The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
The Outreach and Education function engages, empowers and educates the Second District communities that the Bank serves, especially civic leaders, students, educators, small business owners, policymakers and the general public. It furthers the Bank's commitment to the region by listening to the communities we serve and leveraging our unique attributes to positively impact school and university programs, as well as analysis and research.
Statement Regarding Purchases of Treasury Securities
August 12, 2009
The Federal Reserve is in the process of buying $300 billion of Treasury securities. On Wednesday, August 12, 2009, the Federal Open Market Committee announced that it decided to gradually slow the pace of these transactions and anticipates that the full amount will be purchased by the end of October. This approach is intended to promote a smooth transition in markets as these purchases of Treasury securities are completed. To implement this decision, the Federal Reserve Bank of New York Open Market Trading Desk will gradually reduce both the size of individual operations and the frequency of operations, beginning with the two-week schedule to be released on Wednesday, August 19, 2009.