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Board of Governors of the Federal Reserve System
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Press Release

Federal Reserve Press Release

Release Date: August 19, 2009

For immediate release

The Federal Reserve on Wednesday 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.

Details on the changes, effective October 19, 2009, are available at

Last update: August 19, 2009