Fed seeks public input on discount window operations

Public input on operational aspects of the Federal Reserve Banks’ discount window,  which provides short-term credit for banks and credit unions, is invited in a request for information (RFI) announced by the Fed Board Thursday.

The Fed, in its announcement, said it’s seeking information on how it may further improve the efficiency and ease of access to discount window and intraday credit. It said it seeks input on Fed operational practices, including 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.

“This RFI does not seek comment on discount window or intraday credit policy considerations, such as the eligibility criteria and terms for discount window advances and intraday credit,” the Fed stated in a draft notice for the Federal Register.

Comments will be due 90 days after the RFI is published in the Register.

Federal Reserve Board requests comment around operational practices of the discount window

Draft Federal Register notice