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Fed
Vice Chairman Stanley Fischer on Friday said it was a "major"
concern that the 2010 Dodd-Frank law required the Fed to
disclose which banks had borrowed under a special facility
designed to extend credit to banks otherwise shut out of lending
markets.
The Fed previously released only aggregate figures for this
program but now publishes a more detailed report with a two-year
lag.
Fischer said the reporting requirements marked a "failure to
resolve the problem of stigma - that is, the stigma of borrowing
from the central bank at a time when the financial markets are
on guard," according to prepared remarks to a closed-door
conference.
"Indeed, some of the Dodd-Frank Act reporting requirements may
worsen the stigma problem," Fischer said, adding that the new
regulatory framework was still untested by crisis.
(Reporting by Jason Lange; Editing by Chizu Nomiyama)
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