Data: Deutsche Bank Securities; Chart: Axios Visuals
Provided the Fed doesn't raise interest rates again this year, as expected, they will be paying $46 billion in interest payments on bank's reserve balances.
The big picture: The reserve payments are a major part of the way the Fed sets U.S. overnight interest rates, and the payments have grown as the Fed has started to raise interest rates above zero.
Go deeper: The New York Fed's "Federal Funds and Interest on Reserves"
