New York Fed buys $1.47 billion agency bonds under purchase program

By Jennifer Chiou

New York, Jan. 21 - The Federal Reserve Bank of New York accepted and purchased $1.47 billion of agency-issued securities with maturities from March 5, 2012 through Nov. 15, 2013, according to its web site.

Holders submitted $4,906,000,000 of securities for purchase.

The outright agency coupon purchases will settle on Monday.

The Federal Reserve's Federal Open Market Committee previously said it now expects to complete its purchases of agency debt by the end of the first quarter of 2010 instead of by the end of 2009.

As already reported, the Federal Reserve Bank of New York said that agents acting on behalf of its Open Market Trading Desk will gradually reduce the size and frequency of individual agency debt purchases.

Fannie Mae notes

The purchases include the following notes issued by Fannie Mae:

• $18 million of 1.75% notes due Aug. 10, 2012;

• $10 million of 4.75% notes due Nov. 19, 2012;

• $50 million of 3.625% notes due Feb. 12, 2013;

• $126 million of 1.75% notes due Feb. 22, 2013;

• $11 million of 4.375% notes due March 15, 2013;

• $25 million of 3.25% notes due April 9, 2013;

• $219 million of 3.875% notes due July 12, 2013;

• $27 million of 4.625% notes due Oct. 15, 2013.

Freddie Mac notes

The Fed is also purchasing the following notes issued by Freddie Mac:

• $30 million of 4.75% notes due March 5, 2012;

• $163 million of 2.125% notes due March 23, 2012;

• $264 million of 4.625% notes due Oct. 25, 2012;

• $125 million of 4.5% notes due Jan. 15, 2013;

• $1 million of 3.75% notes due June 28, 2013; and

• $186 million of 4.875% notes due Nov. 15, 2013.

FHLB notes

In addition, the Fed is purchasing the following notes issued by the Federal Home Loan Banks:

• $17 million of 1.75% notes due Aug. 22, 2012;

• $77 million of 1.625% notes due Sept. 26, 2012;

• $2 million of 4.5% notes due Nov. 15, 2012;

• $97 million of 1.5% notes due Jan. 16, 2013;

• $18 million of 3.625% notes due May 29, 2013; and

• $4 million of 4.5% notes due Sept. 16, 2013.

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