Fed to buy about $45 bln of longer-dated Treasuries in Jan

NEW YORK Mon Dec 31, 2012 1:11pm EST

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NEW YORK Dec 31 (Reuters) - The Federal Reserve plans to buy about $45 billion of longer-dated Treasuries in 18 operations through January as part of its latest economic stimulus efforts, the New York Fed said on Monday on its website.

The Treasuries purchase program kicks in following the expiry this month of the central bank's "Operation Twist" program, under which it sold shorter-dated Treasuries and used the proceeds to buy longer-dated debt in an effort to lower long-term borrowing costs like those on mortgages.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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