Fed remittances due Treasury
Board of Governors of the Federal Reserve System · weekly · 1,243 observations
−$0.4B vs prior week+$9.9B vs a year earlier
Source: Federal Reserve Board. Negative values are the Fed's 'deferred asset': losses it must recoup before remitting profits.
About this series
What it measures
What the Federal Reserve owes the Treasury from its earnings. When the number is negative it is a 'deferred asset': the running total of losses the Fed must earn back before it resumes sending profits to the Treasury.
Why it matters
It shows the cost of the Fed paying more interest on reserves than it earns on its securities, and how long Treasury may go without Fed remittances.
Common misreads
A negative number does not show that the Fed is insolvent or needs new money; it keeps operating normally. A rise toward zero (a positive weekly change) shows the deferred asset shrinking, not remittances restarting.