Collateral eligible for pledge under the Facility was required to meet the following criteria:-

http://en.wikipedia.org/wiki/Federal_Reserve_System#cite_note-91

• was purchased by Borrower on or after September 19, 2008 from a registered investment company that held itself out as a money market mutual fund;
• 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;
• was rated at the time pledged to FRBB, not lower than A1, F1, or P1 by at least two major rating agencies or, if rated by only one major rating agency, the ABCP must have been rated within the top rating category by that agency;