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Authorized for public release by the FOMC Secretariat on 03/04/2015
Class II FOMC – Restricted (FR)

FEDERAL RESERVE BANK OF NEW YORK

Date:

December 9, 2009

To:

Federal Open Market Committee

From:

Brian Sack

Subject: Reinvestment Policy for Maturing SOMA Holdings

The attached memo, “Reinvestment Policy for Maturing SOMA Holdings,”
discusses some of the issues surrounding upcoming maturities of SOMA
holdings and presents several options that the Committee may wish to consider
regarding whether to reinvest or redeem those holdings. I will discuss the
treatment of agency and MBS holdings in my report on market developments
and operations at the upcoming meeting.

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