Low level constant-load tensile creep measurements and bend stress relaxation measurements were made on the metallic glasses Fe 40Ni 40B 20 and Fe 32Ni 36Cr 14P 12B 6 at various temperatures. The anelastic (recoverable) and viscoplastic (non-recoverable) components of flow were separated using pre-annealing treatments of various lengths of time, and multiple stress reversals for bend stress relaxation. The influence of the structural relaxation on the anelasticity was studied by continuous measurements of apparent viscosity. It was found that, while viscoplastic deformation drastically decreases with annealing, the anelastic behavior is only weakly affected. The viscosity versus time curves for pre-annealed samples are shifted on the time axis with respect to those for as-quenched samples. The relaxation rates calculated from the final stages of stress relaxation are higher than those estimated for pre-annealing periods. All these findings strongly imply that the spectrum of activation energies for anelastic relaxation is very broad and little affected by thermal treatments.