N.Y. Fed says bought $4.79 bln agency debt Friday

NEW YORK, June 19 (Reuters) - The New York Federal Reserve said on Friday it purchased $4.79 billion of agency coupon maturing from June 2010 to June 2011.

This brought its cumulative purchase of these securities to more than $93 billion since early December, or about 47 percent of the amount it pledged to buy.

The New York Fed, which conducts such operations for the Federal Reserve -- the U.S. central bank, has been buying debt issued by housing finance agencies Fannie Mae FNM.N FNM.P, Freddie Mac FRE.N FRE.P and the Federal Home Loan Bank system with the goal of lowering mortgage rates and stabilizing the housing market.

Dealers submitted $7.98 billion of agency debt for consideration in the purchase.

This compares with last week's operation when the N.Y. Fed bought $3.4 billion worth of securities issued by federal mortgage agencies a week ago.

The Fed has committed to buying up to $200 billion of agency debt, in addition to purchasing up to $1.25 trillion of mortgage bonds and $300 billion in U.S. Treasuries.

For details see:here (Reporting by Richard Leong; Editing by James Dalgleish)