The Federal Reserve Board has released the annual audited financial statements for the Federal Reserve System for the year 2024. The statements, audited by an independent accounting firm, received unqualified opinions, indicating no material misstatements were found according to applicable auditing standards.
The Board made available audited individual and combined statements for the 12 Federal Reserve Banks, the Board itself, and one limited liability company associated with its response to the COVID-19 pandemic. These financial statements detail assets, liabilities, and operations as of December 31, 2024.
As required by the Federal Reserve Act, an annual independent audit of each Reserve Bank’s and the Board’s financial statements was conducted. The Board enlisted KPMG LLP to perform this task in line with relevant standards. KPMG also carried out audits of internal controls over financial reporting for all 12 individual Reserve Banks and the Board.
Beyond these annual audited financial statements, the Board issues a weekly comprehensive balance sheet and quarterly financial reports.
