BANKING

Regional Fed Bank Kills Report on Disclosure: The Federal Reserve Bank, facing pressure on Capitol Hill to open up its policies to greater scrutiny, quashed an article on a study that found little impact from quicker disclosure of its decisions. A spokeswoman at the St. Louis Fed cited “the timing of the (congressional) hearings and the sensitivity of the issue.” The study found that quick disclosure of secret policy decisions through news leaks had no greater effect on the financial markets than the news warranted. That contrasts with remarks by Fed Chairman Alan Greenspan, who told lawmakers that quick disclosure affects interest rates when no change was intended. The Fed was “going to publish this in its review. The Fed board strongly objected,” a source said.