,i  #aah? ,,congress  #b;d ,session  ,h4
 ,r4 #hbhh  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,may #h1 #bjbd,mr4    
,b>r introduc$ ! foll[+ bill2 :i* 0     
ref]r$ to ! ,committee on ,f9ancial     
,s]vices  ,a ,,bill  ,to require ! ,bo>d
 ( ,gov]nors ( ! ,f$]al ,res]ve ,sy/em  
to c>ry out a review ( disc\nt w9d[     
op]ations1 & = o!r purposes4  #a4 ,%ort 
title ,?is ,act may be cit$ z ! ,br++ ! 
,disc\nt ,w9d[ into ! #ba/ ,c5tury ,act4
  #b4 ,review ( disc\nt w9d[ op]ations  
,section #aj ( ! ,f$]al ,res]ve ,act    
7#ab ,u4,s4,c4 #bda et seq47 is am5d$-- 
7#a7 by r$esignat+ p>agraph 7#ab7 z     
p>agraph 7#aa72 &  7#b7 by add+ at ! end
 ! foll[+3  7#ab7 ,review ( disc\nt w9d[
 op]ations  7,a7 ,9 g5]al ,n lat] ?an   
#fj days aft] ! date ( enactm5t ( ?is   
p>agraph1 ! ,bo>d ( ,gov]nors %all      
comm5ce a review ( ! disc\nt w9d[ l5d+  
programs ( ! ,f$]al res]ve banks 7!     
disc\nt w9d[71 & %all complete su*      
review n lat] ?an #bdj days aft] ! date 
( enactm5t ( ?is p>agraph4  7,b7        

,cont5ts ,! review requir$ by           
subp>agraph 7,a7 %all include a         
consid]ation (-- 7i7 ! effectiv5ess ( ! 
disc\nt w9d[ 9 provid+ liquidity to     
f9ancial in/itutions1 includ+ 9 times ( 
f9ancial /ress2  7ii7 :e!r ! te*nology  
infra/ructure1 includ+ means (          
communications1 are suffici5t to support
 ! timely provision ( liquidity1 includ+
 9 times ( f9ancial /ress2  7iii7 !     
effectiv5ess ( cyb]security measures2   
7iv7 ! effectiv5ess ( communications    
betwe5 ,f$]al res]ve banks reg>d+       
disc\nt w9d[ op]ations2  7v7 !          
effectiv5ess ( ! ,bo>d ( ,gov]nors 9    
provid+ ov]sight ( ! disc\nt w9d[2  7vi7
 h[ ! disc\nt w9d[ int]acts ) o!r       
provid]s ( liquidity1 includ+ ! ,f$]al  
,home ,loan ,banks1 dur+ bo? normal     
op]ations & times ( f9ancial di/ress2 & 
7vii7 ! effectiv5ess ( exi/+ disc\nt    
w9d[ op]at+ h\rs & :e!r su* h\rs %\ld be
 exp&$1 tak+ into acc\nt ! int]action   
betwe5 disc\nt w9d[ op]at+ h\rs & !     
op]at+ h\rs ( paym5t sy/ems ( ! ,bo>d ( 

,gov]nors & ,f$]al res]ve banks1 su* z  
,fed,wire & ,fed,now4  7,c7 ,public     
comm5t ,9 c>ry+ out ! review requir$ by 
subp>agraph 7,a71 ! ,bo>d ( ,gov]nors   
%all provide ! public ) an opportunity  
to comm5t on ! effectiv5ess ( disc\nt   
w9d[ op]ations & to (f] sugge/ions =    
improv+ op]ations4  7,d7 ,rem$iation    
plan ,aft] complet+ ! review requir$ by 
subp>agraph 7,a7 & consid]+ any public  
comm5ts receiv$ pursuant to subp>agraph 
7,c71 ! ,bo>d ( ,gov]nors %all develop1 
& approve by a vote ( ! ,bo>d (         
,gov]nors1 a writt5 plan to rem$iate any
 id5tifi$ defici5cies or areas = enhanc+
 effectiv5ess ( ! disc\nt w9d[1 :i* %all
 include-- 7i7 an id5tification (       
actions t ! ,bo>d ( ,gov]nors w take to 
rem$iate ^? defici5cies2  7ii7 timel9es 
& mile/ones = implem5t+ ! plan &        
measures to demon/rate h[ ! ,bo>d (     
,gov]nors w ma9ta9 implem5t$ improvem5ts
 on an ongo+ basis2 &  7iii7 measures ( 
manag+ & controll+ defici5cies until !  
plan is implem5t$ 9 full4  7,e7 ,report 

to ,congress on review & plan  7i7 ,9   
g5]al ,n lat] ?an #cfe days aft] ! date 
( enactm5t ( ?is p>agraph1 ! ,bo>d (    
,gov]nors %all1 aft] approval by a vote 
( ! ,bo>d ( ,gov]nors1 submit a report  
to ! ,committee on ,f9ancial ,s]vices ( 
! ,h\se ( ,repres5tatives & ! ,committee
 on ,bank+1 ,h\s+1 & ,urban ,affairs ( !
 ,s5ate conta9+-- 7,i7 ! f9d+s ( !      
review requir$ by subp>agraph 7,a72     
7,,ii7 ! rem$iation plan requir$ by     
subp>agraph 7,d72  7ii7 ,consultation   
,be=e submitt+ ! report requir$ by      
clause 7i71 ! ,bo>d ( ,gov]nors %all--  
7,i7 provide a copy ( ! propos$ report  
to ! ,comptroll] ,g5]al ( ! ,unit$      
,/ates & ! ,inspector ,g5]al ( ! ,bo>d (
 ,gov]nors ( ! ,f$]al ,res]ve ,sy/em & !
 ,bureau ( ,consum] ,f9ancial           
,protection2 &  7,,ii7 provide !        
,comptroll] ,g5]al & ,inspector ,g5]al )
 an opportunity to provide fe$back on ! 
report4  7iii7 ,te/imony ,! ,*airman ( !
 ,bo>d ( ,gov]nors %all te/ify be=e !   
,committee on ,f9ancial ,s]vices ( !    

,h\se ( ,repres5tatives & ! ,committee  
on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! 
,s5ate ) respect to ! cont5ts ( ! report
 requir$ "u ?is subp>agraph4  7,f7      
,annual reports to ,congress  7i7       
,reports by ! ,bo>d ,! ,bo>d ( ,gov]nors
 %all submit an annual report to !      
,committee on ,f9ancial ,s]vices ( !    
,h\se ( ,repres5tatives & ! ,committee  
on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! 
,s5ate conta9+ a review ( ! effectiv5ess
 ( disc\nt w9d[ op]ations4  7ii7        
,reports by ! ,inspector ,g5]al ,!      
,inspector ,g5]al ( ! ,bo>d ( ,gov]nors 
( ! ,f$]al ,res]ve ,sy/em & ! ,bureau ( 
,consum] ,f9ancial ,protection %all     
submit an annual report to ! ,committee 
on ,f9ancial ,s]vices ( ! ,h\se (       
,repres5tatives & ! ,committee on       
,bank+1 ,h\s+1 & ,urban ,affairs ( !    
,s5ate conta9+ a report on ! progress ( 
! ,bo>d ( ,gov]nors 9 implem5t+ !       
rem$iation plan requir$ by subp>agraph  
7,d74  7,g7 ,confid5tial report         
in=mation ,any report requir$ "u ?is    

p>agraph may conta9 a confid5tial annex 
conta9+ in=mation t details any         
cyb]security defici5cies or any         
defici5cies :i*1 if made public1 c\ld   
cause f9ancial in/ability4  4