N.Y. Fed to buy back further notes under outright purchase program

By Jennifer Chiou

New York, Sept. 2 - The Federal Reserve Bank of New York announced that it will repurchase more notes as part of its outright agency coupon purchase program.

The Fed is targeting agency notes due Sept. 15, 2011 through Aug. 14, 2013 for settlement on Sept. 4.

On Aug. 28, the Fed said it accepted purchases of $1,945,000,000 of agency notes under the program. The total amount of submitted par buybacks came to $4.7 billion.

On Aug. 21, the Fed accepted purchases of $5,605,000,000 of agency notes under the program. As already reported, the total amount of submitted par buybacks came to $11,209,000,000.

The Fed previously targeted agency notes due Aug. 23, 2010 through Aug. 19, 2011.

A prior buyback, on June 23, took out $2.072 billion of agency securities due 2013 to 2015 from the market.

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