Discount Window Preparedness Act mandates testing and reporting for Federal Reserve discount window access.
The Discount Window Preparedness Act amends the Federal Reserve Act to require depository institutions to demonstrate their ability to access the discount window. It mandates quarterly testing for institutions with over $100 billion in assets and semiannual testing for those with $10-100 billion. The Federal Reserve Board, FDIC, OCC, and NCUA must promulgate regulations within 180 days, including asset thresholds and reporting requirements. The Board must also revise reporting policies based on a review completed within 90 days.
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