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NY Fed says to buy US agency notes due 2016-2032

Mon Nov 16, 2009 11:13am EST

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NEW YORK, Nov 16 (Reuters) - The New York Federal Reserve on Monday said it will buy U.S. agency coupon securities maturing between June 2016 and July 2032 in an open market operation on Tuesday.

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The New York Fed, which conducts such operations for the Federal Reserve, 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.

For details see:here (Reporting by Lynn Adler; Editing by Theodore d'Afflisio)

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