Operational Results
In order to ensure the transparency of its agency mortgage-backed securities (MBS) transactions, the Open Market Trading Desk (the Desk) at the New York Fed publishes historical operational results, including information on the transaction prices in individual operations, at the end of each monthly period shown in the table below. Operational results include agency MBS transactions associated with additional asset purchases and reinvestment of principal payments from agency debt and agency MBS in agency MBS, as directed at times by the Federal Open Market Committee (FOMC), as well transactions associated with small value exercises.
Purchase Amounts*
The Desk's tentative agency MBS purchase amounts associated with the additional purchases of agency MBS and reinvestment of principal payments from agency debt and agency MBS in agency MBS are shown in the table below. Purchases and reinvestment amounts reflect the prevailing directive from the FOMC.
Small Value Exercise Amounts
The Desk conducts agency MBS small value exercises from time to time as matter of prudent advance planning by the Federal Reserve. The exercises are conducted under the annual authorization for domestic open market operations for the purpose of testing operational readiness. They do not represent a change in the stance of monetary policy, and no inference should be drawn about the timing of any change in the stance of monetary policy in the future.
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Date |
Tentative Agency MBS Purchases** |
Operational Results*** |
January 15, 2021 - February 11, 2021 |
The Desk will purchase approximately $126.0 billion over the noted monthly period, including approximately $40 billion of purchases to increase SOMA holdings of agency MBS, and $86.0 billion in reinvestments of principal payments from agency MBS and agency debt. The next release of tentative purchase amounts in agency MBS will be at 3 p.m. on February 11, 2021. |
Operational results for this period will be released at 3 p.m. on February 12, 2021. |
December 14, 2020 - January 14, 2021 |
The Desk will purchase approximately $116.9 billion over the noted monthly period, including approximately $40 billion of purchases to increase SOMA holdings of agency MBS, and $76.9 billion in reinvestments of principal payments from agency MBS and agency debt. |
|
November 16, 2020 - December 11, 2020 |
The Desk will purchase approximately $124.2 billion over the noted monthly period, including approximately $40 billion of purchases to increase SOMA holdings of agency MBS, and $84.2 billion in reinvestments of principal payments from agency MBS and agency debt. |
|
October 15, 2020 - November 13, 2020 |
The Desk will purchase approximately $116.9 billion over the noted monthly period, including approximately $40 billion of purchases to increase SOMA holdings of agency MBS, and $76.9 billion in reinvestments of principal payments from agency MBS and agency debt. |
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September 15, 2020 - October 14, 2020 |
The Desk will purchase approximately $111.1 billion over the noted monthly period, including approximately $40 billion of purchases to increase SOMA holdings of agency MBS, and $71.1 billion in reinvestments of principal payments from agency MBS and agency debt. |
|
August 14, 2020 - September 14, 2020 |
The Desk will purchase approximately $110.3 billion over the noted monthly period, including approximately $40 billion of purchases to increase SOMA holdings of agency MBS, and $70.3 billion in reinvestments of principal payments from agency MBS and agency debt. |
|
July 14, 2020 - August 13, 2020 |
The Desk will purchase approximately $109.4 billion over the noted monthly period, including approximately $40 billion of purchases to increase SOMA holdings of agency MBS, and $69.4 billion in reinvestments of principal payments from agency MBS and agency debt. |
|
June 12, 2020 - July 13, 2020 |
The Desk will purchase approximately $96 billion over the noted monthly period, including approximately $40 billion of purchases to increase SOMA holdings of agency MBS, and $56 billion in reinvestments of principal payments from agency MBS and agency debt. |
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May 14, 2020 - June 11, 2020 |
The Desk plans to purchase in the amounts needed to support the smooth functioning of markets for agency MBS. |
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April 14, 2020 – May 13, 2020 |
The Desk plans to purchase in the amounts needed to support the smooth functioning of markets for agency MBS. |
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March 13, 2020 – April 13, 2020 |
The Desk plans to purchase in the amounts needed to support the smooth functioning of markets for agency MBS. |
|
February 14, 2020 – March 12, 2020 |
The Desk plans to purchase approximately $2.0 billion in its reinvestment purchase operations over the noted monthly period. |
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January 15, 2020 – February 13, 2020 |
The Desk plans to purchase approximately $5.4 billion in its reinvestment purchase operations over the noted monthly period. |
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December 13, 2019 – January 14, 2020 |
