Greenspan disclosure places holdings as high as $6 million

Most of Fed chief's assets invested in Treasury bills

July 09, 2002|By BLOOMBERG NEWS

WASHINGTON - Federal Reserve Chairman Alan Greenspan's personal financial holdings were valued at $3 million to $6.16 million at the end of last year, according to his annual financial disclosure report.

The bulk of Greenspan's assets, $2.5 million to $5 million, were overseen by CIBC Oppenheimer Corp. and were invested almost entirely in U.S. Treasury bills, the statement showed.

The Fed chairman also held $400,000 to $861,000 in Treasury bills in direct deposit accounts. Greenspan had $102,000 to $280,000 in savings and checking accounts at the Fed's credit union, in a Fidelity Spartan Money Market Account and in a Merrill Lynch Cash Management Account, according to the report.

He reported no holdings of stocks.

Greenspan's assets earned $121,900 to $361,000 in interest income last year.

The Fed chairman reports his wealth in broad ranges. His largest individual holding was a Treasury bill that matured May 23 and was reported to be worth $250,000 to $500,000.

Because holdings are valued broadly, it is impossible to compare year-to-year disclosures directly. In 2000, his holdings were valued at $3.1 million to $9.6 million.

Greenspan's latest disclosure report also contained information on holdings of his wife, NBC correspondent Andrea Mitchell. Mitchell held common stock in 12 companies, led by shares in Abbott Laboratories worth $250,000 to $500,000.

Her salary at NBC wasn't disclosed.

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