NY Fed to buy agencies due 2011-2013 on Thursday
NEW YORK - The New York Federal Reserve said on Wednesday it will buy U.S. agency coupon securities maturing between September 2011 and August 2013 in an open market operation on Thursday.
The New York Fed, which conducts such operations for the Federal Reserve, has been buying debt issued by housing finance agencies Fannie Mae (FNM.N) (FNM.P), Freddie Mac (FRE.N) (FRE.P) and the Federal Home Loan Bank system with the goal of lowering mortgage rates and stabilizing the housing market.
Reporting by Lynn Adler; Editing by James Dalgleish
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