January 10, 2018 / 4:02 PM / 10 days ago

Fed 2017 profit payments to Treasury fall to $80.2 billion

WASHINGTON, Jan 10 (Reuters) - The U.S. Federal Reserve said on Wednesday that its remittances to the U.S. Treasury for 2017 are expected to fall to $80.2 billion in part because of a rise in the interest paid by the central bank to financial institutions.

In its preliminary estimate of its 2017 results, the Fed also said the interest paid by the Fed to major banks last year rose to $13.8 billion.

For 2016, the Fed sent $91.5 billion to the Treasury Department. The Fed regularly transfers its profits, known as remittances, to the Treasury in what amounts to payments to U.S. taxpayers. (Reporting by Lindsay Dunsmuir Editing by Chizu Nomiyama)

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