Federal Reserve must update emergency lending and report to Congress yearly
S. 5465 — Bringing the Discount Window into the 21st Century Act · Filed by Catherine Cortez Masto (D-NV) · 1 cosponsor · Introduced Sep 23, 2026 · Referred to committee
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What it does
The bill tells the Federal Reserve to review how it runs the discount window. The discount window is where banks borrow money fast during money crises. The Fed must find problems and make a plan to fix them. The Fed must tell Congress every year how it is doing. The Fed must make the discount window faster and open longer hours.
Who it affects
Banks use the discount window when they need money fast. People benefit when banks can get money quickly during money crises.
One thing to notice
The Federal Reserve can hide some findings if it says they might hurt bank safety. The Federal Reserve also decides when it has done enough work to stop reporting.
From the analysis of the bill text, linked under Primary records below.
Where it stands
1 cosponsor: 1 Republicans.
- Sep 23, 2026 — Introduced · Congress.gov: “Introduced in Senate”
- Sep 23, 2026 — Referred to Senate Committee on Banking, Housing, and Urban Affairs · Congress.gov: “Read twice and referred to the Committee on Banking, Housing, and Urban Affairs”
Dates and quoted wording are Congress.gov's action record; the timeline shows status changes, not every procedural step.
Words to know
- discount window — A way for banks to borrow money fast from the Federal Reserve during crises.
- Federal Reserve — The central bank of the United States that manages money and banking.
How this was measured
Analysis — Quorum's AI read the bill text published by Congress.gov (6,437 characters) on Sep 30, 2026. Section numbers in the findings refer to that text, linked below; transparency and hidden-provision scores are compared against the median of 16,222 analysed bills.
Status and sponsors — Congress.gov's bill record — actions, committee referrals and cosponsors — loaded nightly. The timeline shows status changes, not every procedural action.
As of — page rendered 2026-10-20.
“Federal Reserve must update emergency lending and report to Congress yearly” QuorumCivic. https://share.quorumcivic.app/bill/119/s5465/simple Report an error
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