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Advance Rates

The Advance Rates for Eligible Securities are as follows: 

Type of Security

Advance Rate

Equity Securities

50%

Mutual Funds (unless more than 5% of the fund is held by one entity, then the Advance Rate shall be adjusted downward) or Exchange Traded Funds not described below

50%

Investment-grade Municipal or Corporate Bonds (BBB or better by a credible rating agency as determined by Bank)

80%

Mutual Funds or Exchange Traded Funds (consisting predominantly of investment-grade fixed-income securities)

80%

Treasury Bonds, Treasury Bills and Treasury Notes

90%

Mutual Funds or Exchange Traded Funds (consisting predominantly of treasury bonds, treasury bills and treasury notes)

90%

Money Market Mutual Funds

100%*


*The Advance Rate for an all cash portfolio is 95%.

Note: The foregoing percentages are maximum percentages. Securities in a pledged account (which may include cash) must meet collateral eligibility requirements including portfolio composition and concentration. The foregoing percentages remain subject to change, in the Bank’s sole and absolute discretion, at any time.