OPENING THE RECORD
OPENING THE RECORD
H.R. 3390 · 119TH CONGRESS
This has not become law. Both chambers must pass the same text before sending it to the president. How a bill becomes law.
CONGRESSIONAL RESEARCH SERVICE
Bringing the Discount Window into the 21st Century Act
This bill requires the Board of Governors of the Federal Reserve System to review and develop a remediation plan for its discount window lending program, which provides loans to depository institutions to support an institution’s security and liquidity.
The review must consider topics such as the sufficiency of the technology infrastructure, the effectiveness of the existing operating hours of the discount window, and how the discount window interacts with other liquidity providers during normal operations and in times of financial distress.
The remediation plan must address any identified deficiencies, establish timelines and milestones for implementation, and be approved by the board.
The bill requires annual reports to Congress regarding the plan.
Written by the Congressional Research Service for this version of the bill. Later versions may differ. Read at Congress.gov.