id	author	title	date	pages	extension	mime	words	sentence	flesch	summary	cache	txt
iiclr-17638	Tanselle, Ryan W.	Some Secrets Do Not Hurt Everyone: The Case for Additional Discount Window Reform in the United States' Federal Reserve	2011	34	.pdf	application/pdf	13975	879	58	TRANSPARENCY A. Historical Aversion to Central Bank Transparency Historically, most central banks were strong advocates of central bank secrecy.121 The historical reluctance of central banks to become open and transparent is well known. Therefore, in order to protect illiquid banks from the stigma attached to using the same lender of last resort facility as insolvent banks, secrecy exists regarding the disclosure of traditional lender of last resort loans made to financial institutions.9 In response to the recent global financial crisis, central banks assumed much greater lender of last resort power in an effort to stabilize the financial system.	cache/iiclr-17638.pdf	txt/iiclr-17638.txt