Fed pays $88bn in profits to US Treasury

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The Federal Reserve's remittances to the US Treasury increased in 2012 to $88.4 billion, according to the Fed's annual financial statements, published on March 15.

The majority of the income – $80.5 billion – was derived from interest on the Fed's substantial securities holdings, which rose rapidly during the year, boosted by a third round of quantitative easing (QE), launched in September. Holdings of Treasury securities rose by $58.9 billion, while holdings of agency mortgage-backed securities

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