Purchase of Fannie/Freddie Discount Notes
Data File:
Date:
September 19, 2008
Policy Area:
Financial Sector Policy
Economic Target:
Government and GSEs
Action Type:
Equity Purchase
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.