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Fed Board Announces $58.4B Net Income in 2022

US

Preliminary Federal Reserve Bank financial results for 2022:

  • The Reserve Banks' 2022 estimated net income of $58.4 billion decreased $49.5 billion from 2021 earnings of $107.9 billion, primarily driven by increased interest expense;
  • Interest income on securities acquired through open market operations totaled $170.0 billion in 2022, an increase of $47.6 billion from 2021 interest income of $122.4 billion;
  • Total interest expense of $102.4 billion increased $96.6 billion from 2021 total interest expense of $5.7 billion; of the increase in interest expense, $55.1 billion pertained to interest expense on Reserve Balances held by depository institutions and $41.5 billion related to interest on securities sold under agreements to repurchase
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