Legislation Pertaining to the Collection of Deposits
The following laws permit the use of FHLBNY MULOCs as collateral to secure state and local government (municipal) deposits:
- New York Laws
(Deposit type: City, Municipal, State, Court, BDD, NYSCDP)
- New Jersey Laws
(Deposit type: City, Municipal, State, Court)
Note: Other states may allow FHLBNY MULOCs to be used as collateral for public unit deposits. Please check the law in those states.
