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Foreign Banking Corporation: Asset Pledge List

Assets Eligible for Pledging pursuant to Section 202-b of the New York State Banking Law and Part 322 of the Superintendent's Regulations and subject to the limitations and restrictions contained therein.

Specified Assets:

% of Market Price allowed

Specified Assets permitted by statute pursuant to Section 202-b(1) of the Banking Law - For ALL Institutions

Duration Buckets

0 to 5

>5 to 10

>10

Interest-bearing stocks and bonds, notes, debentures, or other obligations of the United States or any agency or instrumentality thereof, or guaranteed by the United States, except as noted below

98%

97%

93%

Zero Coupons or STRIPs of the US Government or Agencies thereof

98%

95%

90%

Obligations of New York State, or of a city, county, town, village, school district, or instrumentality of New York State or guaranteed by New York State, rated Investment Grade

97%

95%

92%

Obligations of New York State, or of a city, county, town, village, school district, or instrumentality of New York State or guaranteed by New York State, Not Rated

75%

75%

75%

Dollar deposits, or obligations of the International Bank for Reconstruction and Development

97%

95%

93%

Obligations issued by the Inter-American Development Bank, the Asian Development Bank, the African Development Bank or the International Finance Corporation, rated investment grade

97%

95%

93%

Zero Coupons or STRIPs (not including mortgage-backed interest only STRIPS) of International Agencies named above

94%

92%

86%

Bonds, notes, debentures, or other obligations issued by or guaranteed by the Federal Home Loan Mortgage Corporation (Freddie Mac) and by the Federal National Mortgage Corporation (Fannie Mae)

97%

96%

92%

Bonds, notes, debentures or other obligations issued by or guaranteed by the Student Loan Marketing Association (SALLIE MAE)

97%

96%

92%

Zero Coupons or STRIPs of Government Sponsored Enterprises named above

96%

94%

89%

Bonds, notes, debentures or other obligations issued by or guaranteed by a federal home loan bank

97%

96%

92%

Other obligations of any unaffiliated issuer only as specifically permitted in the lists of "Additional Assets" below in aggregate amounts of up to ½ of the required pledge

 

Permitted Assets: Permitted by regulation pursuant to Part 322.2(a)(2) of the Superintendent's Regulations.

Commercial paper payable in the United States accorded the highest rating of a rating service

95%

Negotiable certificates of deposit payable in the United States and issued by an unaffiliated domestic banking institution or a domestic office of an unaffiliated foreign banking corporation from a country other than the home country of the pledging institution.

95%

Bankers' acceptances that are payable in the United States and issued by an unaffiliated domestic banking institution or a domestic office of an unaffiliated foreign banking corporation

95%

 

Additional Assets: Pursuant to Parts 322.2(a)(3) and (b)(3) - For All Foreign Banking Corporations 

Note: The aggregate total of Additional Assets is limited to ½ of the required pledge. 

Other International Agencies Bills, Notes, Bonds rated AAA

97%

95%

93%

Other International Agencies Zero Coupons, STRIPs rated AAA

94%

92%

86%

Brady Bonds (to the extent backed by US Treasury obligations)

95%

92%

88%

Obligations of Foreign Governments rated AAA

97%

95%

90%

Other Municipal Bonds, including Industrial Revenue Bonds rated AAA

97%

95%

92%

Corporate Bonds rated AAA

97%

95%

93%

Asset-Backed Securities rated AAA (including Collateralized Loan and Bond Obligations)

98%

95%

83%

Commercial Mortgage-Backed Securities rated AAA

97%

93%

92%

Mortgage-Backed Securities rated AAA not otherwise permitted by statute (not including interest only STRIPS)

98%

96%

93%

Collateralized Mortgage Obligations rated AAA (not including private label CMOs)

97%

95%

90%

Trust Preferred Securities rated AAA

93%

92%

90%

 

Other International Agencies Bills, Notes, Bonds rated Investment Grade

96%

94%

92%

Other International Agencies Zero Coupons, STRIPs rated Investment Grade

93%

91%

85%

Obligations of Foreign Governments rated Investment Grade

96%

94%

89%

Other Municipal Bonds including Industrial Revenue Bonds rated Investment Grade

96%

94%

91%

Corporate Bonds rated Investment Grade

95%

93%

92%

Asset-Backed Securities rated Investment Grade (not including Collateralized Loan and Bond Obligations)

89%

86%

82%

Trust Preferred Securities rated Investment Grade

92%

91%

89%

Commercial paper payable in the United States rated Investment Grade

95%

Notes

1. In ALL cases assets eligible for pledge MUST be repayable in US dollars, pursuant to Part 322.2(b)(1). 

2. Pledged assets will be valued at the LOWER of (i) principal amount or (ii) fair (market) value subject to the haircuts outlined in this List, pursuant to Parts 322.1 and 322.2(b)(6).

3. To be eligible as "Additional Assets," securities MUST have a readily available market price. 

4. Any reference made to a securities or commercial paper rating means that the asset has been accorded the applicable rating of a rating service designated by the Banking Board pursuant to Part 61.1 of the Superintendent's Regulations. In the event that an asset is rated by more than one designated service, it must have received the applicable grade rating from each.

Rev: 08/16/13