Fed profits soar to record $82 billion
The Federal Reserve on Tuesday revealed a record profit of $82 billion for last year.
The profit, up $28 billion, or 52%, on the figure for 2009, came largely on the back of interest earnings on federal agency and government-sponsored enterprise mortgage-backed securities (MBS) holdings, which amounted to $24 billion.
The Maiden Lane vehicles, which form part of the New York Fed's balance sheet, also accounted for a significant chunk of the profit. Income from the three Maiden Lanes, set up in
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