The Fed has been fighting a Freedom of Information request from Bloomberg and Fox on which banks accessed the Fed’s Discount window in the wake of the financial meltdown in 2008. It has lost the latest round, which could send the case to the Supreme Court.
The Fed wants to keep confidential the details so as not to destabilize the financial system (some fear a run on the banks if the information became public in timely fashion…). The news organizations are pushing for transparency…An interesting case, from an academic perspective, but not one likely to move the market so long as the Fed is not required to release its lending data in real-time.