H41: Change to H.4.1 to reflect the passage of the “Bipartisan Budget Bill of 2018”
The Board’s H.4.1 statistical release, “Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks,” has been modified to reflect the policies under which Federal Reserve Banks make payments of their residual net earnings to the U.S. Treasury. The “Bipartisan Budget Act of 2018” (“Budget Act”), which was enacted on February 9, 2018, requires that aggregate Federal Reserve Bank capital surplus not exceed $7.5 billion. Therefore, any amount of aggregate Federal Reserve Bank capital surplus that exceeds this limit will be remitted to the U.S. Treasury. The amounts of the line items “Other liabilities and capital” on table 1, and “Surplus” on tables 5 and 6 reflect the lump-sum payment of approximately $2.5 billion to the Treasury on February 22, 2018, which was necessary to reduce aggregate Reserve Bank capital surplus to the $7.5 billion limitation in the Budget Act.
The Board’s H.4.1 statistical release, “Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks,” has been modified to reflect the policies under which Federal Reserve Banks make payments of their residual net earnings to the U.S. Treasury. The “Bipartisan Budget Act of 2018” (“Budget Act”), which was enacted on February 9, 2018, requires that aggregate Federal Reserve Bank capital surplus not exceed $7.5 billion. Therefore, any amount of aggregate Federal Reserve Bank capital surplus that exceeds this limit will be remitted to the U.S. Treasury. The amounts of the line items “Other liabilities and capital” on table 1, and “Surplus” on tables 5 and 6 reflect the lump-sum payment of approximately $2.5 billion to the Treasury on February 22, 2018, which was necessary to reduce aggregate Reserve Bank capital surplus to the $7.5 billion limitation in the Budget Act.
