Fed releases earnings figures
Northwestern Financial Review, Feb 1-Feb 14, 2004
The Federal Reserve Board has released figures that indicate the Federal Reserve Banks distributed $21.997 billion of their $23.792 billion total income to the U.S. Treasury during 2003. Federal Reserve System income is derived primarily from interest earned on U.S. government securities that the Federal Reserve has acquired through open market operations.
This income amounted to $22.602 billion in 2003. Additionally, revenues from fees for the provision of priced services to depository institutions totaled $887 million. The remaining income of $303 million includes earnings on foreign currencies and earnings from loans.
Copyright NFR Communications Inc Feb 1-Feb 14, 2004
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