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NY Fed says to buy U.S. agency notes on Wednesday

Tue Oct 27, 2009 11:32am EDT

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NEW YORK, Oct 27 (Reuters) - The New York Federal Reserve said on Tuesday it will buy agency coupon securities maturing between November 2011 and October 2013 in an open market operation on Wedmesday.

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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.

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(Reporting by Lynn Adler)

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