The collateral margins table shows margins for “individually deposited” and “group deposited” loans. What is the difference between “individually deposited” and “group deposited” loans?
These terms refer to the way the Federal Reserve Banks maintain information about pledged loans in their Collateral Management System (CMS). Loans that are recorded individually into CMS are considered “individually deposited.” Loans are individually deposited if they are pledged through the Automated Loan Deposit process. Loans held in the custody of a Federal Reserve Bank and pledges of small pools of loans may also be entered into CMS individually. All other loan pledges are recorded into CMS as groups and are thus considered “group deposited.” The collateral value of individually deposited loans will always be greater than or equal to that of comparable group deposited loans. The Federal Reserve is modifying the Automated Loan Deposit process to facilitate wider adoption; further information about these changes will be announced at a later date.
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