Discount Window Direct (DWD) Frequently Asked Questions

1. What is Discount Window Direct (DWD)?

   Discount Window Direct is a Federal Reserve System application that allows depository institutions to conduct many discount window activities online.

2. How do I get access to DWD?

   DWD requires individuals to have FedLine^® access. Operating Circular 10 (OC 10) authorized individuals with a current email address on file and existing FedLine credentials can ask their local End User Authorization Contact (EUAC) to add DWD to their profile to get DWD application access. OC 10 authorized individuals without a FedLine credential can ask their local EUAC to request a new credential be issued. For information on EUACs and requesting access, visit the Discount Window Direct Application Setup page.

3. What is the process of requesting access to DWD for non-FedLine customers?

   To access DWD, non-FedLine depository institutions need to complete the following steps:

   • Complete Operating Circular 1 (OC 1)
   • Complete Operating Circular 10 (OC 10)
   • Comply with the terms and conditions of Operating Circular 5 (OC 5) and the Certification Practice Statement (CPS)
   • Ensure authorized individuals designate End User Access Contacts (EUACs). EUACs will then be able to request FedLine credentials for individuals at the institution to access DWD.

    

   See Discount Window Direct Application Setup page for details.

4. What is an “EUAC”?

    The End User Authorization Contacts (EUACs) are the individuals at depository institutions that are authorized to request, change, and revoke FedLine credentials associated with the institution’s users. EUACs manage Subscriber access to services and applications (including DWD) for their institution as it conducts business and/or reporting with the Federal Reserve Banks.

5. Is DWD required for access to the Discount Window?

   DWD is a quick and easy option for utilizing the discount window, but it is not required to access the discount window.

6. Can I still borrow by calling my local Federal Reserve Bank district?

   Yes, institutions can continue to borrow by calling to request an advance.

7. Does the Reserve Bank charge any fees for using DWD?

   There are no fees for using DWD nor costs associated with credentials. Institutions may have as many credentials as desired.

8. How do I reset my FedLine credential passphrase?

   For forgotten passphrases or lost credentials, please call the Federal Reserve Bank Services Support Center at (833) 377-7827.

9. Who do I contact for more information on DWD?

   Contact your local Reserve Bank (Off-site) with additional questions.

10. What time does DWD open and close?

    Discount window advance and payment operating hours within DWD close at 7:00 PM eastern time, opening time is determined by each local Reserve Bank (Off-site).

DWD Self-Service Loan Collateral FAQs:

1. What are the key benefits of using the self-service loan collateral feature?

   What are the key benefits of using the self-service loan collateral feature?

   • Self-service loan collateral accelerates the collateral process by enabling secure digital submission of Collateral Schedules with real-time tracking, eliminating manual methods.
   • Collateral Schedule submissions via DWD are simplified, encrypted and secure.
   • Submitting a Collateral Schedule via DWD does not require a separate cover letter and institutions can track each file status in real time.

     

   Future enhancements are planned to increase processing speed.

2. Do I have to use this new feature?

    The self-service loan collateral feature is designed to streamline the revaluation process and is recommended for faster processing and status tracking capabilities. However, depository institutions can continue submitting loan collateral files using email.

3. Can I test this before submitting real data?

   Yes. Reach out to your local Reserve Bank (Off-site) to coordinate testing.

4. How quickly will my loan collateral be processed?

   Revaluations submitted during business hours are typically completed the same day. You can track the approval status in real time through DWD.

5. When can I submit loan collateral?

   Anytime. DWD accepts submissions 24/7/365. Off-hours submissions (evenings, weekends, holidays) are queued and processed the next business day.

6. Can I upload multiple files at once?

   Not currently. You can submit one file at a time using drag-and-drop functionality or by clicking the Upload button. Each file should contain one collateral tab.

   Note: Multi-file upload is being considered for a future release.  
    
7. What file formats are accepted?

   For out-of-scope institutions, files must be in Excel format such as “.xls”, “.xlsx”, and “.csv”. For in-scope institutions, files must be in standard text format such as “.txt”.

8. Can I edit or cancel a submission after uploading?

   After uploading, a user can elect to not complete the submission by choosing the Discard Selected button.

   Once a file is fully submitted and no longer appears in the Action Required panel, the file cannot be edited or cancelled. Contact your local Reserve Bank (Off-site) for assistance to cancel a file that has already been submitted

9. How will I know if my submission was successful?

   Once the file is submitted and authorized by the appropriate depository institution personnel, the status of the file will change to Pending and the file submission will no longer appear in the Action Required section. If the file is accepted/rejected, the user will receive an email as well as a notification from the DWD Message Center, indicating that the transaction has been complet ed/rejected.

10. What should I do if DWD isn’t working?

    Reach out to the Federal Reserve Bank Services Support Center at 833-377-7827 for customer support or your local Reserve Bank (Off-site) Credit Risk Management team.

11. What causes submission errors and how can I avoid them?

    Most common errors:

    • Date formatting: As-of-Date label must be in Column A and the date must be in Column B of the header
    • File structure changes: Any changes to field spacing or sequencing from your previous submissions could result in a rejected file

     
12. Where can I find more help?
    • DWD Quick Reference Guide: Available after logging into the DWD portal
    • Direct support: Reach out to your local Reserve Bank (Off-site) Credit Risk Management team

     

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