Wednesday, May 25, 2011

Ron Paul Subcommittee To Investigate Fed Data Dump

Domestic Monetary Policy and Technology Subcommittee Chairman Ron Paul announced today the Subcommittee will hold a hearing entitled, “Federal Reserve Lending Disclosure: FOIA, Dodd-Frank, and the Data Dump.”

The hearing will explore the information disclosed by the Federal Reserve in compliance with the Dodd-Frank Act and the Freedom of Information Act regarding its emergency lending facilities, open market operations, and discount window lending that took place during the recent financial crisis.

The information, made available to the public in spreadsheets and PDFs on December 1, 2010 and March 31, 2011, provides data on thousands of transactions and trillions of dollars in lending supplied by the Federal Reserve. The hearing also will explore how the Fed plans to disclose such information in the future to comply with the mandatory disclosure provisions of the Dodd-Frank Act.

This could get interesting.

The hearing is scheduled for Wednesday, June 1st at 2:00 p.m., in room 2128 of the Rayburn House office building.

Scheduled to testify:

Scott G. Alvarez, General Counsel, Board of Governors of the Federal Reserve System

Thomas C. Baxter, General Counsel, Federal Reserve Bank of New York


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