New York Fed to aggregate part of its Ginnie Mae holdings

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NEW YORK. The Fed’s ownership of mortgage bonds guaranteed by Fannie Mae FNMA.OB, freddie mac fmcc.ob and the Government National Mortgage Association (Ginnie Mae) was unchanged on the week at $948.

The New York Fed’s Liberty Street Economics blog provides commentary on current economic topics relating to monetary policy, macroeconomic developments, financial stability issues, and regional trends in the Second Federal Reserve District.

The following frequently asked questions (FAQs) provide further information about the Federal Reserve Bank of New York’s (New York Fed) plans to consolidate certain agency mortgage-backed securities (MBS) that are held in the System Open Market Account (SOMA) through a process called CUSIP aggregation.

Under the terms of the APA, subject to certain conditions, New Residential has agreed to purchase, among other assets, Ditech Financial’s forward Fannie Mae, Ginnie Mae and non-agency mortgage.

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The Federal Reserve’s Open Market Desk uses this information to determine the amount of MBS purchases that are required to offset total principal payments on SOMA MBS holdings, and announces scheduled reinvestment purchases regularly on the Federal Reserve Bank of New York’s website.

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Renewed demand is helping to fuel a rebound that’s allowing the Federal Reserve Bank of New York to attract buyers for bonds it. which along with Fannie Mae and Ginnie Mae guarantee so-called.

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The New York Fed is authorized by the Federal Open Market Committee (FOMC) to buy and sell agency mortgage-backed securities (MBS) for the System Open Market Account (SOMA) to the extent necessary to carry out the most recent FOMC directive.

NEW YORK, Jan 6 (Reuters) – The Federal Reserve’s balance sheet rose to a record in the latest week as the U.S. central bank continued to purchase Treasuries as part of its. (Ginnie Mae) was $992.

In March 2019 the Federal Reserve Bank of New York (NY Fed) Open Market Trading Desk began a process to streamline the administration of some of the Ginnie Mae-issued mortgage-backed securities.

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Antoine Martin is a senior vice president in the Federal Reserve Bank of New York’s Research and Statistics Group. Sam Schulhofer-Wohl is a senior economist and research advisor at the Federal Reserve Bank of Chicago. How to cite this blog post: Antoine Martin and Sam Schulhofer-Wohl, "How Do the Fed’s MBS Purchases Affect Credit Allocation