40% Of The Fed’s Interest On Excess Reserves Is Paid To Foreign Banks

40% Of The Fed’s Interest On Excess Reserves Is Paid To Foreign Banks:

Now that Congress is finally scrutinizing the $4.5 trillion elephant in the room, it may be interested to know that approximately 40%, or $838 billion in reserves parked at the Fed belong to foreign banks. This means that the Fed is giving a $10 billion (and rising) annualized subsidy to non-US banks every year.

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