U.S. Fed to buy about $35 billion of Treasuries in February

NEW YORK Fri Jan 31, 2014 3:07pm EST

NEW YORK (Reuters) - The U.S. Federal Reserve plans to purchase about $35 billion in longer-dated Treasuries in 18 operations in February as part of its latest stimulus program, the New York Federal Reserve said on its website on Friday.

The Fed earlier this week announced the second consecutive cut to the size of the stimulus program, under which the U.S. central bank was originally spending $85 billion a month buying Treasuries and mortgage-backed securities.

It first pared that to $75 billion starting in January and on Wednesday announced a further $10 billion cut starting in February, equally divided between Treasuries and mortgage bonds.

(Reporting by Chris Reese)

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