The Fed released preliminary unconfirmed financial information showing that it forecasts $107.8 billion in net income in 2021, of which $107.4 billion was remitted to the U.S. Treasury under the Federal Reserve Act. Federal Reserve Act requires Central banks to remit excess earnings to the U.S. Treasury after paying operating expenses and dividends.
Federal Reserve Banks' 2021 estimated net income of $107.8 billion is an increase of $19.3 billion over 2020. The increase was primarily due to a $25.1 billion increase in interest income associated with U.S. Treasuries. The 2021 net income was primarily derived from interest income on securities acquired through open market operations. Federal Reserve Banks generated $275 million in net income from facilities established in response to the COVID-19 pandemic. Operating expenses of Central Banks totaled $5.3 billion in 2021, excluding amounts reimbursed by other entities for services rendered by the U.S. Treasury and regional Federal Reserve Banks as financial intermediaries. Additional earnings came from revenue from services of $457 million. Statutory dividends amounted to $583 million in 2021.
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