Quarterly Report on Federal Reserve
Balance Sheet Developments

Federal Reserve Banks’ Quarterly Financial Information

The Federal Reserve publishes quarterly 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 variable interest entities. All financial information included in the financial reports is unaudited. Quarterly financial reports for the third quarter of 2012 are available on the Federal Reserve Board's website at www.federalreserve.gov/monetarypolicy/bst_fedfinancials.htm#quarterly.

Quarterly Developments

• On November 29, 2012, the Federal Reserve Board published the "Federal Reserve Banks Combined Quarterly Financial Report" for the third quarter of 2012, which includes summary information on the combined financial position and results of operations of the 12 Reserve Banks and several consolidated variable interest entities. All financial information included in the report is unaudited. The report is 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 $2.7 trillion during the first three quarters of 2012. Net earnings from the portfolio were approximately $69.3 billion, including net gains of $8.6 billion; most of the earnings were attributable to interest income on Treasury securities and federal agency and GSE MBS.
• Interest earned from Federal Reserve lending programs was approximately $76 million during the first three quarters of 2012; interest earned on loans made by the TALF accounted for most of the total.
• Net income for Maiden Lane, Maiden Lane II, and Maiden Lane III was approximately $0.5 billion, $1.2 billion, and $4.3 billion, respectively, during the first three quarters of 2012.
• After providing for the payment of dividends and reserving an amount necessary to equate surplus with capital paid in, distributions to the Treasury as interest on Federal Reserve notes totaled $67.7 billion during the first three quarters of 2012.

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