Central Banking

Fed switches MBS purchases to proprietary platform

ny-fed-electronic-board

The Federal Reserve Bank of New York will start using its proprietary trading platform, FedTrade, to make monthly purchases of mortgage-backed securities (MBSs) on behalf of the Federal Open Market Committee (FOMC), also known as quantitative easing (QE), from April 9, the bank said yesterday in a statement.

The New York Fed Open Market Desk, which is responsible for implementing FOMC decisions, already uses the FedTrade platform to conduct Treasury operations, repurchase and reverse repurchase

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