H.R. 3390 · Passed House · Finance and Financial Sector

Bringing the Discount Window into the 21st Century Act

Sponsor: Monica De La Cruz (R-TX)

What it does

• Requires the Federal Reserve Board to review and develop a remediation plan for the discount window lending program.
• Directs the review to evaluate technology infrastructure sufficiency, operating hours effectiveness, and interactions with other liquidity providers during normal and stress conditions.
• Requires the remediation plan to address deficiencies, establish implementation timelines and milestones, and obtain board approval.
• Mandates annual reports to Congress on the progress and status of the remediation plan.

Official 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.

Latest action

Feb 11, 2026: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Committee: Senate Banking, Housing, and Urban Affairs