Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Fed posts income of $82 billion in 2010

By Charles Riley, staff reporter


NEW YORK (CNNMoney) -- The Federal Reserve made $82 billion in income in 2010, the central bank said Tuesday.

The Fed turns over most of its profits to Treasury in weekly remittances from the 12 regional Federal Reserve Banks to the government.

In 2010, the Fed sent almost all of its profit -- $79 billion -- to Treasury, a $32 billion increase from the amount transferred in 2009.

The increase in income was driven primarily by $24 billion in interest earnings on federal agency and mortgage backed security holdings.

Audited by Deloitte & Touche, the Fed's annual statement reveals the bank holds assets of $2.4 trillion.

Overall, the balance sheet reflects the massive amounts of bond and securitized mortgage products the Fed has snapped up in an effort to spur economic growth.

Holdings of U.S. Treasury securities increased $261 billion -- no surprise given the Fed's massive bond-buying program. Meanwhile, holdings of federal agency and mortgage backed securities increased $86 billion.

In January, the Fed announced a preliminary, unaudited profit of $81 billionTo top of page

Index Last Change % Change
Dow 18,456.35 -15.82 -0.09%
Nasdaq 5,154.98 15.17 0.30%
S&P 500 2,170.06 3.48 0.16%
Treasuries 1.51 -0.00 -0.26%
Data as of 6:20pm ET
Company Price Change % Change
Ford Motor Co 12.71 -1.13 -8.16%
Facebook Inc 125.00 1.66 1.35%
Bank of America Corp... 14.68 0.05 0.34%
Apple Inc 104.34 1.39 1.35%
Microsoft Corp 56.21 0.02 0.04%
Data as of 4:15pm ET
Sponsors

Sections

HSBC banker arrested at JFK airport as he prepared to leave the country. He and former trader face federal charges they manipulated currency trades. More

Most unions are officially supporting Hillary Clinton, but there's fear that union members will defect and vote for Donald Trump. Workers are angry about trade, jobs and immigration. More

It's about to get harder for some luxury all-cash home buyers to hide their identity from the U.S. government. More

approved - patsurisp
criley.ppatsuris