WASHINGTON (CNNMoney) -- The Federal Reserve Board will release data on emergency loans made to Wall Street banks and others during the height of the financial crisis, after the Supreme Court refused Monday to side with banks who want the details kept secret.
Bloomberg LP, owner of Bloomberg News, had filed the lawsuit seeking details on a program that gave banks access to cheap loans in 2008. The Fed had originally refused to release the data, citing exemptions in open records laws for trade secrets.
A federal appeals court in New York ruled the media should have access to the loan data. A group of nation's banks appealed and asked the U.S. Supreme Court to stop it. The high court refused to intervene with no comment.
The Fed says it will comply and reveal details of loans made to borrowers in 2008.
"The Board will fully comply with the courts' decisions and is preparing to make the information available," a Fed spokesman said. (No timetable for the release was immediately available.)
The spokesman noted that some of the information relating to emergency loans had already been released last year, under the Dodd-Frank Act on financial reform.
In December, the Fed reported it had made $9 trillion in overnight loans to major banks and Wall Street firms during the financial crisis.
New York Magazine reporter Jessica Pressler, who has been caught up in controversy this past week, will not be moving on to a new job at Bloomberg News. More
Unilever sued Hampton Creek over its egg-free mayonnaise spread Just Mayo. But the company behind Best Foods and Hellman's mayonnaise has now dropped the lawsuit. More
The income of the top 1% jumped significantly in 2012, far outpacing inflation. Not only did this group make a larger share of the country's income, their share of total taxes also jumped from 35% to 38%. More