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PRESS RELEASE

Statement Regarding Planned Purchases of
Agency Debt
September 19, 2008
The Federal Reserve has announced that the Open Market Trading Desk
(Desk) will begin purchasing short-term debt obligations issued by
Fannie Mae, Freddie Mac and the Federal Home Loan Banks in the
secondary market for the System Open Market Account.
Similar to secondary market purchases of Treasury securities, purchases
of Fannie Mae, Freddie Mac and Federal Home Loan Bank debt will be
conducted with the Federal Reserve’s primary dealers through a series of
competitive auctions via the Desk's FedTrade system. A series of
purchase operations are planned over the next several weeks.
Contact:
Andrew Williams
(212) 720-6143
(646) 720-6143
andrew.williams@ny.frb.org

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