Loan Programs

Types of Credit

The Federal Reserve administers three major loan programs through its Discount Window. Program eligibility is primarily determined by an institution's financial condition. Further information is available on the Federal Reserve’s Discount Window website.

Credit Extensions

The Federal Reserve Bank extends credit in the form of an advance, payable on demand, and secured by acceptable collateral. An institution that expects to borrow must have on file with their Reserve Bank the necessary authorizing resolutions and agreements, as described in our Operating Circular 10: Lending. A request for an advance may be made by an authorized employee of the institution, as noted by title in the borrowing resolutions, one or two may be designated, and identified on an OC-10 Authorization List. Requesting an advance takes the form of a simple phone call. When a Discount Window representative answers, please be prepared to supply the following information: