US HB3390

Federal Reserve Board of Governors must begin reviewing discount window lending programs within 60 days of enactment and complete the review within 240 days

Review must evaluate technology infrastructure, cybersecurity, operating hours, coordination with other liquidity providers like Federal Home Loan Banks, and stigma associated with discount window usage

Board must develop a written remediation plan identifying deficiencies and enhancements, with timelines and milestones for implementation

Report containing review findings and remediation plan due to Congress within 365 days, with Fed Chair testimony required at semiannual hearings

Annual reports required from both the Board of Governors and the Fed Inspector General on implementation progress until the remediation plan is fully implemented