I just noticed this. The Federal Reserve has a line item on their balance sheet called "Unamortized premiums on securities held outright". What is this? "Basically, the Fed has been consistently buying large amounts of bonds via QE at a price above their face value. This premium gets added to the unamortized premium category."
How much is it? 208,882. That's $209 billion. The Fed paid $209 billion more than the face value of bonds. (Their total capital is only $55 billion). Wow. What if they had to sell some bonds in a hurry? They wouldn't be receiving a premium, that's for sure.
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