Federal Reserve Bank of New York March 2008 1 Discount Window includes primary, secondary and seasonal credit programs. 2 The PDCF will remain in operation for a minimum period of six months and may be extended as conditions warrant. 3 Investment grade debt securities include corporate securities, municipal securities, mortgage-backed securities and asset-backed securities. 4 Open market operations are authorized for terms of up to 65 business days. Discount Window 1 Securities Lending Depository institutions Primary credit-eligible depository institutions Primary credit-eligible depository institutions Primary dealers Primary dealers Forms of Federal Reserve Lending to Financial Institutions Full range of Discount Window collateral U.S. Treasuries No (loans are bond-for-bond) No (loans are bond-for-bond) Yes Yes Yes Yes Yes No N/A No All All FRBNY FRBNY As requested As requested Every other week Daily Weekly Funds Funds Funds U.S. Treasuries U.S. Treasuries Typically overnight, but up to
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