New York Fed to aggregate part of its Ginnie Mae holdings

This brought the balance sheet to $4,140 billion, the lowest since February 12, 2014. Since October 2017, when the Fed began its QE unwind, or “balance sheet normalization,” it has now shed $321 billion: The Fed acquired Treasury securities and mortgage-backed securities (mbs).

FRBNY Federal Reserve Bank of New York GSE Government-sponsored enterprise. from the Federal Reserve’s holdings of agency debt and agency MBS received during September that. Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

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New York Fed to aggregate part of its Ginnie Mae holdings The Federal Reserve Bank of New York is streamlining its Ginnie Mae holdings by combining mortgage-backed securities with similar characteristics into larger pass-through instruments.

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To implement this monetary policy stance, the FOMC directed the Federal Reserve Bank of New York (FRBNY) to conduct open market operations (omos), including overnight reverse repurchase operations, as necessary to maintain the federal funds rate in a target range of 2-1/4 to

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 · The Fed holds 18 percent of the publicly traded Treasuries market, and it’s likely to ultimately keep more of those holdings as part of its monetary policy arsenal. The Fed’s effort to trim its balance sheet will mark the beginning of the end to its historic effort to gobble up mortgage-backed securities issued by Fannie Mae, Freddie Mac and Ginnie Mae, concluding a program that created.

Open market operations. OMOs are conducted by the Trading Desk at the Federal Reserve Bank of New York. The range of securities that the Federal Reserve is authorized to purchase and sell is relatively limited. The authority to conduct OMOs is found in section 14 of the Federal Reserve Act.

Specifically, to reduce the Federal Reserve’s securities holdings, the FOMC directed the New York Fed’s Trading Desk ("the Desk") to reinvest each month’s principal payments from Treasury securities, agency debt, and agency mortgage-backed securities (MBS) only to the extent that such payments exceed gradually rising caps.

The Federal Reserve Bank of New York is streamlining its Ginnie Mae holdings by combining mortgage-backed securities with similar characteristics into larger pass-through instruments. The process, called CUSIP aggregation, is commonly used by other MBS holders and the New York Fed already has done this to consolidate its Fannie Mae and Freddie Mac holdings, it said in an operating policy statement.

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