118th Congress · HOUSE BILLBILL

H.R. 3242 — To amend the Federal Reserve Act to establish a permanent Bank Term Funding Program to provide member banks and other depository institutions with short-term liquidity against long-term assets.

“To amend the Federal Reserve Act to establish a permanent Bank Term Funding Program to provide member banks and other depository institutions with short-term liquidity against long-term assets.”

Finance and financial sector

Introduced May 11, 2023

Last action May 11, 2023

Pipeline · Bill → Law

Step 1

Introduced

May 11, 2023

Step 2

Referred

May 11, 2023

Financial Services

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill establishes the Bank Term Funding Program, which allows a Federal Reserve bank to make advances to depository institutions that pledge certain collateral fully guaranteed by the United States. An advance must be made available with a term of up to one year.

Provisions · 1 sectionsIntroduced in House

Timeline · 2 actions

May 11, 2023

Introduced in House

May 11, 2023

Referred to the House Committee on Financial Services.