Fannie Mae-No Politics (FNMA)

[Phisherman]

Fed to buy agency bonds on Friday
12/04 02:45 PM
NEW YORK (MarketWatch) -- The Federal Reserve Bank of New York will begin buying debt issued by the big mortgage-finance agencies on Friday, it said Thursday. The Fed will purchase debt sold by Fannie Mae Freddie Mac and the Federal Home Loan Banks maturing in 2009 and 2010. The purchases are part of a plan announced on Nov. 25 to buy $100 billion in agency debt to lower the cost of financing for the government-sponsored enterprises, with the intent of making mortgage loans to individuals more affordable and available. The auctions are expected to occur about once a week for the next several quarters, the Fed said.