Fed profits leap by 50%

US dollar plane

The Federal Reserve saw a $17.9 billion increase in profit at the end of last year, taking its total profit to $53.4 billion, according to statements published Wednesday.

The Fed transferred a record $47.4 billion of the year's profit to the US Treasury, as is required by US law, representing a 50% rise on the amount it sent in 2008. The difference between what it transferred and what it made reflected $1.43 billion-worth of dividends paid to member banks and $4.56 billion transferred to surplus

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