NPR logo Federal Reserve Identifies Financial Groups That Got Loans

America

Federal Reserve Identifies Financial Groups That Got Loans

The Federal Reserve has released the names of financial institutions that borrowed money from the central bank's 'discount window' during the 2008 economic crisis. Reuters says there are 25,000 pages of documents. The Fed disclosed the names after the Supreme Court refused to block a lower court's decision ordering the action.

CNBC explains banks use the Fed's window when they can't access emergency money anywhere else. If it's shown that an institution sought emergency help from the Fed, companies may worry that they appear financially weak.

Three years ago, Bloomberg News first asked the Fed to reveal the names of firms that got emergency loans during the worst moments of the financial crisis. Today Bloomberg adds "Still, the Fed won't disclose the collateral it accepted, which would reveal the risks it took."