March 30, 2012 / 3:51 PM / 6 years ago

Fed buys $2.085 billion in Treasuries

NEW YORK (Reuters) - The Federal Reserve on Friday bought $2.085 billion in Treasuries with maturities ranging from February 15, 2036 to February 15, 2042.

A total of $5.949 billion of Treasuries were submitted, the New York Fed said.

The purchases were was part of the Fed’s latest stimulus program, dubbed “Operation Twist” -- a $400 billion program that extends the maturity of the central bank’s Treasuries holdings in a bid to lower mortgage rates and other long-term borrowing costs.

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Reporting by Ellen Freilich; Editing by Chizu Nomiyama

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