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WASHINGTON — The Federal Reserve said Tuesday that it transferred $76.9 billion in profits to the Treasury Department last year, slightly less than its 2010 transfer but much more than in any other previous year.
The Fed is required by law to transfer its profits to the Treasury each year, a provision that has become increasingly lucrative as a byproduct of the central bank’s ongoing campaign to stimulate economic growth.
Almost 97 percent of the Fed’s income was generated by interest payments on its $2.5 trillion in holdings of Treasury securities and mortgage-backed securities.
