BUSINESS
09/27/2009 05:12 am ET | Updated May 25, 2011

Federal Reserve-Bloomberg Suit: Fed Argues That Disclosing Emergency Loans Will Hurt Banks

Aug. 27 (Bloomberg) -- The Federal Reserve argued yesterday that identifying the financial institutions that benefited from its emergency loans would harm the companies and render the central bank's planned appeal of a court ruling moot.

The Fed's board of governors asked Manhattan Chief U.S. District Judge Loretta Preska to delay enforcement of her Aug. 24 decision that the identities of borrowers in 11 lending programs must be made public by Aug. 31.

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