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

Fri Nov 6, 2009 11:12am EST

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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) (FNM.P), Freddie Mac (FRE.N) (FRE.P) 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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