April 23, 2009 / 3:12 PM / 10 years ago

U.S. Fed buys $7 bln of Treasuries on Thursday

NEW YORK, April 23 (Reuters) - The Federal Reserve bought $7 billion of Treasuries maturing between May 2012 and August 2013 on Thursday, the New York Fed said on its Website.

Dealers submitted $15.99 billion for consideration in the purchase. The Fed made its heaviest purchases in Treasuries maturing in May 2013 and June 2012, respectively.

The Fed said at its last meeting it intends to buy $300 billion in Treasury securities over six months in a bid to lower long-term borrowing costs and revive economic growth.

For more details on the purchases, please see: here (Reporting by Chris Reese; Editing by James Dalgleish)

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