Federal Reserve made $14 billion on turmoil loans: report

http://networkedblogs.com/p10429096?ref=nf#

LONDON (Reuters) - The Federal Reserve has made $14 billion in profits on loans made in the last two years, The Financial Times reported on Monday, citing officials close to the matter.

The U.S. central bank also earned about $19 billion from interest and fees charged to institutions that tapped liquidity facilities during the global financial crisis, the report said.

If the Fed had invested the same amounted loaned out in three-month Treasury bills since August 2007, it would have earned $5 billion in interest, the FT said.

This estimate excludes company bailouts and purchases of long-term assets as well as unrealized gains or losses on the Fed's portfolio of mortgage-backed securities and Treasuries purchased as part of the $1.75 trillion asset purchase program.

The Fed was not immediately available for comment on the report.

Original article here:
http://www.reuters.com/article/newsOne/idUSTRE57U0BF20090831

About

Andrew McGivern is a natural health advocate, blogger, podcaster and social media marketer. Andrew has a strong belief and passion for the natural health industry, green energy and technology. Andrew has an optimistic view of the future, believing that technological change has the potential to solve
all human problems. Technology is a double edged sword. It can be used to save us or to destroy us. We get to choose.

Personal interests include hiking, reading, camping, swimming, computers and technology, social media / marketing, podcasting, blogging, website design,
networking, green energy, travel, community events and entrepreneurship.

Andrew earned a diploma in Business Administration and Commerce at Douglas college and completed a Bachelors Degree in Economics at Simon Fraser University. With a keen interest in technology, Andrew pursued a long term career in the wireless communications industry at TAC Mobility,
Western Canada's largest TELUS Mobility dealership.

In 2006, Andrew co-founded Omira Health Centers Inc., a natural therapies clinic in North Vancouver. Omira Health Centers was an alternative health centre focussing on prevention and collaborative care for people pursuing
wellness and dealing with chronic illness. Omira Health Centers promoted naturopathic medicine, hyperbaric oxygen therapy, orthomolecular medicine, traditional chinese medicine, massage therapy and natural alternatives to allopathic treatments.

Omira Health Centers ceased operations in 2008 but Andrew continues to be active in the natural health field.

Andrew is currently utilizing social media to promote online content and create online communities.

Podcasts:

Foods are NOT Drugs:
Health Empowerment News with Croft Woodruff

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