Bills · HR 3390
PASSED HOUSE· 119TH CONGRESS
House BillHR 3390Credit and credit marketsGovernment studies and investigations
Bringing the Discount Window into the 21st Century Act
INTRO MAY 14· LAST ACTION FEB 11
READING
5MIN
COSPONSORS
2
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- One chamber only
LEGISLATIVE PROGRESS
STEP 4 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill matters because the discount window is a critical tool the Federal Reserve uses to keep the financial system stable. When banks face sudden shortages of cash, they can borrow from the Fed through the discount window to meet their obligations. If this system is outdated, slow, or difficult to use, it could worsen a financial crisis, making it harder for banks to provide loans and services to everyday people and businesses.
By requiring a review and modernization, the bill aims to ensure that this crucial backstop works effectively in our increasingly digital and fast-paced economy. This could help prevent bank failures, ensure that funds are available when needed, and protect the broader economy from shocks, which in turn safeguards people's deposits and financial well-being. If this bill doesn't become law, the discount window's operations might not be systematically evaluated or updated, potentially leaving the financial system vulnerable to weaknesses that could emerge during future economic downturns.
KEY PROVISIONS
5AI-extractedPROVISION 01
The Federal Reserve Board of Governors must start a review of the discount window lending programs within 60 days of the bill becoming law and complete it within 240 days.
This ensures a timely and comprehensive evaluation of a critical financial stability tool.
PROVISION 02
The review must assess the effectiveness of the discount window's technology, cybersecurity, and communication methods, especially during financial stress.
Modernizing these aspects is crucial for the timely and secure provision of funds in a digital age.
PROVISION 03
The review must examine the 'stigma' associated with using the discount window and explore ways to reduce it and improve access and efficiency.
Addressing stigma could encourage banks to use the discount window proactively, preventing liquidity issues from escalating.
PROVISION 04
After the review, the Board of Governors must develop a written plan to fix identified problems and improve the discount window, including actions, timelines, and ongoing maintenance.
This ensures that the review's findings translate into concrete improvements and accountability.
PROVISION 05
The Board of Governors must submit annual reports to Congress on the effectiveness of discount window operations and progress on the remediation plan, with the Inspector General also providing annual progress reports.
Ongoing reporting provides transparency and ensures continued oversight of the discount window's modernization.
SPONSORSHIP
1 + 2
R· Texas
YRS IN OFFICE
3
BILLS LED
36
COSPONSOR BREAKDOWNBIPARTISAN · 0%
DEM 0 REP 2 IND 0
ACTION TIMELINE
14 EVENTSFEB 11
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
FEB 9
Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
FEB 9
Considered under suspension of the rules. (consideration: CR H2076-2078; text: CR H2076-2077)
FEB 9
DEBATE - The House proceeded with forty minutes of debate on H.R. 3390.
BILL INFO
TypeHouse Bill
NumberHR 3390
Congress119th
StatusPassed House
IntroducedMay 14, 2025
Last actionFeb 11, 2026
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PASSED HOUSE· 119TH CONGRESS · FINANCIAL SERVICES COMMITTEE · INTRODUCED MAY 14, 2025
House BillHR 3390Credit and credit marketsGovernment studies and investigations
Bringing the Discount Window into the 21st Century Act
INTRODUCED MAY 14, 2025· LAST ACTION FEB 11, 2026
PASSAGE CHANCES
—%
READING
5 min
COSPONSORS
2
COMPLEXITY
Moderate
