Page:United States Statutes at Large Volume 124.djvu/2144

 124 STAT. 2118 PUBLIC LAW 111–203—JULY 21, 2010 SEC. 1103. PUBLIC ACCESS TO INFORMATION. (a) IN GENERAL.—Section 2B of the Federal Reserve Act (12 U.S.C. 225b) is amended by adding at the end the following: ‘‘(c) PUBLIC ACCESS TO INFORMATION.—The Board shall place on its home Internet website, a link entitled ‘Audit’, which shall link to a webpage that shall serve as a repository of information made available to the public for a reasonable period of time, not less than 6 months following the date of release of the relevant information, including— ‘‘(1) the reports prepared by the Comptroller General under section 714 of title 31, United States Code; ‘‘(2) the annual financial statements prepared by an inde- pendent auditor for the Board in accordance with section 11B; ‘‘(3) the reports to the Committee on Banking, Housing, and Urban Affairs of the Senate required under section 13(3) (relating to emergency lending authority); and ‘‘(4) such other information as the Board reasonably believes is necessary or helpful to the public in understanding the accounting, financial reporting, and internal controls of the Board and the Federal reserve banks.’’. (b) FEDERAL RESERVE TRANSPARENCY AND RELEASE OF INFORMATION.—Section 11 of the Federal Reserve Act (12 U.S.C. 248) is amended by adding at the end the following new subsection: ‘‘(s) FEDERAL RESERVE TRANSPARENCY AND RELEASE OF INFORMATION.— ‘‘(1) IN GENERAL.—In order to ensure the disclosure in a timely manner consistent with the purposes of this Act of information concerning the borrowers and counterparties participating in emergency credit facilities, discount window lending programs, and open market operations authorized or conducted by the Board or a Federal reserve bank, the Board of Governors shall disclose, as provided in paragraph (2)— ‘‘(A) the names and identifying details of each borrower, participant, or counterparty in any credit facility or covered transaction; ‘‘(B) the amount borrowed by or transferred by or to a specific borrower, participant, or counterparty in any credit facility or covered transaction; ‘‘(C) the interest rate or discount paid by each borrower, participant, or counterparty in any credit facility or covered transaction; and ‘‘(D) information identifying the types and amounts of collateral pledged or assets transferred in connection with participation in any credit facility or covered trans- action. ‘‘(2) MANDATORY RELEASE DATE.—In the case of— ‘‘(A) a credit facility, the Board shall disclose the information described in paragraph (1) on the date that is 1 year after the effective date of the termination by the Board of the authorization of the credit facility; and ‘‘(B) a covered transaction, the Board shall disclose the information described in paragraph (1) on the last day of the eighth calendar quarter following the calendar quarter in which the covered transaction was conducted. ‘‘(3) EARLIER RELEASE DATE AUTHORIZED.—The Chairman of the Board may publicly release the information described in paragraph (1) before the relevant date specified in paragraph Web posting. Time period.