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Fed balance sheet shrinks in the latest week
February 28, 2013 / 9:37 PM / in 5 years

Fed balance sheet shrinks in the latest week

NEW YORK (Reuters) - The Federal Reserve’s balance sheet shrank in the latest week with reduced holdings of federal agency debt and mortgage-backed securities, Fed data released on Thursday showed.

A view shows an eagle sculpture on Federal Reserve building, on the day it will release minutes of Federal Open Market Committee from August 1, 2012, in Washington August 22, 2012. REUTERS/Larry Downing

The Fed’s balance sheet, a broad gauge of its lending to the financial system, stood at $3.072 trillion on February 27, compared with a record large $3.077 trillion on February 20.

The Fed’s ownership of mortgage bonds guaranteed by Fannie Mae FNMA.OB, Freddie Mac FMCC.OB and the Government National Mortgage Association (Ginnie Mae) totaled $1.016 trillion compared with $1.033 trillion the previous week.

The Fed’s holdings of debt issued by Fannie Mae, Freddie Mac and the Federal Home Loan Bank system was $73.59 billion, down from $74.61 billion the previous week.

The Fed’s holdings of Treasuries totaled $1.750 trillion as of Wednesday versus $1.736 trillion the previous week.

The Fed’s overnight direct loans to credit-worthy banks via its discount window averaged $3 million a day compared with an average of $8 million per day the prior week.

Reporting by Chris Reese; Editing by Chizu Nomiyama

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