Europe Doesn't Disclose Borrowers to Fed
Dec. 12 (Bloomberg) -- For all the transparency forced on the Federal Reserve by Congress and the courts, the US government and public remain in the dark on the beneficiaries and potential risks from one of the Fed's largest crisis-loan programs. As part of a currency-swap plan revived to fight the European debt crisis, the Fed lends dollars to other central banks, which auction them to local commercial banks. While the transactions with other central banks are all disclosed, the Fed doesn't track where the dollars end up. Bloomberg's Bradley Keoun reports on Bloomberg Television's "InsideTrack."