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Purchase of Fannie/Freddie Discount Notes

Date: 
September 19, 2008
Policy Area: 
Economic Target: 
Action Type: 
Amount Spent: 
$57.50 billion

Purchase of short-term debt obligations of Fannie Mae, Freddie Mac and Federal Home Loan. Banks from primary dealers.

Notes: 

Maximum amount limited only by total GSE debt obligations.  Amount spent is purchases reported on the Fed balance sheet as of 3/30/2010.  Activities of the Federal Reserve are not directly recorded in the federal budget.  However, each year the Federal Reserve remits a portion of its earnings to the general treasury.  This remittance is generally in the range of $20-$30 billion per year, but the CBO estimates that the Fed's earnings will be lower by approximately $90 billion over the next ten years.

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