Congress clamps down on Fed opacity

Pressure on the Federal Reserve to declare the recipients of its loans stepped up on Thursday after the Senate backed legislation which supports the outlawing of Fed borrowers' anonymity.

The Senate, the upper house of the United States legislature, on Thursday voted 59 to 39 in favour of the measure, tagged on to a budget bill.

The legislation is not binding but the move further illustrates the Hill's discord at the Fed's reluctance to name and shame those that have benefited from the $1.25