NY Fed says bought $2.714 bln of U.S. agency debt

Fri Nov 6, 2009 4:12pm GMT
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NEW YORK, Nov 6 (Reuters) - The New York Federal Reserve said on Friday it bought $2.714 billion of U.S. agency debt with maturities ranging from November 2013 to April 2016.

Dealers submitted $6.389 billion of agency debt for consideration in the purchase.

Friday's operation brings the N.Y. Fed's cumulative purchase of agency debt to about $149.67 billion since early December.

The N.Y. Fed, which conducts open market operations for the U.S. central bank, has said it would buy about $175 billion of agency securities issued by Fannie Mae (FNM.N: Quote, Profile, Research) (FNM.P: Quote, Profile, Research), Freddie Mac (FRE.N: Quote, Profile, Research) (FRE.P: Quote, Profile, Research) and the Federal Home Loan Bank system aiming to hold down mortgage rates and revive economic growth.

(For more, please see: here) (Reporting by Lynn Adler, Editing by Chizu Nomiyama)

 
 
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