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.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held
Committee Consideration and Mark-up Session Held
Ordered to be Reported (Amended) by the Yeas and Nays: 48 - 1.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-234.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-234.
Placed on the Union Calendar, Calendar No. 191.
Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H2076-2078; text: CR H2076-2077)
DEBATE - The House proceeded with forty minutes of debate on H.R. 3390.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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