FRB: Annual Report 2006, Statistical Table 11: Income and Expenses of the Federal Reserve Banks, 1914-2006

11. Income and Expenses of the Federal Reserve Banks, 1914-2006
Thousands of dollars
Federal Reserve Bank and period	Current income	Net expenses	Net additions or deductions (-)¹	Assessments by Board of Governors		Dividends paid	Payments to U.S. Treasury		Transferred to surplus (section 13b)	Transferred to surplus (section 7)
Federal Reserve Bank and period	Current income	Net expenses	Net additions or deductions (-)¹	Board expenditures	Costs of currency	Dividends paid	Statutory transfers²	Interest on Federal Reserve notes	Transferred to surplus (section 13b)	Transferred to surplus (section 7)
All Banks
1914-15	2,173	2,018	6	302	...	217	...	...	...	...
1916	5,218	2,082	-193	192	...	1,743	...	...	...	...
1917	16,128	4,922	-1,387	238	...	6,804	1,134	...	...	1,134
1918	67,584	10,577	-3,909	383	...	5,541	...	...	...	48,334
1919	102,381	18,745	-4,673	595	...	5,012	2,704	...	...	70,652

1920	181,297	27,549	-3,744	710	...	5,654	60,725	...	...	82,916
1921	122,866	33,722	-6,315	741	...	6,120	59,974	...	...	15,993
1922	50,499	28,837	-4,442	723	...	6,307	10,851	...	...	-660
1923	50,709	29,062	-8,233	703	...	6,553	3,613	...	...	2,546
1924	38,340	27,768	-6,191	663	...	6,682	114	...	...	-3,078
1925	41,801	26,819	-4,823	709	...	6,916	59	...	...	2,474
1926	47,600	24,914	-3,638	722	1,714	7,329	818	...	...	8,464
1927	43,024	24,894	-2,457	779	1,845	7,755	250	...	...	5,044
1928	64,053	25,401	-5,026	698	806	8,458	2,585	...	...	21,079
1929	70,955	25,810	-4,862	782	3,099	9,584	4,283	...	...	22,536

1930	36,424	25,358	-93	810	2,176	10,269	17	...	...	-2,298
1931	29,701	24,843	311	719	1,479	10,030	...	...	...	-7,058
1932	50,019	24,457	-1,413	729	1,106	9,282	2,011	...	...	11,021
1933	49,487	25,918	-12,307	800	2,505	8,874	...	...	...	-917
1934	48,903	26,844	-4,430	1,372	1,026	8,782	...	...	-60	6,510
1935	42,752	28,695	-1,737	1,406	1,477	8,505	298	...	28	607
1936	37,901	26,016	486	1,680	2,178	7,830	227	...	103	353
1937	41,233	25,295	-1,631	1,748	1,757	7,941	177	...	67	2,616
1938	36,261	25,557	2,232	1,725	1,630	8,019	120	...	-419	1,862
1939	38,501	25,669	2,390	1,621	1,356	8,110	25	...	-426	4,534

1940	43,538	25,951	11,488	1,704	1,511	8,215	82	...	-54	17,617
1941	41,380	28,536	721	1,840	2,588	8,430	141	...	-4	571
1942	52,663	32,051	-1,568	1,746	4,826	8,669	198	...	50	3,554
1943	69,306	35,794	23,768	2,416	5,336	8,911	245	...	135	40,327
1944	104,392	39,659	3,222	2,296	7,220	9,500	327	...	201	48,410
1945	142,210	41,666	-830	2,341	4,710	10,183	248	...	262	81,970
1946	150,385	50,493	-626	2,260	4,482	10,962	67	...	28	81,467
1947	158,656	58,191	1,973	2,640	4,562	11,523	36	75,284	87	8,366
1948	304,161	64,280	-34,318	3,244	5,186	11,920	...	166,690	...	18,523
1949	316,537	67,931	-12,122	3,243	6,304	12,329	...	193,146	...	21,462

1950	275,839	69,822	36,294	3,434	7,316	13,083	...	196,629	...	21,849
1951	394,656	83,793	-2,128	4,095	7,581	13,865	...	254,874	...	28,321
1952	456,060	92,051	1,584	4,122	8,521	14,682	...	291,935	...	46,334
1953	513,037	98,493	-1,059	4,100	10,922	15,558	...	342,568	...	40,337
1954	438,486	99,068	-134	4,175	6,490	16,442	...	276,289	...	35,888
1955	412,488	101,159	-265	4,194	4,707	17,712	...	251,741	...	32,710
1956	595,649	110,240	-23	5,340	5,603	18,905	...	401,556	...	53,983
1957	763,348	117,932	-7,141	7,508	6,374	20,081	...	542,708	...	61,604
1958	742,068	125,831	124	5,917	5,973	21,197	...	524,059	...	59,215
1959	886,226	131,848	98,247	6,471	6,384	22,722	...	910,650	...	-93,601