The Desk plans to purchase approximately $5.1 billion in its reinvestment purchase operations over the noted monthly period. |
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November 15, 2019 – December 12, 2019 |
The Desk plans to purchase approximately $9.6 billion in its reinvestment purchase operations over the noted monthly period. |
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October 15, 2019 – November 14, 2019 |
The Desk plans to purchase approximately $7.1 billion in its reinvestment purchase operations over the noted monthly period. |
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September 16, 2019 – October 11, 2019 |
The Desk plans to purchase approximately $6.4 billion in its reinvestment purchase operations over the noted monthly period. |
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August 14, 2019 – September 13, 2019 |
The Desk plans to purchase approximately $5.3 billion in its reinvestment purchase operations over the noted monthly period. |
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July 15, 2019 – August 13, 2019 |
The Desk plans to purchase approximately $2.3 billion in its reinvestment purchase operations over the noted monthly period. |
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June 14, 2019 – July 12, 2019 |
The Desk plans to purchase approximately $3.0 billion in its reinvestment purchase operations over the noted monthly period. |
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May 14, 2019 – June 13, 2019 |
The Desk plans to purchase approximately $220 million in its reinvestment purchase operations over the noted monthly period. |
|
April 12, 2019 – May 13, 2019 |
The Desk plans to purchase approximately $280 million in its small value purchase operations over the noted monthly period. |
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March 14, 2019 – April 11, 2019 |
The Desk plans to purchase approximately $290 million in its small value purchase operations over the noted monthly period. |
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February 14, 2019 – March 13, 2019 |
The Desk plans to purchase approximately $280 million in its small value purchase operations over the noted monthly period. |
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January 15, 2019 – February 13, 2019 |
The Desk plans to purchase approximately $300 million in its small value purchase operations over the noted monthly period. |
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December 14, 2018 – January 14, 2019 |
The Desk plans to purchase approximately $300 million in its small value purchase operations over the noted monthly period. |
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November 15, 2018 – December 13, 2018 |
The Desk plans to purchase approximately $300 million in its small value purchase operations over the noted monthly period. |
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October 15, 2018 – November 14, 2018 |
The Desk plans to purchase approximately $300 million in its small value purchase operations over the noted monthly period. |
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September 17, 2018 – October 12, 2018 |
The Desk plans to purchase approximately $5.8 billion in its reinvestment purchase operations over the noted monthly period. |
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August 14, 2018 – September 14, 2018 |
The Desk plans to purchase approximately $5.6 billion in its reinvestment purchase operations over the noted monthly period. |
|
July 16, 2018 – August 13, 2018 |
The Desk plans to purchase approximately $6.7 billion in its reinvestment purchase operations over the noted monthly period. |
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June 14, 2018 – July 13, 2018 |
The Desk plans to purchase approximately $12.5 billion in its reinvestment purchase operations over the noted monthly period. |
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May 14, 2018 – June 13, 2018 |
The Desk plans to purchase approximately $8.8 billion in its reinvestment purchase operations over the noted monthly period. |
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April 13, 2018 – May 11, 2018 |
The Desk plans to purchase approximately $9.2 billion in its reinvestment purchase operations over the noted monthly period. |
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March 14, 2018 – April 12, 2018 |
The Desk plans to purchase approximately $11.3 billion in its reinvestment purchase operations over the noted monthly period. |
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February 14, 2018 – March 13, 2018 |
The Desk plans to purchase approximately $12.7 billion in its reinvestment purchase operations over the noted monthly period. |
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January 16, 2018 – February 13, 2018 |
The Desk plans to purchase approximately $14.9 billion in its reinvestment purchase operations over the noted monthly period. |
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December 14, 2017 – January 12, 2018 |
The Desk plans to purchase approximately $20.0 billion in its reinvestment purchase operations over the noted monthly period. |
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November 14, 2017 – December 13, 2017 |
The Desk plans to purchase approximately $24.3 billion in its reinvestment purchase operations over the noted monthly period. |
