Discount Window Enhancement Act of 2024

This bill requires large and mid-sized banks (with over $10 billion in assets) to regularly test and prove they can quickly access short-term loans from the Federal Reserve's discount window during financial stress. It mandates quarterly testing for banks over $100 billion in assets and semiannual testing for those between $10-$100 billion, along with updated operational procedures like 24/7 access until 8 p.m. and an online platform for faster loan approvals. The law also simplifies how banks pledge collateral (including small business loans) and requires regulators to incorporate discount window readiness into routine bank examinations. Smaller institutions receive targeted technical assistance to improve their access to these critical liquidity tools.