The Federal Reserve is seeking public input on the discount window, the Fed's oldest tool for providing liquidity support to depository institutions. According to a statement from the central bank on Thursday, the public consultation concerns the collection of legal documents, the process of pledging and withdrawing collateral, the process of applying for, receiving and repaying loans, the provision of intraday credit and the means of communication related to the mechanism. Fed policymakers and regulators want banks to be more comfortable using the discount window routinely to ensure that they can respond quickly in the event of a financial shock such as a run on deposits. Banks have been reluctant to use the Fed's discount window, fearing that it would be seen as a sign of weak or even desperate liquidity conditions. In addition, many industry insiders also believe that the operation of the discount window is clumsy, outdated, and cumbersome.