(MENAFN) The Federal Reserve said it had paid a record USD98.7 billion in profits to the Treasury in 2014, most of it earned from its stimulus for the US economy, The Peninsula Qatar reported.
Under Fed policy, its 12 regional banks must pay to the federal government what is left of earnings after certain items, such as operating expenses and dividend payments, are deducted.
Most of the income came from USD115.9 billion in interest generated by financial assets it held, including Treasury bonds and mortgage-backed securities.
The collapse of Lehman Brothers in September that year triggered the financial crisis that spurred the Fed into a bond-purchase program, or quantitative easing (QE), pumping cash into the stricken economy.
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