,,ii  #aai? ,,congress  #b;d ,session   
,s4 #edfe  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,septemb] #bc1         
#bjbf,ms4 ,cortez ,ma/o 7= h]self & ,mr4
 ,r\nds7 introduc$ ! foll[+ bill2 :i* 0 
read twice & ref]r$ to ! ,committee on  
,bank+1 ,h\s+1 & ,urban ,affairs  ,a    
,,bill  ,to am5d ! ,f$]al ,res]ve ,act  
to require ! ,bo>d ( ,gov]nors ( !      
,f$]al ,res]ve ,sy/em to c>ry out a     
review ( disc\nt w9d[ op]ations & to    
implem5t improvem5ts to su* 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  7a7 ,9
 g5]al ,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 ,!
 ,bo>d %all-- 7i7 n lat] ?an #fj days   
aft] ! date ( enactm5t ( ?is p>agraph1  
comm5ce a review ( ! disc\nt w9d[ l5d+  

programs ( ! ,f$]al res]ve banks2 &     
7ii7 n lat] ?an #bdj days aft] ! date ( 
enactm5t ( ?is ,act1 complete ! review  
requir$ "u clause 7i74  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     
measures implem5t$ ) respect to disc\nt 
w9d[ op]ations2  7iv7 ! effectiv5ess (  
communications betwe5 ,f$]al res]ve     
banks1 f9ancial in/itutions1 ! ,bo>d1 ! 
,f$]al ,deposit ,insurance ,corporation1
 ! ,comptroll] ( ! ,curr5cy1 ! ,f$]al   
,h\s+ ,f9ance ,ag5cy1 & ! ,secret>y ( ! 
,treasury reg>d+ disc\nt w9d[ op]ations2
  7v7 ! effectiv5ess ( ! ,bo>d 9 provid+
 ov]sight ( ! disc\nt w9d[ & 9 ensur+   
consi/5t access to ! disc\nt w9d[ across

 ! ,f$]al ,res]ve ,sy/em2  7vi7 h[ !    
disc\nt w9d[ int]acts ) o!r provid]s (  
liquidity1 includ+ ! ,f$]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&$1    
tak+ into acc\nt ! int]action betwe5    
disc\nt w9d[ op]at+ h\rs & ! op]at+ h\rs
 ( paym5t sy/ems ( ! ,f$]al res]ve      
banks1 su* z ! ,f$wire ,funds ,s]vice & 
,fed,now ,s]vice2  7viii7 ! impact (    
mobile bank+ & in/ant communications    
te*nology on depositor behavior &       
liquidity risk pos$ to f9ancial         
in/itutions1 includ+ h[ ! disc\nt w9d[  
c-- 7,i7 help f9ancial in/itutions bett]
 respond to rapid liquidity %ortfalls2 &
  7,,ii7 prev5t broad] f9ancial         
in/ability2 &  7ix7 ! effectiv5ess ( !  
disc\nt w9d[ 9 light ( ! /igma associat$
 ) its usage1 ways to r$uce su* /igma1 &
 ways to improve access1 op]ational     
effici5cy1 transp>5cy1 & timel9ess ( !  
process = f9ancial in/itutions seek+    

advances1 includ+ on ! pric+ & o!r t]ms 
( su* advances4  7,c7 ,rem$iation plan  
,aft] ! ,bo>d completes ! review requir$
 by subp>agraph 7,a71 ! ,bo>d1 9        
consultation ) ! ,f$]al res]ve banks1   
%all-- 7i7 id5tify defici5cies ) !      
disc\nt w9d[ & areas = enhanc+ disc\nt  
w9d[ effectiv5ess2 &  7ii7 develop a    
writt5 plan to rem$iate ! id5tifi$      
defici5cies & implem5t ! id5tifi$       
enhancem5ts1 :i* %all include-- 7,i7 an 
id5tification ( actions t w be tak5 to  
enhance disc\nt w9d[ effectiv5ess &     
rem$iate id5tifi$ defici5cies2  7,,ii7  
timel9es & mile/ones = implem5t+ ! plan 
& measures to demon/rate h[ ! implem5t$ 
improvem5ts w be ma9ta9$ on an ongo+    
basis2 &  7,,iii7 measures ( manag+ &   
controll+ any defici5cies & curr5t      
op]ations until ! plan is implem5t$ 9   
full4  7,d7 ,report to ,congress on     
review & plan  7i7 ,9 g5]al ,n lat] ?an 
#cfe days aft] ! date ( enactm5t ( ?is  
p>agraph1 ! ,bo>d %all submit to !      
,committee on ,f9ancial ,s]vices ( !    

