WASHINGTON - The Washington Metropolitan Area Transit Authority officials met with the Federal Reserve late Monday in a last-ditch effort to urge them to step in as guarantor on a leaseback deal the agency entered into with a Belgian bank. The move came just ahead of a U.S. District Court hearing today that will decide whether WMATA should remit a $43 million termination payment to the bank on the deal.

The Fed "is considering it," said Candace Smith, spokeswoman for WMATA. "We have not heard back from them."

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