Agence France-PresseMarch 14, 2014 15:34
The Federal Reserve said Friday its balance sheet swelled to $4.0 trillion at the end of 2013 as it made massive asset purchases to support the US economy.
The Fed, in a report of its 2013 financial results, said net assets increased by $1.1 trillion compared with its balance on December 31, 2012.
It paid net profit of $79.6 billion to the US Treasury. By law, the non-profit central bank is required to turn over any profit in excess of operating and other expenses to the government.