A bill to amend the Federal Reserve Act to establish standards for discounts to individuals, partnerships, corporations, and State and local governments.
Discount Window Standards Act - Amends the Federal Reserve Act to revise Federal Reserve bank discount window standards. Provides that, where denial would cause severe damage to the economy or severe unemployment, discounts of 90 days obligations (direct loans) shall be advanced to individuals, partnerships, and corporations. Makes such discounts (direct loans) available to State and local governments solely to assist them to provide basic services to their citizens.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Finance and Urban Affairs.
Referred to Subcommittee on Domestic Monetary Policy.
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