1960	1,103,385	139,894	13,875	6,534	7,455	23,948	...	896,816	...	42,613
1961	941,648	148,254	3,482	6,265	6,756	25,570	...	687,393	...	70,892
1962	1,048,508	161,451	-56	6,655	8,030	27,412	...	799,366	...	45,538
1963	1,151,120	169,638	615	7,573	10,063	28,912	...	879,685	...	55,864
1964	1,343,747	171,511	726	8,655	17,230	30,782	...	1,582,119	...	-465,823
1965	1,559,484	172,111	1,022	8,576	23,603	32,352	...	1,296,810	...	27,054
1966	1,908,500	178,212	996	9,022	20,167	33,696	...	1,649,455	...	18,944
1967	2,190,404	190,561	2,094	10,770	18,790	35,027	...	1,907,498	...	29,851
1968	2,764,446	207,678	8,520	14,198	20,474	36,959	...	2,463,629	...	30,027
1969	3,373,361	237,828	-558	15,020	22,126	39,237	...	3,019,161	...	39,432

1970	3,877,218	276,572	11,442	21,228	23,574	41,137	...	3,493,571	...	32,580
1971	3,723,370	319,608	94,266	32,634	24,943	43,488	...	3,356,560	...	40,403
1972	3,792,335	347,917	-49,616	35,234	31,455	46,184	...	3,231,268	...	50,661
1973	5,016,769	416,879	-80,653	44,412	33,826	49,140	...	4,340,680	...	51,178
1974	6,280,091	476,235	-78,487	41,117	30,190	52,580	...	5,549,999	...	51,483
1975	6,257,937	514,359	-202,370	33,577	37,130	54,610	...	5,382,064	...	33,828
1976	6,623,220	558,129	7,311	41,828	48,819	57,351	...	5,870,463	...	53,940
1977	6,891,317	568,851	-177,033	47,366	55,008	60,182	...	5,937,148	...	45,728
1978	8,455,309	592,558	-633,123	53,322	60,059	63,280	...	7,005,779	...	47,268
1979	10,310,148	625,168	-151,148	50,530	68,391	67,194	...	9,278,576	...	69,141

1980	12,802,319	718,033	-115,386	62,231	73,124	70,355	...	11,706,370	...	56,821
1981	15,508,350	814,190	-372,879	63,163	82,924	74,574	...	14,023,723	...	76,897
1982	16,517,385	926,034	-68,833	61,813	98,441	79,352	...	15,204,591	...	78,320
1983	16,068,362	1,023,678	-400,366	71,551	152,135	85,152	...	14,228,816	...	106,663
1984	18,068,821	1,102,444	-412,943	82,116	162,606	92,620	...	16,054,095	...	161,996
1985	18,131,983	1,127,744	1,301,624	77,378	173,739	103,029	...	17,796,464	...	155,253
1986	17,464,528	1,156,868	1,975,893	97,338	180,780	109,588	...	17,803,895	...	91,954
1987	17,633,012	1,146,911	1,796,594	81,870	170,675	117,499	...	17,738,880	...	173,771
1988	19,526,431	1,205,960	-516,910	84,411	164,245	125,616	...	17,364,319	...	64,971
1989	22,249,276	1,332,161	1,254,613	89,580	175,044	129,885	...	21,646,417	...	130,802

1990	23,476,604	1,349,726	2,099,328	103,752	193,007	140,758	...	23,608,398	...	180,292
1991	22,553,002	1,429,322	405,729	109,631	261,316	152,553	...	20,777,552	...	228,356
1992	20,235,028	1,474,531	-987,788	128,955	295,401	171,763	...	16,774,477	...	402,114
1993	18,914,251	1,657,800	-230,268	140,466	355,947	195,422	...	15,986,765	...	347,583
1994	20,910,742	1,795,328	2,363,862	146,866	368,187	212,090	...	20,470,011	...	282,122
1995	25,395,148	1,818,416	857,788	161,348	370,203	230,527	...	23,389,367	...	283,075
1996	25,164,303	1,947,861	-1,676,716	162,642	402,517	255,884	5,517,716	14,565,624	...	635,343
1997	26,917,213	1,976,453	-2,611,570	174,407	364,454	299,652	20,658,972	0	...	831,705
1998	28,149,477	1,833,436	1,906,037	178,009	408,544	343,014	17,785,942	8,774,994	...	731,575
1999	29,346,836	1,852,162	-533,557	213,790	484,959	373,579	...	25,409,736	...	479,053

