It’s nice to be a Fed favored bank.
If you want to know which investment houses have been getting the infamous “repo” loans from the Federal Reserve Bank of New York in recent weeks, as GATA (Gold Anti-Trust Action) has wanted to know, you’ll have to wait two years, according to a letter received from the bank today in response GATA’s request for the information.
Perhaps more interestingly, the New York Fed’s letter, signed by Corporate Secretary Shawn Elizabeth Phillips, contends that the bank is exempt from the federal Freedom of Information Act but tries to comply with its spirit.
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