Fed's operating loss exceeds $100 billion

The U.S. Federal Reserve (Fed) reported that its total expenses exceeded its earnings by $114.3 billion in 2023.

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Fed's operating loss exceeds $100 billion

The Fed has released its audited annual financial statement for the past year. According to the statement from the bank, the Fed's total expenses in 2023 exceeded its earnings by $114.3 billion.

Thus, the bank recorded its largest operating loss to date.

While interest expenses on reserve balances of depository institutions rose to $176.8 billion last year, interest expenses related to repo operations amounted to $104.3 billion.

The interest income the bank earned from its asset portfolio decreased by $6.2 billion in 2023 compared to the previous year, falling to $163.8 billion.

News Source: 12punto

Fed's operating loss exceeds $100 billion

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