The New York Federal Reserve said on Friday it bought $1.970 billion of U.S. agency debt with maturities ranging from April 2016 to March 2019.
Dealers submitted $4.378 billion of agency debt for consideration in the purchase.
Friday's operation brings the N.Y. Fed's cumulative purchase of agency debt to $81 billion since early December.
The Fed had said it would buy securities maturing between April 2016 and July 2032, but it opted not to buy any of the longest-term debt.
The N.Y. Fed, which conducts open market operations for the U.S. central bank, has said it would buy up to $200 billion of agency securities issued by Fannie Mae, Freddie Mac and the Federal Home Loan Bank system aiming to hold down mortgage rates and revive economic growth.
(Reporting by Lynn Adler; Editing by James Dalgleish)