Fed urges secrecy on banks in bailout programs | Markets | Markets News | Reuters

Fed urges secrecy on banks in bailout programs | Markets | Markets News | Reuters: "* Fed urges judge not to enforce order pending appeal

* Banks say disclosure could cause loss of confidence

By Jonathan Stempel

NEW YORK, Aug 27 (Reuters) - The U.S. Federal Reserve asked a federal judge not to enforce her order that it reveal the names of the banks that have participated in its emergency lending programs and the sums they received, saying such disclosure would threaten the companies and the economy.

The central bank filed its request on Wednesday, two days after Chief Judge Loretta Preska of the U.S. District Court in Manhattan ruled in favor of Bloomberg News, which had sought information under the federal Freedom of Information Act.

Preska said the Fed failed to show that revealing the names would stigmatize the banks and result in 'imminent competitive harm.' The Fed asked the judge not to require disclosure while it readies an appeal."