Fed to buy $47 bln of Treasuries in Nov, sell $37 bln
NEW YORK Oct 31 (Reuters) - The Federal Reserve will buy about $47 billion of Treasuries in 16 operations in November and will sell about $37 billion of Treasuries in five operations, the New York Fed said on its website on Wednesday.
The operations are part of a continuation of the Fed's "Operation Twist" stimulus effort, which extends the maturity of the U.S. central bank's holdings of Treasury debt in a bid to lower mortgage rates and other long-term borrowing costs.
The purchase amount for November includes about $2 billion from a purchase operation on Oct. 30 which was postponed after storm Sandy ravaged the U.S. east coast.
The Fed will also redeem about $100 million in Treasury securities in November, the New York Fed added.