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Fed Starts $500 bn MBS Purchase
Alea — ... The Federal Reserve Bank of New York today purchasing fixed-rate mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Selected private investment managers are acting as agents of the New York Fed in these purchases. ...

Fed Begins "Quantitatively Easing" Mortgage Debt
IEHI Feed: The Hedge Fund Implode-o-Meter — The full release from sugar feddy is reproduced below: The Federal Reserve Bank of New York today began purchasing fixed-rate mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae. Selected private investment managers are acting as agents of the New York Fed in these purchases. Summary data detailing these operations will be available on the New York Fed’s website beginning Thursday, January 8, 2009, and will be updated on a weekly basis each Thursday. This program, first announced on November 25, 2008, is ...

Fed to Begin Buying Mortgage-Backed Securities
DealBook — ... and write-downs. But, the administration altered its plan and decided instead to use its $700 billion program to invest directly in banks. A spokesmen for the New York Fed said the bank expected to provide weekly details of the purchasing program beginning Thursday. The details could potentially include information such as the amount of debt purchased along with other characteristics of the securities, he added. Go to Article from The Associated Press via The New York Times » Go to Press Release from The Federal Reserve Bank of New York »

Coping with failure, redux
FT Alphaville — From the New York Fed: January 5, 2009 The Federal Reserve Bank of New York today began purchasing fixed-rate mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae. Selected private investment managers are acting as agents of the New York Fed in these purchases. Summary data detailing these operations will be available on the New York Fed’s website beginning Thursday, January 8, 2009, and will be updated on a weekly basis each Thursday. This program, first announced on November 25, 2008, is intended to support the mortgage and housing markets and ...