Well, 25.9 billion to be exact. That is the amount of money the fed pays on excess reserves to banks. I made a short comment on excess reserves here. The full release is below:
The Federal Reserve Board on Wednesday announced preliminary results indicating that the Reserve Banks provided for payments of approximately $80.2 billion of their estimated 2017 net income to the U.S. Treasury. The 2017 audited Reserve Bank financial statements are expected to be published in March and may include adjustments to these preliminary unaudited results.
The Federal Reserve Banks’ 2017 estimated net income of $80.7 billion represents a decrease of $11.7 billion from 2016, primarily attributable to an increase of $13.8 billion in interest expense associated with reserve balances held by depository institutions that was partially offset by an increase of $2.5 billion in interest income on securities acquired through open market operations. Net income for 2017 was derived primarily from $113.6 billion in interest income on securities acquired through open market operations (U.S. Treasury securities, federal agency and government-sponsored enterprise (GSE) mortgage-backed securities (MBS), and GSE debt securities) and foreign currency gains of $1.9 billion that result from the daily revaluation of foreign currency denominated investments at current exchange rates. The Federal Reserve Banks had interest expense of $25.9 billion primarily associated with reserve balances held by depository institutions, and incurred interest expense of $3.4 billion on securities sold under agreement to repurchase.
Operating expenses of the Reserve Banks, net of amounts reimbursed by the U.S. Treasury and other entities for services the Reserve Banks provided as fiscal agents, totaled $4.1 billion in 2017. In addition, the Reserve Banks were assessed $724 million for the costs related to producing, issuing, and retiring currency, $740 million for Board expenditures, and $573 million to fund the operations of the Consumer Financial Protection Bureau. Additional earnings were derived from income from services of $442 million. Statutory dividends totaled $784 million in 2017.