S. 4799, known as the "Discount Window Enhancement Act of 2024," proposes amendments to the Federal Reserve Act to require depository institutions in the United States to demonstrate their ability to access the discount window. The bill sets specific testing requirements based on the size of...
Simple Explanation
The "Discount Window Enhancement Act of 2024" wants banks to practice using a special money window at the Federal Reserve, like a safety test, to make sure they can get money if needed. This bill sets rules for how often banks must practice based on their size and asks for some tech upgrades to make it all work smoothly.