FRB: Annual Report 2007, Statistical Table 11: Income and Expenses of the Federal Reserve Banks, 1914-2006

11. Income and Expenses of the Federal Reserve Banks, 1914-2007
Federal Reserve Bank and period	Current income	Net expenses	Net additions or deductions (-) ¹	Assessments by Board of Governors		Change in funded status of benefit plans	Dividends paid	Payments to U.S. Treasury		Transferred to surplus (section 13b)	Transferred to surplus (section 7)⁵
Thousands of dollars
Federal Reserve Bank and period	Current income	Net expenses	Net additions or deductions (-) ¹	Board expenditures	Costs of currency	Change in funded status of benefit plans	Dividends paid	Statutory transfers²	Interest on Federal Reserve notes	Transferred to surplus (section 13b)	Transferred to surplus (section 7)⁵
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
2007	42,576,025	3,510,206	198,417	296,125	576,306	324,481	992,353	...	34,598,401	...	3,125,533

Total, 1914-2007	753,465,666	58,857,462	4,240,213	5,000,926	9,408,318	324,481	9,731,130	44,113,958	608,526,361	-4	24,392,209 ³
Aggregate for each Bank, 1914-2007
Boston	39,756,660	3,566,677	-77,524	214,794	549,944	3,596	445,359	2,579,504	31,082,719	135	1,243,599
New York	264,885,985	9,049,099 ⁴	665,437	1,242,376	2,904,656	228,568	2,429,684	17,307,161	225,798,033	-433	7,049,415
Philadelphia	28,242,547	2,902,768	281,126	232,919	407,154	4,924	516,216	1,312,118	21,177,901	291	1,979,232
Cleveland	44,376,296	3,441,220	358,964	363,689	538,490	5,345	715,167	2,827,043	35,255,476	-10	1,599,529
Richmond	58,583,264	4,847,517	1,048,500	746,343	776,985	22,519	1,667,095	3,083,928	42,455,863	-72	6,076,623
Atlanta	44,873,400	7,446,218	300,910	375,667	738,885	5,717	695,724	2,713,230	31,464,800	5	1,745,497
Chicago	88,896,622	6,781,169	570,303	542,013	1,061,746	14,711	969,454	4,593,811	74,300,302	12	1,233,130
St. Louis	25,558,056	2,712,204	9,337	118,324	341,279	3,536	218,704	1,833,837	20,042,912	-27	303,695
Minneapolis	13,120,386	2,686,112	129,244	145,784	171,112	10,627	276,350	416,227	9,051,982	65	512,625
Kansas City	26,840,812	3,577,546	71,878	150,184	345,207	3,547	259,149	1,249,703	21,017,971	-9	316,487
Dallas	34,245,323	3,632,776	291,082	222,824	468,457	13,535	367,830	1,510,802	27,815,769	55	531,427
San Francisco	84,086,318	6,214,156	590,956	646,010	1,104,404	7,854	1,170,398	4,686,594	69,062,633	-17	1,800,950
Total	753,465,666	56,857,462	4,240,213	5,000,926	9,408,318	324,481	9,731,130	44,113,958	608,526,361	-4	24,392,209³

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 $24,392,209 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); $1,848,716 thousand related to the implementation of SFAS No. 158 (2006), and leaving a balance of $18,449,821 thousand on December 31, 2007.  Return to table
4. This amount is reduced by $2,815,225 thousand for expenses of the System Retirement Plan. See note 2, table 10.Return to table
5. Beginning in 2006, accumulated other comprehensive income is reported as a component of surplus.Return to table

. . . Not applicable.

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