# 119-s-4585: Discount Window Preparedness Act

119-s-4585, Discount Window Preparedness Act, is a 119th Congress bill sponsored by Sen. Warner, Mark R. [D-VA] (D-VA); status introduced; PRIA reads it as touching household money (as of 2026-07-25).

- Canonical: https://policyrisk.com/legislation/119-s-4585
- As of: 2026-07-25
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-4585
- Congress: 119
- Title: Discount Window Preparedness Act
- Status: introduced
- Introduced: 2026-05-20
- Sponsor: Sen. Warner, Mark R. [D-VA] (D-VA)
- Cosponsors: 1
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-07-25

## Summary

**This bill would require depository institutions to demonstrate they can quickly borrow from the Federal Reserve's discount window** and build formal readiness programs. It would also push regulators to standardize and automate discount-window operations to reduce stigma and speed access. - Banks over $100 billion in assets would have to test borrowing readiness at least quarterly. Banks with $10 billion to $100 billion would have to test at least semiannually and put annual liquidity plans under management review and supervisory reporting. - Smaller banks and credit unions would get simplified procedures to pledge small business loans as collateral and a Fed outreach program to provide technical assistance. - The Federal Reserve would be required to extend access hours to 8 p.m. in each U.S. time zone, create a secure online platform to automate approvals, standardize operations across Reserve Banks, and review balance-sheet reporting to reduce market distortions.

## Cosponsors (1)

- Sen. Kennedy, John [R-LA] (R-LA), 2026-05-20T00:00:00.000Z

## Provisions PRIA read

- Faster online access and collateral rules: benefit, medium. This bill would require the Federal Reserve to build a secure online platform so eligible banks can request advances. The Fed would automate primary credit approval when appropriate collateral is pledged. Reserve Bank operations would be extended so institutions can obtain advances until at least 8…
- Federal Reserve weekly balance reporting: benefit, medium. This bill would require the Board to review its weekly balance-sheet reporting, including advances, within 270 days. The review would pay special attention to district-level data and effects of section 11(s) disclosures. Within 90 days after the review ends, the Board would revise reporting policie…
- Reduce stigma with flexible advance rules: benefit, medium. This bill would let the Board allow Reserve Banks to vary advance size, term, and timing to reduce stigma. The Board would have to consult affected institutions and avoid undue burdens. The Board would also complete a study, with OCC, FDIC, and NCUA, on pricing and terms of advances and other chang…
- Discount window readiness for banks: mixed, high. This bill would require depository institutions eligible for discount window advances to run readiness tests and keep pledged collateral. Regulators would issue rules within 180 days. Banks with more than $100 billion in assets would test at least quarterly. Banks with $10 billion to $100 billion w…

## Related bills

- 119-s-1748: Kids Online Safety Act
- 119-s-3990: PrEP Access and Coverage Act of 2026
- 119-s-4189: INSULIN Act of 2026
- 119-s-3940: Access to Fair Financing for Opportunity and Resilient Development Act
- 119-s-3524: American Battlefield Protection Program Amendments Act of 2025
- 119-s-1639: American Innovation and Jobs Act

## Sources
- [119-s-4585 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/4585)

## Related
- [119-s-1748: Kids Online Safety Act](https://policyrisk.com/legislation/119-s-1748)
- [119-s-3990: PrEP Access and Coverage Act of 2026](https://policyrisk.com/legislation/119-s-3990)
- [119-s-4189: INSULIN Act of 2026](https://policyrisk.com/legislation/119-s-4189)
- [119-s-3940: Access to Fair Financing for Opportunity and Resilient Development Act](https://policyrisk.com/legislation/119-s-3940)
- [119-s-3524: American Battlefield Protection Program Amendments Act of 2025](https://policyrisk.com/legislation/119-s-3524)
- [119-s-1639: American Innovation and Jobs Act](https://policyrisk.com/legislation/119-s-1639)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-4585 (as of 2026-07-25).