The Federal Reserve Board yesterday said its banks “provided for payments of approximately $46.1 billion of their estimated 2009 net income of $52.1 billion to the U.S. Treasury.”
“Reserve Banks are required to transfer their net income to the U.S. Treasury after providing for the payment of statutory dividends to member banks and equating surplus to paid-in capital,” the Fed said in a statement.
“In 2009, statutory dividends totaled $1.4 billion and approximately $4.6 billion of earnings were used to equate surplus to paid-in capital.”
The $46.1 billion figure is $14.4 billion more than was turned over in 2008.
