Regulatory Reform

Share RSS

Reserve Bank Operating Expenses

Additional information regarding Reserve Bank operating expenses is available each year in the Annual Report of the Board of Governors of Federal Reserve System at https://www.federalreserve.gov/publications/annual-report.htm. The following tables provide supplemental information on Reserve Bank expenses that are subject to budgetary control by the Reserve Banks.

Table 1: Operating expenses of the Federal Reserve Banks, by Bank, 2012 - 2017

Millions of dollars

  2012 actual 2013 actual 2014 actual 2015 actual 2016 actual 2017 budget 2012 actual - 2017 budget CAGR*
Boston $181 $199 $221 $227 $230 $230 5.0%
New York 875 883 890 918 948 992 2.5%
Philadelphia 178 195 198 196 186 191 1.5%
Cleveland 152 156 163 170 176 197 5.3%
Richmond 356 360 357 360 351 451 4.8%
Atlanta 306 307 339 314 344 407 5.9%
Chicago 306 320 335 354 373 383 4.6%
St. Louis 234 253 283 321 364 399 11.3%
Minneapolis 173 181 191 199 196 165 -0.9%
Kansas City 194 207 219 245 269 285 8.0%
Dallas 208 207 212 219 228 229 2.0%
San Francisco 300 323 346 350 368 382 5.0%
Total Reserve Bank operating expenses $3,462 $3,592 $3,752 $3,875 $4,032 $4,312 4.5%

* Compound Annual Growth Rate (CAGR). Return to text

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

Note: Includes expenses of the Federal Reserve Information Technology (FRIT) support function and the Office of Employee Benefits (OEB), and reflects all redistributions for support and allocation of overhead. Excludes capital outlays and assessments for Board of Governors operating expenses and currency costs, and operating expenses of the Consumer Financial Protection Bureau (CFPB).

 

Table 2: Operating expenses of the Federal Reserve Banks, by operating area, 2012 - 2017

Millions of dollars

  2012 actual 2013 actual 2014 actual 2015 actual 2016 actual 2017 budget 2012 actual - 2017 budget CAGR*
Monetary and economic policy $563 $596 $609 $632 $655 $698 4.4%
Services to the U.S. Treasury and other government agencies 477 501 532 551 570 626 5.6%
Services to financial institutions and the public 977 1,003 1,033 1,051 1,089 1,151 3.3%
Supervision and regulation 1,057 1,119 1,169 1,252 1,310 1,390 5.6%
Fee-based services to financial institutions 387 372 410 390 408 448 3.0%
Total Reserve Bank operating expenses $3,462 $3,592 $3,752 $3,875 $4,032 $4,312 4.5%

* Compound Annual Growth Rate (CAGR). Return to text

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

Note: Includes expenses of the FRIT support function and the OEB, and reflects all redistributions for support and allocation of overhead. Excludes capital outlays and assessments for Board of Governors operating expenses and currency costs, and operating expenses of the CFPB.

 

Table 3: Operating expenses of the Federal Reserve Banks, by account classification, 2012 - 2017

Millions of dollars

  2012 actual 2013 actual 2014 actual 2015 actual 2016 actual 2017 budget 2012 actual - 2017 budget CAGR*
Salaries $ 1,641 $ 1,739 $ 1,825 $ 1,930 $ 2,046 $ 2,196 6.0%
Other personnel expenses 254 290 305 298 293 287 2.5%
Retirement and other expenses 595 642 654 684 698 756 4.9%
Taxes on real estate 47 48 48 51 51 54 3.0%
Property depreciation 134 133 133 140 143 141 1.0%
Utilities 39 39 40 39 37 39 0.1%
Rent 36 37 33 35 33 34 -1.2%
Other building expenses 61 59 61 64 65 63 0.5%
Equipment 193 169 178 182 175 189 -0.4%
Software expenses 173 183 227 206 227 251 7.7%
Travel expenses 100 88 89 94 95 96 -0.8%
Material, forms, and supplies 70 67 64 65 69 75 1.6%
Fees 200 203 207 219 231 246 4.3%
Communications 48 47 46 46 42 44 -1.5%
Shipping 15 15 14 14 13 15 -0.5%
Other expenses 86 86 97 90 86 104 3.9%
Recoveries (156) (163) (177) (183) (185) (183) 3.3%
Expenses allocated to capital projects (73) (91) (94) (97) (88) (93) 5.1%
Total Reserve Bank operating expenses $ 3,462 $ 3,592 $ 3,752 $ 3,875 $ 4,032 $ 4,312 4.5%

* Compound Annual Growth Rate (CAGR). Return to text

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

 

Back to Top
Last Update: June 28, 2017