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N.Y. Fed to buy agency coupon securities Tuesday

Mon Jun 29, 2009 11:28am EDT

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NEW YORK, June 29 (Reuters) - The New York Federal Reserve said on Monday it will buy agency coupon securities maturing from Jan. 2016 to 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 -- the U.S. central bank -- 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 Richard Leong; Editing by Dan Grebler)

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