Economy

Fed payments to banks rise $5.2 billion

By Joseph Lawler
Published January 10, 2017 6:02pm ET
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Fed payments to banks rise $5.2 billion
The central bank sent $92 billion to the Treasury last year, down from $97.7 billion in 2015. (AP Photo/Andrew Harnik, File) | Andrew Harnik

The Federal Reserve paid $12 billion in interest to banks in 2016, the central bank announced Tuesday, cutting into the payments it sent to the Treasury.

The Federal Reserve Board of Governors announced that the central bank sent $92 billion to the Treasury, down from $97.7 billion in 2015.

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Federal Reserve Finance Fiscal Policy Interest Rates Janet Yellen Joseph Lawler Minusextra Monetary Policy Treasury Department