N.Y. Fed to buy more agency notes under outright purchase program

By Jennifer Chiou

New York, Oct. 27 - The Federal Reserve Bank of New York announced that it will make more purchases of agency notes, this time with maturities from Nov. 15, 2011 to Oct. 18, 2013, for settlement on Thursday.

As already reported, the Federal Reserve's Federal Open Market Committee 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.

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

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