August 21, 2012 / 3:07 PM / 5 years ago

US Fed sells $7.799 bln of shorter-dated Treasuries

NEW YORK, Aug 21 (Reuters) - The Federal Reserve on Tuesday sold $7.799 billion of Treasuries with maturities ranging from October 2014 through April 2015, the New York Fed said on its Web site.

Dealers submitted a total of $38.654 billion of bids in the sale, the New York Fed said.

The sale was part of the Fed's latest stimulus program, dubbed "Operation Twist" -- a 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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