Warner Introduces Legislation to Modernize Federal Reserve Discount Window, Restore Intended Use

Press Release

“The failures of Silicon Valley Bank and Signature Bank last year highlighted the urgent need to reform the Federal Reserve’s discount window for the 21st century economy, where bank runs can occur over hours, rather than days. My legislation will implement key reforms to make sure that banks can actually use the discount window, reduce the unnecessary stigma associated with that use, and improve the window’s operations to meet the challenges of the digital age. We need to modernize the window and return this important liquidity tool to its intended role."

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