Fed to start buying mortgage-backed securities
Fed Reserve will begin purchasing up to $500 bn in mortgage-backed securities next month to bolster US housing mkt.
By Agencies |
WASHINGTON: The Federal Reserve says it will begin purchasing up to $500 billion in mortgage-backed securities early next month in an effort to bolster the US housing market.
The Fed first announced the purchases in late November, but did not say when they would begin. The central bank says it will purchase securities that are guaranteed by home loan giants Fannie Mae, Freddie Mac and Ginnie Mae.
The Fed also says BlackRock Inc, Goldman Sachs Asset Management, PIMCO and Wellington Management Company LLP will operate the program.
The Fed first announced the purchases in late November, but did not say when they would begin. The central bank says it will purchase securities that are guaranteed by home loan giants Fannie Mae, Freddie Mac and Ginnie Mae.
The Fed also says BlackRock Inc, Goldman Sachs Asset Management, PIMCO and Wellington Management Company LLP will operate the program.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
