Fed earnings fall 46% in 2022 to $58.4 billion.
The website Federal Reserve (Fed) announced Friday a an estimated profit of $58.4 billion in 2022.although the Reserve Bank’s audited financial statements, which will be released in the coming months, may include adjustments to these preliminary unaudited results.
During the year 2022, reserve banks transferred $76 billion in weekly earnings to the US Treasury.Reserve banks transferred $76 billion in weekly revenue to the US Treasury[1945-93]while most suspended remittances from September to build up a deferred asset, which stood at €1.5 billion. 18.8 billion euros at the end of the year.
The Fed’s estimated $58.4 billion profit represents a… Decrease of 49.5 billion euros (-46%) compared to the profit of 107.9 billion euros in 2021.The rise in interest charges, which exploded to 102.4 billion, an increase of 96.6 billion compared to the 5.7 billion charges in 2021, is the main reason for this.
Whereas, interest income on securities purchased through open market operations totaled 170 billion in 2022, an increase of 47.6 billion. against interest income of 122.4 billion in 2021.
The website reserve bank operating costsnet of amounts reimbursed by the Treasury and other entities for services provided by banks as fiscal agents, 5.6 billion euros in the year.