But this is good . . .just ask #blueanon
Sorry, we're going to miss our payment again . . . sorry Treasury, but you can record the IOU as a deferred asset
“In the unlikely scenario in which realized losses were sufficiently large enough to result in an overall net income loss for the Reserve Banks, the Federal Reserve would still meet its financial obligations to cover operating expenses. In that case, remittances to the Treasury would be suspended and a deferred asset would be recorded on the Federal Reserve’s balance sheet.”
The Federal Reserve Act States:
“The shareholders of every Federal reserve bank shall be held individually responsible, equally and ratably, and not one for another, for all contracts, debts, and engagements of such bank to the extent of the amount subscriptions to such stock at the par value thereof in addition to the amount subscribed.”
https://twitter.com/RealEJAntoni/status/1841945500502929701