The Board of Governors and the Federal Reserve Banks annually prepare and release audited financial statements reflecting balances (as of December 31) and income and expenses for the year then ended. The Federal Reserve Bank financial statements also include the accounts and results of operations of one limited liability company (LLC) that has been consolidated with the Federal Reserve Bank of New York.
The Board also prepares quarterly financial reports that present summary financial information on the combined financial position and results of operations of the Reserve Banks. The combined information includes the accounts and results of operations of each of the 12 Reserve Banks and one consolidated variable interest entity. All financial information included in the quarterly financial report is unaudited.