Quarterly Report on Federal Reserve
Balance Sheet Developments

Federal Reserve Banks' Financial Information

The Federal Reserve publishes annual audited financial statements and quarterly unaudited financial reports presenting summary information on the combined financial position and results of operations of the Reserve Banks. The combined information includes the accounts and results of operations of the 12 Reserve Banks and several consolidated VIEs. Annual audited financial statements are available on the Federal Reserve Board's website at www.federalreserve.gov/monetarypolicy/bst_fedfinancials.htm, and quarterly unaudited financial reports are available at www.federalreserve.gov/monetarypolicy/bst_fedfinancials.htm#quarterly.

Recent Developments

• On March 20, 2015, the Federal Reserve Board released the 2014 annual audited financial statements for the combined Federal Reserve Banks, the 12 individual Reserve Banks, Maiden Lane LLC, and the Board of Governors. The Federal Reserve System financial statements are available on the Federal Reserve Board's website at www.federalreserve.gov/monetarypolicy/bst_fedfinancials.htm#quarterly.
• The average daily balance of the Federal Reserve SOMA holdings was approximately $4.1 trillion during 2014. Net earnings from the portfolio were approximately $113 billion; most of the earnings were attributable to interest income on Treasury securities and federal agency and GSE MBS.
• Total net income for the consolidated VIEs was $110 million during 2014; net income for Maiden Lane LLC accounted for most of the total.
• After providing for the payment of dividends and reserving an amount necessary to equate surplus with capital paid in, the Reserve Banks remitted $96.9 billion to the Treasury during 2014, which is the highest annual level of such remittances.

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