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.
In the last five years, pumpkin sales have risen 34% as people demand pumpkin in everything from beer to beef jerky. More
Federal officials have accused four men of hacking into computer networks of the U.S. military and Microsoft and stealing more than $100 million worth of software. More
Hack the Hood teaches low-income youth in Oakland how to build websites for small businesses. It's only a year old but is already having a big impact on students like Nhat Ho. More
For these seniors, the best retirement is not to retire. From a 102-year-old Wal-Mart worker to an activist park ranger, these workers have stayed on the job well into their golden years. More