Notice is a historical project of the Committee for a Responsible Federal Budget, which tracked the money spent by the 2009 stimulus bill. This site is not regularly updated.

Purchase of Fannie/Freddie Discount Notes

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.


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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