“The Federal Reserve has asked a U.S. appeals court to stay a ruling that it must disclose documents regarding borrowing from its discount window and other “last resort” lending programs during the financial crisis.

“The stay is necessary to permit the board to consult with the Department of Justice regarding an appeal to the Supreme Court,” said David Skidmore, a Fed spokesman.

The Fed filed its request on Wednesday seeking a 90-day stay. On Friday, the U.S. Second Circuit Court of Appeals declined to reconsider a March decision by a three-judge appellate panel that the Fed must turn over documents related to individual borrowing from those lending programs.” Read more.

“Fed Asks Court to Stay Discount-Window Ruling”
The Wall Street Journal, August 26, 2010.

Image by renjith krishnan / FreeDigitalPhoto.net.