Summary
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.
Related bills
Related
Bill text versions
- IntroducedIntroduced in HousePDF
- IntroducedIntroduced in HouseXML
- IntroducedIntroduced in HouseHTML
- ReportedReported in HousePDF
- ReportedReported in HouseXML
- ReportedReported in HouseHTML
- EngrossedEngrossed in HousePDF
- EngrossedEngrossed in HouseXML
- EngrossedEngrossed in HouseHTML
- ReceivedReferred in SenatePDF
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- ReceivedReferred in SenateHTML
Legislative Journey
- Introduced
- Committee
- Floor
- Passed Chamber 1
- Passed Chamber 2
- Signed
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
SenateMotion to reconsider laid on the table Agreed to without objection.
HouseOn motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
HousePassed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
DEBATE - The House proceeded with forty minutes of debate on H.R. 3390.
HouseConsidered under suspension of the rules. (consideration: CR H2076-2078; text: CR H2076-2077)
HouseMr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
HousePlaced on the Union Calendar, Calendar No. 191.
HouseReported (Amended) by the Committee on Financial Services. H. Rept. 119-234.
HouseReported (Amended) by the Committee on Financial Services. H. Rept. 119-234.
Ordered to be Reported (Amended) by the Yeas and Nays: 48 - 1.
HouseCommittee Consideration and Mark-up Session Held
HouseCommittee Consideration and Mark-up Session Held
HouseReferred to the House Committee on Financial Services.
HouseIntroduced in House
Introduced in House