ACCEPTABLE COLLATERAL FOR 31 CFR PART 225

(Acceptance of Bonds Secured by Government Obligations

in Lieu of Bonds with Sureties)

Effective: March 26, 2018

Acceptable collateral is currently limited to only public debt obligations of the United 

States Government whose principal and interest are unconditionally guaranteed by the 

United States Government (excluding stripped components).

The following classes of transferable securities are acceptable as collateral to secure 

obligations in lieu of a surety bond or to secure deposits of bankrupt estates under the 

jurisdiction of the U.S. Executive Office of Trustees or a bankruptcy court or judge. Zerocoupon obligations included in these classes, such as stripped principal and interest 

components, are currently not acceptable.

Department of the Treasury – www.treasurydirect.gov

Bills 

Notes 

Bonds 

Inflation-Indexed Notes 

Inflation-Indexed Bonds 

Floating Rate Notes

Department of Housing and Urban Development – www.hud.gov

Federal Housing Administration (FHA) –

https://www.hud.gov/federal_housing_administration

Debentures 

Ginnie Mae (Government National Mortgage Association) – www.ginniemae.gov

All securities guaranteed under: 

GNMA I Mortgage-Backed Securities Program 

GNMA II Mortgage-Backed Securities Program 

GNMA Multiclass Program 

Platinum Securities

REMICs 

Callable Class Securities 

Public Housing Agency 

Public Housing Agency Bonds 

(Issued under Section 11 of U.S. Housing Act of 1937 for Public Housing 

Program) 

Section 108 Guaranteed Loan Program –

https://www.hud.gov/hudprograms/section108

Section 108 Government Guaranteed Notes 

Section 108 Government Guaranteed Participation Certificates 

Department of Veterans Affairs – www.va.gov

VA-Backed Mortgages 

Collateralized Mortgage Obligations (CMO) 

Real Estate Mortgage Investment Conduits (REMIC) 
2

Small Business Administration (SBA) – www.sba.gov

Development Company Loan Program under Title V of the Small Business 

Investment Act of 1958, as amended: 

Development Company Participation Certificates 

Small Business Investment Company (SBIC) Program under Title III of the Small 

Business Investment Act:

SBIC Debenture Trust Certificates 

SBIC Participating Security Trust Certificates 

Loans Made by Lenders under Section 7(a) of the Small Business Act of 1953, as 

amended. Must represent interests in the guaranteed portions of Section 7(a) SBA 

guaranteed loans: 

Guaranteed Interest Certificates

Guaranteed Loan Pool Certificates

Secondary Market Guarantee Program for 504 First Mortgage Loan Pools 

under Section 503 of the American Recovery and Reinvestment Act of 2009

First Mortgage Loan Pool Certificates

NOTES:

TRANSFERABILITY:

All pledged collateral must be transferable and owned by the depositary free and clear 

of all liens, charges, and claims.

VALUATION:

Acceptable securities must be investment grade or rated equal to investment grade. If not 

investment grade, securities may be acceptable but subject to an additional haircut 

depending on the credit worthiness of the security as determined by the Federal Reserve 

System and approved by Treasury.

For current applied margins, please refer to the TreasuryDirect website 

(www.treasurydirect.gov).

FEDWIRE CODES:

This list is organized by categories of issuers and acceptable securities for the 31 CFR 

Part 225 program. For a complete listing of all related Fedwire codes, see the Federal 

Reserve’s “Fedwire Securities Service Guide.” 

Information and guidance contained in this listing are subject to change. All 

modifications or updates will be distributed periodically and posted to the 

TreasuryDirect website (www.treasurydirect.gov) or contact the Federal Reserve’s 

Treasury Support Center at 1-888-568-7343 (Select Option 2 for Collateral 

Monitoring).