FEDERAL RESERVE BANK OF NEW YORK DTC PROCEDURES
FEDERAL RESERVE BANK OF NEW YORK DTC PROCEDURES
A Depository Trust Company (DTC) Pledge Arrangement may be available for your institution if it wishes to pledge securities that it holds through DTC to the Federal Reserve Bank of New York ("FRBNY"). Prior to pledging any DTC-held securities to FRBNY for the first time, your institution must contact FRBNY to confirm that you have the appropriate OC10 documentation in place. Please contact the Discount Window (866-226-5619) for further information about the arrangement. You can also refer to the Federal Reserve Collateral Guidelines at the link below for additional information on the DTC pledge process. To pledge any DTC-held securities to FRBNY, your institution must:
Instruct DTC to transfer the securities to FRBNY's pledged account at DTC. If your institution is not a direct participant at DTC, your institution should direct its DTC correspondent to transfer the securities to FRBNY's pledged account at DTC. Pledges of eligible securities will be processed by the FRBNY's collateral management system. Any ineligible securities that your institution attempts to pledge will be rejected by the FRBNY.
To withdraw any DTC-held securities from the FRBNY's pledged account at DTC, your institution must:
Submit a withdrawal transfer request to DTC or to your institution's correspondent if your institution is not a direct DTC participant. DTC will finalize the transfer after FRBNY approves its release.
FRBNY will accept deposit and withdrawal requests made through DTC from 8:00 a.m. until 5:00 p.m. ET. Requests for deposits and withdrawals received outside of the designated processing times will be rejected.
Revised May 2011
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