The bill requires the Federal Reserve Board to review discount window operations, which provide loans to financial institutions. The review must assess liquidity access, technology, cybersecurity, coordination with other agencies and liquidity providers, operating hours, rapid deposit withdrawals, and barriers to using the discount window. The Board must identify problems and improvements, create a plan with actions and timelines, and report its findings and plan to Congress. The Board and its Inspector General must also provide annual updates. The review must begin within 60 days, finish within 240 days, and be reported to Congress within 365 days of enactment. These requirements end after the Board says the remediation plan is fully implemented and publishes that notice.
The bill does not create a direct service or benefit for individuals. It would require the Federal Reserve to examine and report on how the discount window works and how it could be improved.
The bill does not specify an amount of funding or costs.
No publicly available information.
No publicly available information.