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N.Y. Fed to buy more agency notes under outright purchase program
By Jennifer Chiou
New York, Sept. 24 - The Federal Reserve Bank of New York announced that it will make additional purchases of agency notes, this time with maturities from April 18, 2016 to July 15, 2032, for settlement on Monday.
On Wednesday, 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.
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.
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