The Federal Reserve today requested public input about the operational practices of the discount window, which provides short-term credit for banks and credit unions. Feedback will be used to improve the efficiency and ease of access to discount window and intraday credit, the Fed said.
Specifically, the request for information seeks input on Fed operational practices, such as the collection of legal documentation; the process for pledging and withdrawing collateral; the process for requesting, receiving and repaying discount window loans; the extension of intraday credit; and Reserve Bank communication practices related to the discount window and intraday credit. The Fed is not seeking comment on discount window or intraday credit policy considerations, such as the eligibility criteria and terms for discount window advances and intraday credit.
