United States Federal Reserve Chairman Ben Bernanke has his holdings in treasuries and annuities. - Reuters

Federal Reserve Chairman Ben Bernanke has a complex job manning the world's largest economy, but when it comes to his own finances he keeps it pretty simple.

The chairman's financial disclosure form, released Tuesday, showed that Bernanke is a millionaire, with holdings last year in no-frills investments, including U.S. Treasury securities, mutual funds and annuities.

Bernanke, 53, took over the central bank in February 2006, succeeding long-time chairman Alan Greenspan, who also played it safe when it came to his own investments while at the Fed.

An economist who spent most of his career in academia, including teaching at Princeton, Bernanke also is receiving royalties on two textbooks he wrote. Royalty income was listed between US$50,001 (€36,478) and US$100,000 (€72,955) for each textbook, the document showed.

The Fed chief's largest assets last year were two annuities - TIAA Traditional and CREF Stock Large Cap Blend, which were each valued at between US$500,001 (€364,778) to US$1 million (€729,554).

The disclosure form asks only for broad ranges for the values of holdings.

The value of his assets last year totaled between US$1.12 million (€820,000) and US$2.41 million (euro1.76 million).

No stocks, bonds

The income from his investments, which includes chequing and savings accounts, came to between US$136,500 (€99,584) and US$318,000 (€231,998). Both the asset and income figures are in line with those reported for 2005.

Bernanke listed no individual stocks or corporate bonds among his holdings last year.

The chairman and other Federal Reserve board members are not allowed to own stock in banking organisations or shares of mutual funds specialising in banking and finance. Other holdings generally are permitted.

The Fed sets interest rate policy in the United States and is responsible for overseeing the nation's banking system to ensure its soundness.

The only liability listed on the form was a 10-year student loan, taken out last year at an interest rate of 7.9 per cent. Bernanke has two children - one son and one daughter.

The disclosure form stated that Bernanke's wife, Anna, collected a salary from the National Cathedral School as well as the Cesar Chavez School - both are in Washington, D.C. The salaries, however, were not listed.

Bernanke's salary last year was US$183,500 (€133,873). This year it rises to US$186,600 (€136,135).

AP