May 30, 2013 / 8:33 PM / 4 years ago

U.S. Fed balance sheet shrinks in latest week

NEW YORK, May 30 (Reuters) - The U.S. Federal Reserve’s balance sheet shrank in the latest week on lower holdings of mortgage-backed securities and agency debt, Fed data released on Thursday showed.

The Fed’s balance sheet, which is a broad gauge of its lending to the financial system, stood at $3.342 trillion on May 29, compared to $3.356 trillion on May 22.

The Fed’s holdings of Treasuries rose to $1.884 trillion as of Wednesday, May 29, from $1.877 trillion the previous week.

The Fed’s overnight direct loans to credit-worthy banks via its discount window averaged $10 million a day during the week versus $23 million a day the previous week.

The Fed’s ownership of mortgage bonds guaranteed by Fannie Mae, Freddie Mac and the Government National Mortgage Association (Ginnie Mae) slipped to $1.165 trillion from $1.179 trillion.

The Fed’s holdings of debt issued by Fannie Mae, Freddie Mac and the Federal Home Loan Bank system totaled $70.89 billion compared with $72.05 billion the previous week.

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