For the Federal Reserve, the largest liability on its balance sheet is:

Name: For the Federal Reserve, the largest liability on its balance sheet is:
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The largest liability on the Federal Reserve's balance sheet is currency. This is because the Federal Reserve is responsible for issuing and maintaining the supply of U.S. currency in circulation. As such, the Federal Reserve holds a substantial amount of currency on its balance sheet as a liability.

For the Federal Reserve, the Largest Liability on Its Balance