Collateral Management System (CMS)

A Collateral Management System is an application operated by the Federal Reserve Bank (FRB) that maintains a record of and values collateral pledged in Fedwire book-entry, non-Fedwire book-entry, or in definitive (physical) form for all the Department of the Treasury collateral programs administered by the FRBs. FRBs process collateral transactions maintained and valued on this system.