Loading...
See More

US pumps record high into govt coffers

Jan 10 2013 18:10 Reuters
US Flag


Related Articles

US Fed in push to rescue economy

Fed details stress test for big banks

Fed comments push shares lower

Fed plan offers SA hope as well

Wall St little changed as Fed rally fades

Rand recovers after Fed support

 
Washington - The Federal Reserve pumped a record $88.9bn into the US Treasury last year, the spoils of big profits made on its vast holdings of securities, the US central bank said on Thursday.

The Fed said the money was earned primarily from interest payments on the securities in its multi-trillion dollar portfolio of US government debt and bonds related to the housing industry.

Each year, the central bank sends its earnings, minus operating costs and other expenses, to the Treasury.

The 2012 figure eclipsed the prior record of $79.3bn deposited into government coffers in 2010.

The Fed estimated its net income for last year at $91 billion.

 

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

united states  |  fed
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

sponsored content
Sanral arrogant and evasive - JPSA 2014-09-04 09:13

Lawyers representing Justice Project SA have labelled responses they received from Sanral's legal team relating to e-tolls as surprisingly arrogant and evasive.

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...