NY Fed Reports Smaller Unrealized Bond Losses for 2025
The New York Fed reported that unrealized losses on its bond holdings fell to $844.2 billion in 2025. Officials say these paper losses do not impact operations.
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The Federal Reserve Bank of New York reported on Monday that the United States central bank experienced a reduction in unrealized losses on its massive bond portfolio last year. According to the annual report for the System Open Market Account (SOMA), the paper loss on 2025 holdings was $844.2 billion, down from the $1.06 trillion loss recorded in 2024. These figures represent the fluctuating market value of the Fed's stockpile of Treasury and mortgage-backed securities, which is influenced by shifting interest rates.
unrealized gains and losses have no effect on net income or remittances to the Treasury or on the ability of the Federal Reserve to conduct monetary policy.











