Fed asks for stay on releasing lending details


The Federal Reserve does not want to release details about the financial institutions that have received more than $1 trillion in loans through about a dozen emergency programs.

To stop the release, the Fed asked U.S. District Judge Loretta Preska to delay enforcement of her August 24 ruling mandating the release of the identities and asked for a stay in her court yesterday. Preska ordered the release by August 31 in the case filed by Bloomberg on November 7, 2008, under the Freedom of Information Act.