Federal Reserve Board's Annual Financial Statements Released

The Federal Reserve Board has released the 2022 combined annual audited financial statements for the Reserve Banks, which were found to be free of material misstatements. The audited financial statements provide information about the assets, liabilities, and earnings of the Federal Reserve Banks, the Board, and the LLCs as of December 31, 2022. The Reserve Banks transferred $76.0 billion from weekly earnings as compared to $109 billion in 2021, and in the fall, they first suspended weekly remittances to the Treasury and began accumulating a deferred asset, which totaled $16.6 billion by the end of the year.