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ginnie mae
’New Year sales, Federal Reserve edition
From the FRBNY:
Purchases of agency MBS by investment managers acting as agents for the System Open Market Account (SOMA).
(Click image for a sharper version)
Hope they kept the receipt!
And from Brad Setser at the CFR,
Coping with failure, redux
From the New York Fed:
January 5, 2009
The Federal Reserve Bank of New York today began purchasing fixed-rate mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae. Selected private investment managers are acting as agents of the New York Fed in these purchases.
Fed buys MBS in latest ‘unorthodoxy’
The Federal Reserve on Monday kick-started its latest unconventional programme to boost the US economy, this time targeting mortgage-backed securities to help the slumping housing market, reports Reuters.