The Federal Reserve Banks’ Discount Window (Off-site) provides a contingency funding source that helps participants efficiently manage their liquidity risks. Discount Window Direct (DWD) is an application that enables eligible depository institutions to conduct discount window business online.
DWD users give high marks to the DWD application, saying it is an efficient and quick way to manage their discount window activities. According to an August 2024 Federal Reserve survey, 75% of users say that DWD is very easy to use.
The online tool enables eligible depository institutions to:
- Request loan advances
- Make payments
- View collateral value
- Review authorized borrowers
- Send and receive messages with Discount Window staff
DWD was released in 2024 to modernize access to the Discount Window. Over 1,000 depository institutions have registered to use DWD, with dozens more registering each month.
[Discount Window Direct is an] excellent and efficient process improvement that is easy to use.
Visit the Discount Window Direct Feature Guide, which contains additional information about the application, and the Discount Window Direct Application Setup page to learn more about how to get started. DWD is meant to supplement current processes and is not required to access the Discount Window. Contact your local Reserve Bank (Off-site) with any questions.
