New York Fed to aggregate part of its Ginnie Mae holdings

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.

FRBNY Federal Reserve Bank of New york gse government-sponsored enterprise. reduction of its aggregate securities holdings in the SOMA at the end of September 2019.. Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

CUSIP aggregation is a process through which a number of existing MBS issued or guaranteed by Fannie Mae, Freddie Mac, or Ginnie Mae. The New York Fed publishes detailed data on all settled SOMA.

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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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The New York Fed will adjust the pace of its purchases based on input from the investment managers about market conditions and the impact of the program. The investment managers will be required to purchase securities frequently and to disclose the Federal Reserve as principal.

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 · The cash flows from the underlying agency mbs provide the cash flows for the aggregated CUSIP. This aggregation service is offered by Fannie Mae, Freddie Mac, and Ginnie Mae. At this time, the Desk plans to aggregate the Federal Reserve’s MBS backed by Fannie Mae and Freddie Mac, but does not plan to aggregate MBS backed by Ginnie Mae.

original principal balance equal to the aggregate remaining principal. agreement or a lender holding a security interest in the MBS Assets. On the Settlement Date, the Platinum Certificate will be transferred to the Federal Reserve Bank of New York's custodian, and the $1,000 non-cash fee portion of the.

Agency Mortgage-Backed Securities (MBS) Purchase Program. The authority to conduct open market operations is granted under Section 14 of the Federal Reserve Act. Open market operations are conducted by the Trading Desk at the Federal Reserve Bank of New York (FRBNY), in compliance with authorizations, policies, and procedures established by the FOMC.