,h\se ( ,repres5tatives & ! ,committee  
on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! 
,s5ate a report conta9+-- 7,i7 ! f9d+s (
 ! review requir$ by subp>agraph 7,a72 &
  7,,ii7 ! rem$iation plan requir$ by   
subp>agraph 7,c74  7ii7 ,consultation   
,be=e submitt+ ! report requir$ by      
clause 7i71 ! ,bo>d %all-- 7,i7 provide 
a copy ( ! propos$ report to !          
,comptroll] ( ! ,curr5cy1 ! ,f$]al      
,deposit ,insurance ,corporation1 !     
,f$]al ,h\s+ ,f9ance ,ag5cy1 & !        
,secret>y ( ! ,treasury2 &  7,,ii7      
provide ! ,comptroll] ( ! ,curr5cy1 !   
,f$]al ,deposit ,insurance ,corporation1
 ! ,f$]al ,h\s+ ,f9ance ,ag5cy1 & !     
,secret>y ( ! ,treasury ) an opportunity
 to provide fe$back on ! report4  7iii7 
,te/imony ,! ,*airman ( ! ,bo>d %all1 at
 ! semi-annual he>+ requir$ "u section  
#b;,b1 te/ify ) respect to ! cont5ts ( !
 report requir$ "u ?is subp>agraph4     
7,e7 ,annual reports to ,congress  7i7  
,reports by ! ,bo>d ,! ,bo>d %all submit
 to ! ,committee on ,f9ancial ,s]vices (

 ! ,h\se ( ,repres5tatives & !          
,committee on ,bank+1 ,h\s+1 & ,urban   
,affairs ( ! ,s5ate an annual report    
conta9+ a review ( ! effectiv5ess (     
disc\nt w9d[ op]ations & a progress     
report on ! actions tak5 to implem5t !  
id5tifi$ enhancem5ts describ$ 9         
subp>agraph 7,c74  7ii7 ,reports by !   
,inspector ,g5]al ,! ,inspector ,g5]al (
 ! ,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve 
,sy/em & ! ,bureau ( ,consum] ,f9ancial 
,protection %all submit an annual report
 to ! ,committee on ,f9ancial ,s]vices (
 ! ,h\se ( ,repres5tatives & !          
,committee on ,bank+1 ,h\s+1 & ,urban   
,affairs ( ! ,s5ate conta9+ a report on 
! progress ( ! ,bo>d 9 implem5t+ !      
rem$iation plan requir$ by subp>agraph  
7,c74  7,f7 ,confid5tial report         
in=mation ,any report requir$ "u ?is    
p>agraph may conta9 a confid5tial annex 
conta9+ in=mation t1 if made public1    
c\ld-- 7i7 impact monet>y policy1       
f9ancial /ability1 or cyb]security2 or  
7ii7 significantly endang] ! f9ancial   

/ability ( any f9ancial in/itution4  4  
7b7 ,sunset  7#a7 ,9 g5]al ,section #aj 
( ! ,f$]al ,res]ve ,act 7#ab ,u4,s4,c4  
#bda et seq47 is am5d$ by /rik+ p>agraph
 7#ab71 z add$ by subsection 7a7 ( ?is  
section4  7#b7 ,effective date ,!       
am5dm5ts made by p>agraph 7#a7 %all take
 effect on ! date on :i* ! ,bo>d (      
,gov]nors ( ! ,f$]al ,res]ve ,sy/em     
notifies ,congress & publi%es on a      
public website ( ! ,bo>d t ! rem$iation 
plan requir$ "u subp>agraph 7,c7 (      
p>agraph 7#ab7 ( section #aj ( ! ,f$]al 
,res]ve ,act 7#ab ,u4,s4,c4 #bda et     
seq471 z add$ by subsection 7a7 ( ?is   
section1 has be5 fully implem5t$4