The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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From: Les H	3/4/2010 5:31:00 PM
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U.S. Fed balance sheet shrinks on fewer MBS NEW YORK, March 4 (Reuters) - The U.S. Federal Reserve's balance sheet shrank slightly in the latest week due to a decline in its holdings of mortgage-related securities, Fed data released on Thursday showed. The Fed's balance sheet liabilities -- a broad gauge of its lending to the financial system -- slipped to $2.262 trillion on Wednesday from $2.269 trillion last week but was still not far below its record of $2.274 trillion set on Jan. 13. The Fed's holdings of mortgage-backed securities backed by U.S. housing finance agencies Fannie Mae (FNM.N) and Freddie Mac (FRE.N) fell to $1.027 trillion on Wednesday from $1.033 trillion a week earlier. But the central bank's ownership of debt issued by Fannie Mae, Freddie Mac and the Federal Home Loan Bank System rose to $167.51 billion from $166.53 billion a week ago. reuters.com Evans also said that the "data and state of economy does not likely lend to more MBS purchases," beyond current $1.25 trillion that the Fed plans to have in its coffers by the end of March. But, "I am open minded." He added that while the Fed has taken a wide variety of approaches to provide accommodative Fed policy, "We have found the first Fed policy maneuvers, were the most effective," meaning the MBS purchase plan that was implemented well after the credit crisis was underway, may have been less effective than earlier measures. imarketnews.com

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