A U.S. appeals court refused to reconsider a ruling that requires the Federal Reserve Board to disclose documents identifying financial firms that might have failed without the government bailout.
The U.S. Court of Appeals in New York, in an Aug. 20 docket entry, denied a May 4 request by the Fed to review its unanimous decision in March requiring the agency to release records of the unprecedented $2 trillion loan program begun primarily after the 2008 collapse of Bear Stearns Cos.
The Fed may still ask the U.S. Supreme Court to reverse the appeals court.
The Clearing House Association LLC, an organization of 20 commercial banks that joined the Fed in defense of the lawsuit, has said it will appeal to the high court.
The ruling upheld a decision of a lower-court judge in Manhattan who ordered in August 2009 that the information be released.