Acceptable Collateral for the Term Investment Option (TIO) Program

Effective: October 27, 2003 Last Updated: November 13, 2003

The list of acceptable collateral for the Term Investment Option (TIO) program is typically the same as the list of acceptable collateral for the Treasury Tax and Loan (TT&L) program, except that commercial and agricultural loans, and Special Direct Investment (SDI) collateral are generally not acceptable, unless otherwise specified in the TIO Auction Announcement (see bullet below). Acceptable Collateral for the Treasury Tax and Loan (TT&L) Program.

• For TIO auctions in which commercial loans held under an Off-Premises Collateral (OPC) arrangement are acceptable collateral, specific notice of their acceptability will be provided in the Term Investment Option Auction Announcement, which will refer to such collateral as "commercial loans in a Borrower-in-Custody (BIC) arrangement."

Any additions to or deletions from the list of acceptable collateral for a particular term investment will be specified in the Term Investment Option Auction Announcement. If there are any inconsistencies between the information contained here and the Term Investment Option Auction Announcement, the Term Investment Option Auction Announcement will govern.

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