N.Y. Fed to buy agency coupon securities Friday
NEW YORK, June 4 (Reuters) - The New York Federal Reserve said on Thursday it will buy agency coupon securities maturing between June 2011 and May 2013 in an open market operation on Friday.
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: Quote, Profile, Research) (FNM.P: Quote, Profile, Research), Freddie Mac (FRE.N: Quote, Profile, Research) (FRE.P: Quote, Profile, Research) 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 James Dalgleish)
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