March 22, 2007 / 8:33 PM / 13 years ago

Foreign cenbanks net buyers of US debt - Fed

NEW YORK, March 22 (Reuters) - Foreign central banks were net sellers of U.S. Treasuries last week, but higher purchases of U.S. agency debt led to a rise in their overall holdings of U.S. securities, Federal Reserve data showed on Thursday.

The Fed said its holdings of Treasury and agency debt kept for overseas central banks rose $10.79 billion in the week ended March 21, to stand at a total of $1.882 trillion.

The breakdown of custody holdings showed overseas central banks sold $798 million in Treasury debt to stand at a total $1.216 trillion.

The foreign institutions bought securities from government-sponsored agencies like Fannie Mae FNM.N and Freddie Mac FRE.N, adding $11.58 billion to their holdings, to stand at a total $665.46 billion.

Overseas central banks, particularly those in Asia, have been huge buyers of U.S. debt in recent years, and own over a quarter of marketable Treasuries.

The full Fed report can be found on:

here

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