The Federal Reserve Bank of Boston's downtown Boston office tower seen framed in the canopy of a South Station subway headhouse. Photo by James Sanna | Banker & Tradesman Staff / file

The Federal Reserve Bank of Boston and its 11 fellow regional Federal Reserve banks released a common public records policy this week following pressure from Congress to be more transparent.

The policy will go into effect in the 12 member banks of the Federal Reserve System on Jan. 1.

The new policy states that records created on or before Jan. 1, 2024 will be subject to disclosure to members of the public and the media, and unless otherwise exempt, “will be published or provided upon request.”

Documents exempted to the disclosure rule include those authorized by an executive order to be kept secret for the interest of national defense and foreign policy, containing trade secrets, relating to security procedures of the regional banks, “pre-decisional” or other privileged documents plus personnel and medical files that can warrant invasion of privacy.

This policy comes after the demands from some members of Congress, including Sen. Elizabeth Warren, criticizing regional Fed banks’ delaying and blocking requests for information that should be part of public record.

As quasi-independent institutions, the Federal Reserve and its member regional banks are not legally subject to the federal Freedom of Information Act. Warren and Republican Sen. Pat Toomey of Pennsylvania had proposed legislation last year to change that.