May 14, 2020 / 9:15 PM / 10 days ago

CORRECTED-Fed corporate bond program starts with a fizzle as total assets near $7 trln

(Corrects the number of days of purchases for corporate bonds to one from two in the first paragraph)

May 14 (Reuters) - The Federal Reserve’s stash of bonds and other assets grew to nearly $7 trillion this week, but several of its programs are seeing slackening demand from banks and investors and a much-anticipated corporate bond buying facility bought little in its first day of operation.

The Fed’s weekly report of holdings inside its massive balance sheet showed total assets rose by $212 billion in the week ended May 13 to $6.98 trillion as its pace of mortgage bond purchases picked up.

The data showed its first-ever holdings of corporate bonds totaled just $305 million after the newest emergency facility launched by the central bank kicked off purchases on Tuesday. (Reporting By Dan Burns Editing by Chris Reese)

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