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Fed to Disclose Bank Crisis Borrowing
Posted By kurtnimmo On March 21, 2011 @ 10:48 am In constitution | Comments Disabled
March 21, 2011
The Federal Reserve will release data on bank borrowing during the financial crisis of 2008, after the Supreme Court rejected an appeal by the banking industry aimed at preventing the disclosures, Bloomberg News reported Monday.
Bloomberg sued the Federal Reserve to get it to release the data, and a Fed spokesman said the U.S. central bank will comply with the decision and release the records within the next five days.
It will be the first time a court has forced the central bank to disclose borrowing at its discount window, according to the report.
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