Income and Expenses

Earnings	12/31/95	12/31/94
Interest on loans to depository institutions	$ 2,206	$ 2,163
Interest on government securities	1,040,741	737,666
Earnings on foreign currency	17,980	19,592
Revenue from priced services	32,433	31,044
All other income	250	173
Total Current Income	$ 1,093,610	$790,638
Current Expenses	12/31/95	12/31/94
Current operating expenses	$ 87,470	$ 88,200
Less reimbursables	(9,189)	(11,156)
Current net operating expenses	$ 78,281	$ 77,044
Cost of earnings credits	6,860	4,865
Current net expenses	$ 85,141	$ 81,909
Current net income	$1,008,469	$708,729
Profit and Loss	12/31/95	12/31/94
Additions to current net income:
Profit on sale of government securities (net)	$ 2,308	$ 0
Profit on foreign exchange transactions (net)	23,123	52,906
All other additions	1	0
Total Additions	$ 25,432	$ 52,906
Deductions from current net income:
Loss on sale of government securities (net)	$ 1,918	$ 988
Loss on foreign exchange transactions (net)	0	0
All other deductions	$ 4,069	$ 7
Total Deductions	$ 5,987	$ 995
Net additions or deductions	19,445	51,911
Cost of unreimbursed Treasury service	(2,114)	(1,821)
Assessment by Board of Governors:
Expenditures	(3,730)	(3,224)
Federal Reserve currency costs	(18,660)	(14,994)
Net Income Available for Distribution	$ 1,003,410	$740,601
Distribution of Net Income	12/31/95	12/31/94
Dividends paid	$ (5,344)	$ (4,765)
Payment to the U.S. Treasury
(interest on Federal Reserve notes)	(984,871)	(725,338)
Transferred to surplus	13,195	10,498
Surplus, January 1	$ 84,775	$ 74,277
Surplus, December 31	$ 97,970	$ 84,775