[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-seo-276284-105":3,"detail-sidebar-cat-1-en-105":81,"doc-detail-276284-en":126},{"code":4,"msg":5,"data":6},0,"ok",{"site_id":7,"language":8,"slug":9,"title":10,"keywords":11,"description":12,"schema_data":13,"social_meta":74,"head_meta":76,"extra_data":78,"updated_unix":80},105,"en","letter-of-agreement-abcp-mmmf-liquidity-facility","Letter of Agreement - ABCP MMMF Liquidity Facility","","Letter of agreement outlining borrower terms for requesting Advances on a non-recourse basis under the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF). Establishes that pledged U.S. dollar denominated ABCP must meet specific acquisition, rating, eligibility, maturity, and redemption-outflow requirements. Defines how advances are calculated, priced, and delivered, including interest rate and timing. States consequences of non-conforming collateral, limits on prepayment and new credit extensions, and procedures for safekeeping and correspondent arrangements.",{"@graph":14,"@context":73},[15,34,56],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/template/","Template",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/template/letters/","Letters",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/template/letter-of-agreement-abcp-mmmf-liquidity-facility/276284/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/letter-of-agreement-abcp-mmmf-liquidity-facility/276284.png","ImageObject",442,249,{"name":42,"@type":43},"Oliver","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-11-02","2026-09-15",true,{"@type":52,"interactionType":53,"userInteractionCount":55},"InteractionCounter",{"@type":54},"ViewAction",15,{"@type":57,"mainEntity":58},"FAQPage",[59,65,69],{"name":60,"@type":61,"acceptedAnswer":62},"What facility and circular govern the advances under this agreement?","Question",{"text":63,"@type":64},"The agreement is for advances under the AMLF. It incorporates Operating Circular No. 10 (and any amendments) and governs any conflict by stating the Letter of Agreement controls for advances made under the AMLF.","Answer",{"name":66,"@type":61,"acceptedAnswer":67},"What are the key requirements for ABCP pledged as collateral?",{"text":68,"@type":64},"The borrower must pledge U.S. dollar denominated ABCP that was acquired under specified conditions, meets rating and eligibility criteria, has limits on stated maturity, and is supported by certification regarding fund redemption outflows.",{"name":70,"@type":61,"acceptedAnswer":71},"What happens if the pledged ABCP does not meet the requirements?",{"text":72,"@type":64},"Failure to satisfy requirements may void non-recourse treatment, making FRBB’s rights full recourse for the portion tied to non-conforming ABCP and potentially disqualifying the borrower from participating in the AMLF.","https://schema.org",{"og:url":32,"og:type":75,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":77,"canonical":32},"index,follow",{"doc_id":79,"site_id":7},276284,1790243465,{"code":4,"msg":82,"data":83},"success",[84,89,94,99,103,108,113,117,122],{"id":85,"doc_module":22,"doc_module_name":25,"category_name":86,"show_sort_weight":87,"slug":88},11,"Presentations",90,"presentations",{"id":90,"doc_module":22,"doc_module_name":25,"category_name":91,"show_sort_weight":92,"slug":93},12,"Resumes",80,"resumes",{"id":95,"doc_module":22,"doc_module_name":25,"category_name":96,"show_sort_weight":97,"slug":98},14,"Invoices",70,"invoices",{"id":55,"doc_module":22,"doc_module_name":25,"category_name":100,"show_sort_weight":101,"slug":102},"Posters",60,"posters",{"id":104,"doc_module":22,"doc_module_name":25,"category_name":105,"show_sort_weight":106,"slug":107},16,"Social Media",50,"social-media",{"id":109,"doc_module":22,"doc_module_name":25,"category_name":110,"show_sort_weight":111,"slug":112},17,"Forms",40,"forms",{"id":114,"doc_module":22,"doc_module_name":25,"category_name":29,"show_sort_weight":115,"slug":116},18,30,"letters",{"id":118,"doc_module":22,"doc_module_name":25,"category_name":119,"show_sort_weight":120,"slug":121},21,"Paper Templates",5,"papers-templates",{"id":123,"doc_module":22,"doc_module_name":25,"category_name":124,"show_sort_weight":4,"slug":125},158,"General","general-158",{"code":4,"msg":82,"data":127},{"doc_id":79,"user_id":128,"nickname":42,"user_avatar":129,"doc_module":22,"category_id":114,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":55,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":120,"language":135,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":136,"faqs":137,"seo_title":138,"seo_description":12,"update_tm":139,"read_time":26},8796095461610,"https://ap-avatar.wpscdn.com/davatar_276721f389ce27ea32af1340a28f341c","FORM OF LETTER OF AGREEMENT  \n[Letterhead of Borrower]  \nDate:    \nMs. Wendy Karlon  \nSupervision, Regulation, and Credit Federal Reserve Bank of Boston  \n600 Atlantic Avenue Boston, MA 02210  \nSubject: ABCP MMMF Liquidity Facility  \nDear Ms. Karlon:  \nIn consideration of being able to request Advances from you on a Non-Recourse Basis, as described in Attachment 1 to this