Credit Risk Management

Discount Window

 

Discount Window

The Credit Risk Management (CRM) unit administers daylight and overnight credit to Fifth District depository institutions through our discount window, payment system risk, condition monitoring and collateral functions.

The discount window functions as a safety valve in relieving pressures in reserve markets; extensions of credit can help relieve liquidity strains in a depository institution and in the banking system as a whole. The discount window also helps ensure the basic stability of the payment system more generally by supplying liquidity during times of systemic stress.  To gain access to the discount window, depository institutions must have the agreements specified in operating circular 10 (OC-10) on file with the Reserve Bank and discount window loans must be secured by collateral acceptable to the lending Reserve Bank.  Our hours are from 8 a.m. EST until 30 minutes past the close of Fedwire each day.

Contact Us:

Toll free: 1-800-526-2036
Email: discountwindow@rich.frb.org

General Information

FRB Discount Window Web site 

Operating Circular 10 (Discount Window) 

Borrowing Agreements

  1. Letter of Agreement 
    The Letter of Agreement evidences an institution's acceptance of the terms and conditions in Operating Circular No. 10.
  2. Authorizing Resolutions for Borrowers 
    The Authorizing Resolutions for Borrowers evidences an institution's authorization to borrow from and pledge assets to a Reserve Bank.
  3. Official OC-10 Authorization List
    The Official OC-10 Authorization List is a list of individuals, including their titles, who are authorized to borrow and/or pledge/withdraw collateral as specified in the institution's Authorizing Resolutions for Borrowers.
  4. Letter of Agreement to Correspondent Credit and Payment Agreement 
    If your institution does not have a Federal Reserve account, please select a correspondent to receive discount window advances and make payments on your institution's behalf.
  5. Certificate 
    The Certificate will provide the Federal Reserve Bank all of the information needed to make an effective UCC-1 financing statement filing against the Borrower.  It is required for all depository institutions  pledging loans as collateral to the Reserve Bank.

Discount Rates

Current Discount Rates 

Historical Discount Rates 

Contact Us

Charlotte

Margaretta Blackwell
(704) 358-2112