The New York Federal Reserve said on Friday it bought $989 million of U.S. agency debt with maturities ranging from October 2016 to June 2018.

Dealers submitted $3.302 billion of agency debt for consideration in the purchase.

Friday's operation brings the N.Y. Fed's cumulative purchase of agency debt to about $164.759 billion since early December 2008.

The N.Y. Fed, which conducts open market operations for the U.S. central bank, has said it would buy about $175 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.

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(Reporting by Lynn Adler, Editing by Chizu Nomiyama)