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Exhibit 810

Federal Reserve Banks Combined Financial Statements as of and for the years ended December 31, 2025 and 2024

Exhibit 810 ยท Audit report

Federal Reserve Banks Combined Financial Statements as of and for the years ended December 31, 2025 and 2024

The deferred asset is the amount of net excess earnings the Reserve Banks will need to realize in the future before remittances to the Treasury resume

Deferred asset $243,481 million at 31 December 2025 and $215,955 million at 31 December 2024. Net loss before remittances $18,761 million (2025) and $77,621 million (2024). Dividends on capital stock $1,688 million (2025) and $1,623 million (2024). Note 3o: member banks subscribe 6 percent of capital and surplus, half paid in; shares may not be transferred or hypothecated; a member bank "is liable for Reserve Bank liabilities up to twice the par value of stock subscribed by it"; dividend threshold $12.8 billion (2025) and $12.5 billion (2024); dividend paid semiannually and cumulative.

Source
Board of Governors of the Federal Reserve System
Date
Issued March 2026
Quoted from
Note 3 (earnings remittances), paragraph 2
Grade
Primary record
Document
https://www.federalreserve.gov/aboutthefed/files/combinedfinstmt2025.pdf
Accessed
2026-11-09
Cited by
Findings citing this exhibit

Cited by

Finding POL-8.3
Primary record A member bank must subscribe Reserve Bank stock equal to 6 percent of its paid-up capital and surplus, half paid in, and may not transfer or pledge it. Since 1 January 2016 a member bank above an inflation-adjusted $10 billion in assets (the Fed reports $12.8 billion for 2025) receives a cumulative dividend of the lesser of 6 percent and the 10-year Treasury high yield, and smaller banks receive 6 percent.
Finding POL-8.16
Primary record In September 2022 most Reserve Banks suspended remittances to the Treasury and began a deferred asset, which was $243.5 billion on 31 December 2025 and $235.5 billion on 30 June 2026. The Reserve Banks paid dividends on member-bank stock throughout: $1.5 billion in 2023, $1.623 billion in 2024 and $1.688 billion in 2025.