CORTEZ MASTO, ROUNDS PUSH FOR FED DISCOUNT WINDOW UPDATES TO PREVENT BANK COLLAPSES, PROTECT AMERICA'S FINANCIAL SYSTEM

WASHINGTON, Oct. 9 -- Sen. Catherine Cortez Masto issued the following press release:

Washington, D.C. -U.S. Senators Catherine Cortez Masto (D-Nev.) and Mike Rounds (R-S.D.) introduced the Bringing the Discount Window Into the 21st Century Act, which would direct the Federal Reserve to report to Congress on ways they can modernize the discount window and concerns they have identified with the current system. The discount window is the main way the Federal Reserve helps banks manage their liquidity needs.

"As we continue to be the financial hub for the world, America's financial institutions need to ensure they have enough money on hand to meet their needs," said Senator Cortez Masto. "In order to maintain an innovative and robust financi...