The united states treasury prints and mints money, not the FRB. Regardless it's silly to think that a bank like citibank or chase manhatten that own more than 5% of multiple Federal Reserve banks are not getting a cut of the seigniorage. They don't have to actually have to manufacture the money if they are getting a better deal on the money than everyone else.
I’m not sure why a direct link isn’t working.
http://research.stlouisfed.org/publications/review/92/03/Seigniorage_Mar_Apr1992.pdf
You claimed they did it (Profits coming through the privileged money creation process mainly occurs at the member bank level of operation), not the FRB, and it was the majority of their earnings. Total bank dividends last year were $1.6 billion. A tiny fraction of bank earnings. And a far cry from "Educated estimates put this between $100-200 billion per year".
And banks would get that even if the Fed never put a new FRB into circulation ever again.
They don't have to actually have to manufacture the money if they are getting a better deal on the money than everyone else.
Really? What deal are they getting?