Comparative Financial Statements

Statement of Income
(in millions)

 

 For the year ended:
 

 December 31,
1997

December 31,
1996
                                                                                                                         
Interest income:
       Interest on U.S. government securities
       Interest on foreign currencies

$1,668
24

$1,382 
29 

                                                                                                                         
 Total interest income

1,692

1,411 

                                                                                                                         
 Other operating income (loss):
       Income from services
       Reimbursable services to government agencies
       Foreign currency losses, net
       Government securities gains, net
       Other income  


50
24
(165)
1
1


50 
23 
(109) 

                                                                                                                         
 Total other operating loss

(89)

(33) 

                                                                                                                         
 Operating expenses:
       Salaries and other benefits
       Occupancy expense
       Equipment expense
       Cost of unreimbursed Treasury services
       Assessments by Board of Governors
       Other expenses

 
69
11
10
1
36
56


68 
 8 


34 
43 

                                                                                                                          
 Total operating expenses

183

164 

                                                                                                                         
                                                                                                                          
 Net income prior to distribution

$1,420

$1,214 

                                                                                                                          
 Distribution of net income:
       Dividends paid to member banks
       Transferred to surplus
       Payments to U.S. Treasury as interest
           on Federal Reserve notes
       Payments to U.S. Treasury as required by statute


$  19
57

0
1,344


$  16 
33 

854 
311 

                                                                                                                          
 Total distribution

$1,420

$1,214 

                                                                                                                          

 

Statement of Changes in Capital
(in millions)

 

 Capital Paid
In



Surplus


Total Capital
                                                                                                                           
 Balance at January 1, 1996 (5,175,336 shares)

     Net income transferred to surplus
     Statutory surplus transfer to the U.S. Treasury
     Net change in capital stock issued (674,545 shares)

 $259



33

$259

33
(6)

 $518 

33 
(6) 
33 

                                                                                                                          
 Balance at December 31, 1996 (5,849,881 shares)

      Net income transferred to surplus
      Statutory surplus transfer to the U.S. Treasury
      Net change in capital stock issued (1,132,457 shares)

$292



57

$286

57
(7)

$578 

57 
(7) 
57 

 
 Balance at December 31, 1997 (6,982,338 shares)

$349 

 $336

 $685