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Federal Reserve Board announces Reserve Bank income and expense data and transfers to the Treasury f

Federal Reserve Board press release ---------- The Federal Reserve Board on Wednesday announced preliminary results indicating that the Reserve Banks provided for payments of approximately $80.2 billion of their estimated 2017 net income to the U.S. Treasury. The 2017 audited Reserve Bank financial statements are expected to be published in March and may include adjustments to these preliminary unaudited results. The Federal Reserve Banks' 2017 estimated net income of $80.7 billion represents a decrease of $11.7 billion from 2016, primarily attributable to an increase of $13.8 billion in interest expense associated with reserve balances held by depository institutions that was partially offset by an increase of $2.5 billion in interest income on securities acquired through open market operations. Net income for 2017 was derived primarily from $113.6 billion in interest income on securities acquired through open market operations (U.S. Treasury securities, federal agency and government-sponsored enterprise (GSE) mortgage-backed securities (MBS), and GSE debt securities) and foreign currency gains of $1.9 billion that result from the daily revaluation of foreign currency denominated investments at current exchange rates. The Federal Reserve Banks had interest expense of $25.9 billion primarily associated with reserve balances held by depository institutions, and incurred interest expense of $3.4 billion on securities sold under agreement to repurchase. To learn more click on the picture below to read the release.

Federal Reserve Board announces Reserve Bank income and expense data and transfers to the Treasury for 2017 - Read More from Federal Reserve Board

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