Statement Regarding Maturity Extension Program and Agency Se

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Statement Regarding Maturity Extension Program and Agency Security Reinvestments
On September 21, 2011, the Federal Open Market Committee (FOMC) directed the Open Market Trading Desk at the Federal Reserve Bank of New York to purchase, by the end of June 2012, $400 billion in par value of Treasury securities with remaining maturities of 6 years to 30 years and to sell, over the same period, an equal par value of Treasury securities with remaining maturities of 3 years or less. The FOMC also directed the Desk to reinvest principal payments from its holdings of agency debt and agency mortgage-backed securities (MBS) in agency MBS.
http://www.newyorkfed.org/markets/opoli ... 10921.html