offsite
Mechanics of Borrowing offsite
Federal Reserve Collateral Guidelines pdf offsite
Official OC-10 Authorization List and Correspondent Agreement
Official OC-10 Authorization List for Borrowing and Pledging WORD
1 page / 59 kb

Correspondent Credit and Payment Agreement WORD
2 page / 41 kb
Collateral Reports Request Form
CMS Reports Request pdf
1 page / 64 kb
Guidelines and Forms by custody arrangement

Guidelines and Forms
National Book-Entry System (NBES) Accounts
NBES Procedures PDF
2 pages / 17 kb
Depository Trust Co. (DTC) Arrangements
DTC Procedures PDF
1 page / 17 kb
Euroclear or Clearstream
Borrower-in-Custody (BIC)

* The New York Fed will accommodate vault custody arrangements for collateral that is in tangible form and not able to be held in any other type of pledging or custody arrangement acceptable to the New York Fed only in very exceptional circumstances, such as unique constraints on the pledging institution or a significant lack of other available collateral on the part of the pledging institution. If your institution would like to pledge collateral in tangible form by delivery to the New York Fed's vault, you should contact the Discount Window hotline at 866-226-5619.