Fed plans appeal to avoid disclosing loan recipients

10/1/2009 | Bloomberg

The Federal Reserve plans to appeal a ruling ordering it to disclose companies that received emergency loans from the central bank. Solicitor General Elena Kagan authorized the filing with a federal appeals court in New York. "Public disclosure is likely to cause substantial competitive injury to these financial institutions, including the loss of public confidence in the institution, runs on banks and possible failure of some institutions," the Fed said in its notice.

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