2000	33,963,992	1,971,688	-1,500,027	188,067	435,838	409,614	...	25,343,892	...	4,114,865
2001	31,870,721	2,084,708	-1,117,435	295,056	338,537	428,183	...	27,089,222	...	517,580
2002	26,760,113	2,227,078	2,149,328	205,111	429,568	483,596	...	24,495,490	...	1,068,598
2003	23,792,725	2,462,658	2,481,127	297,020	508,144	517,705	...	22,021,528	...	466,796
2004	23,539,942	2,238,705	917,870	272,331	503,784	582,402	...	18,078,003	...	2,782,587
2005	30,729,357	2,889,544	-3,576,903	265,742	477,087	780,863	...	21,467,545	...	1,271,672
2006	38,410,427	3,263,844	-158,846	301,014	491,962	871,255	...	29,051,678	...	4,271,828

Total, 1914-2006	710,889,641	53,347,257	4,041,796	4,704,801	8,832,012	8,738,777	44,113,958	573,927,960	-4	21,266,676³

Aggregate for each Bank, 1914-2006
Boston	37,823,486	3,416,852	-48,223	207,260	518,973	410,646	2,579,504	30,051,671	135	590,222
New York	249,731,575	8,384,931⁴	833,624	1,168,193	2,781,090	2,176,006	17,307,161	212,590,458	-433	6,157,793
Philadelphia	26,369,964	2,776,143	112,671	198,455	375,069	407,602	1,312,118	19,437,229	291	1,975,729
Cleveland	42,583,372	3,269,494	297,125	342,922	512,316	649,488	2,827,043	33,884,049	-10	1,395,195
Richmond	54,923,061	4,585,203	691,529	669,078	725,744	1,403,928	3,083,928	39,972,837	-72	5,173,944
Atlanta	40,448,737	6,527,615	290,459	350,725	659,959	617,505	2,713,230	28,273,211	5	1,596,946
Chicago	85,257,610	6,465,618	613,784	525,507	1,005,353	916,679	4,593,811	71,087,653	12	1,276,762
St. Louis	24,240,701	2,597,202	42,722	115,126	321,728	208,306	1,833,837	18,917,298	-27	289,952
Minneapolis	12,223,622	2,549,119	129,352	140,300	156,232	256,828	416,227	8,400,348	65	433,854
Kansas City	25,486,625	3,401,053	103,704	146,764	321,689	248,040	1,249,703	19,924,327	-9	298,763
Dallas	32,411,865	3,448,353	338,948	218,444	437,554	350,811	1,510,802	26,405,056	55	379,737
San Francisco	79,389,024	5,925,674	636,099	622,028	1,016,305	1,092,938	4,686,594	64,983,822	-17	1,697,779

Total	710,889,641	53,347,257	4,041,796	4,704,801	8,832,012	8,738,777	44,113,958	573,927,960	-4	21,266,676³

Note: Components may not sum to totals because of rounding.

1. For 1987 and subsequent years, includes the cost of services provided to the Treasury by Federal Reserve Banks for which reimbursement was not received. Return to table

2. Represents transfers made as a franchise tax from 1917 through 1932; transfers made under section13b of the Federal Reserve Act from 1935 through 1947; and transfers made under section 7 of the Federal Reserve Act for 1996 and 1997. Return to table

3. The $21,266,676 thousand transferred to surplus was reduced by direct charges of $500 thousand for charge-off on Bank premises (1927), $139,300 thousand for contributions to capital of the Federal Deposit Insurance Corporation (1934), $4 thousand net upon elimination of section 13b surplus (1958), and $106,000 thousand (1996), $107,000 thousand (1997), and $3,752,000 thousand (2000) transferred to the Treasury as statutorily required; and was increased by transfer of $11,131 thousand from reserves for contingencies (1955). The implementation of FAS 158 in 2006 required an adjustment to accumulated other comprehensive income of $1,848,716 thousand, which is reported as a component of surplus, leaving a balance of $15,324,288 thousand on December 31, 2006. Return to table

4. This amount is reduced by $2,717,806 thousand for expenses of the System Retirement Plan. See note 2, table 10. Return to table

. . . Not applicable.

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