The Fed Balance Sheet: What Is Uncle Sam's Largest Asset? By Doug Short June 8, 2012 (Note from dshort: I've updated the quiz based on yesterday's (Thursdays) Q1 Flow of Funds release. Hint: The correct answer is the same, just more incredible.) -------------------------------------------------------------------------------- Pop Quiz! Without recourse to your text, your notes or a Google search, what line item is the largest asset on Uncle Sam's balance sheet? A) U.S. Official Reserve Assets B) Total Mortgages C) Taxes Receivable D) Student Loans The correct answer, as of the latest Flow of Funds report for Q1 2012, is ... Student Loans....