Large Bank Examination Workshop February 2026

Bank Term Funding Program • Collateral was valued at its par value  In contrast, collateral is valued at its fair market value for Discount Window primary credit  Par value is equivalent to the outstanding face amount of the collateral • No haircuts applied to eligible collateral. Primary credit applied the same margins used for the securities eligible for the Program, further increasing lendable value at the discount window • Term: Advances had terms of up to one year • Rate for term advances was the one-year overnight index swap rate plus 10 basis points 99

Source: https://fred.stlouisfed.org/series/H41RESPPALDKNWW

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