letter (such Attachment 1 and this letter, together “Letter of Agreement”), and to incur Indebtedness to you pursuant to the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (the “AMLF”) authorized by the Board of Governors ofthe Federal Reserve System (“Board”) on September 19, 2008 under sections 13(3) and 10B of the Federal Reserve Act, we agree to the provisions of your Operating Circular No. 10, effective October 15, 2006, as may be amended (“Circular”) and to the terms and conditions of this Letter of Agreement. To the extent any provision of the Circular is inconsistent with the terms of this Letter of Agreement hereto, the terms of this Letter of Agreement shall govern all Advances made under the AMLF. All capitalized terms used in this Letter of Agreement but not defined herein shall have the meaning specified in the Circular.  \nUnder the AMLF we agree to secure the Advances by pledging items of U.S. dollar denominated asset-backed commercial paper (“ABCP”) . Borrower represents and warrants that each such Item pledged:  \n1. was purchased by Borrower on or after September 19, 2008 from a registered investment company that holds itself out as a money market mutual fund (a “Fund”) under SEC Rule 2a-7 issued under the Investment Company Act of 1940 (“Rule 2a-7”)(all as certified by the Fund to Borrower);  \n2. was purchased by Borrower at the Fund’s acquisition cost as adjusted for amortization of premium or accretion of discount on the ABCP through the date of its purchase by Borrower (all as certified by the Fund to Borrower);  \n[3. is](3. is) rated at the time pledged to FRBB, not lower than A1, F1, or P1 nor identified as on “negative watch” by any major rating agency;  \n4. was issued by an entity organized under the laws of the United States or a political subdivision thereof under a program that was in existence and actively issuing eligible ABCP directly to market investors on September 18, 2008;  \n5. has a stated maturity that does not exceed 270 days (if pledged by a bank holding company) or 120 days (if pledged by a depository institution);  \n6. was purchased by Borrower from a Fund that has experienced either a) single day net redemptions that exceeded 5 percent or more of the Fund’s net assets on any day during the 5-business day period prior to the Request for the Advance, or b) multiple day net redemptions over a consecutive period of 5-business days or less (the Redemption Period) that exceeded 10 percent or more of the Fund’s net assets (The request for Advance must occur within 5-business days of the end of the Redemption Period) . Borrower shall provide to FRBB appropriate certification by the Fund’s Transfer Agent confirming such net outflowsas set forth in the published terms and conditions which supplement this Letter of Agreement.  \nEach Advance shall comprise the monies advanced on a single day with respect to specific issue(s) of ABCP maturing on the same date. Each Advance shall be in a principal amount equal to the Amortized Cost of all Items pledged to secure that Advance, as these terms are defined in Attachment 1. Multiple Advances may be made on the same day with respect to the ABCP with different maturity dates and different times of delivery to the FRBB. The rate of interest for each Advance shall be the rate for discounts and advances under the Primary Credit Program atthe time of the Advance and that rate shall be fixed for that Advance until the maturity of the Advance.  \nFailure to meet any of the foregoing requirements may, at the discretion of the Federal Reserve Bank of Boston (“FRBB”), void","cbCaibNWepnN6gUy","https://ap.wps.com/l/cbCaibNWepnN6gUy","pdf",31630,"English","# Provisions of the Letter of Agreement\n## Parties and subject matter\n## Eligibility and representations for pledged ABCP\n## Structure, amount, and interest of each Advance\n## Consequences of non-conforming collateral\n## Prepayment limits and AMLF timing restrictions\n## Procedures, safekeeping conditions, and correspondent arrangements\n## Agent/correspondent instruction fields","[{\"question\":\"What facility and circular govern the advances under this agreement?\",\"answer\":\"The agreement is for advances under the AMLF. It incorporates Operating Circular No. 10 (and any amendments) and governs any conflict by stating the Letter of Agreement controls for advances made under the AMLF.\"},{\"question\":\"What are the key requirements for ABCP pledged as collateral?\",\"answer\":\"The borrower must pledge U.S. dollar denominated ABCP that was acquired under specified conditions, meets rating and eligibility criteria, has limits on stated maturity, and is supported by certification regarding fund redemption outflows.\"},{\"question\":\"What happens if the pledged ABCP does not meet the requirements?\",\"answer\":\"Failure to satisfy requirements may void non-recourse treatment, making FRBB’s rights full recourse for the portion tied to non-conforming ABCP and potentially disqualifying the borrower from participating in the AMLF.\"}]","Letter of Agreement - ABCP MMMF Liquidity Facility | PDF",1789492384]