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October 16, 2017 – November 13, 2017 |
The Desk plans to purchase approximately $20.4 billion in its reinvestment purchase operations over the noted monthly period. |
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September 14, 2017 – October 13, 2017 |
The Desk plans to purchase approximately $26 billion in its reinvestment purchase operations over the noted monthly period. |
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August 11, 2017 – September 13, 2017 |
The Desk plans to purchase approximately $28 billion in its reinvestment purchase operations over the noted monthly period. This amount is approximately $2 billion greater than the principal payments from agency debt and agency MBS expected to be received over the monthly period, largely due to a computational error that led to a comparable reduction in purchases during the previous monthly period. |
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July 14, 2017 – August 10, 2017 |
The Desk plans to purchase approximately $26 billion in its reinvestment purchase operations over the noted monthly period. |
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June 13, 2017 – July 13, 2017 |
The Desk plans to purchase approximately $24 billion in its reinvestment purchase operations over the noted monthly period. |
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May 11, 2017 – June 12, 2017 |
The Desk plans to purchase approximately $24 billion in its reinvestment purchase operations over the noted monthly period. |
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April 13, 2017 – May 10, 2017 |
The Desk plans to purchase approximately $23 billion in its reinvestment purchase operations over the noted monthly period. |
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March 13, 2017 – April 12, 2017 |
The Desk plans to purchase approximately $18 billion in its reinvestment purchase operations over the noted monthly period. |
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February 13, 2017 – March 10, 2017 |
The Desk plans to purchase approximately $25 billion in its reinvestment purchase operations over the noted monthly period. |
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January 13, 2017 – February 10, 2017 |
The Desk plans to purchase approximately $31 billion in its reinvestment purchase operations over the noted monthly period. |
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December 13, 2016 – January 12, 2017 |
The Desk plans to purchase approximately $39 billion in its reinvestment purchase operations over the noted monthly period. |
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November 14, 2016 – December 12, 2016 |
The Desk plans to purchase approximately $38 billion in its reinvestment purchase operations over the noted monthly period. |
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October 14, 2016 – November 10, 2016 |
The Desk plans to purchase approximately $42 billion in its reinvestment purchase operations over the noted monthly period. |
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September 14, 2016 – October 13, 2016 |
The Desk plans to purchase approximately $44 billion in its reinvestment purchase operations over the noted monthly period. |
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August 11, 2016 – September 13, 2016 |
The Desk plans to purchase approximately $31 billion in its reinvestment purchase operations over the noted monthly period. |
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July 14, 2016 – August 10, 2016 |
The Desk plans to purchase approximately $36 billion in its reinvestment purchase operations over the noted monthly period. |
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June 13, 2016 – July 13, 2016 |
The Desk plans to purchase approximately $31 billion in its reinvestment purchase operations over the noted monthly period. |
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May 12, 2016 – June 10, 2016 |
The Desk plans to purchase approximately $31 billion in its reinvestment purchase operations over the noted monthly period. |
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April 13, 2016 – May 11, 2016 |
The Desk plans to purchase approximately $33 billion in its reinvestment purchase operations over the noted monthly period. |
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March 11, 2016 – April 12, 2016 |
The Desk plans to purchase approximately $23 billion in its reinvestment purchase operations over the noted monthly period. |
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February 11, 2016 – March 10, 2016 |
The Desk plans to purchase approximately $19 billion in its reinvestment purchase operations over the noted monthly period. |
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January 14, 2016 – February 10, 2016 |
The Desk plans to purchase approximately $25 billion in its reinvestment purchase operations over the noted monthly period. |
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December 11, 2015 – January 13, 2016 |
The Desk plans to purchase approximately $21 billion in its reinvestment purchase operations over the noted monthly period. |
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November 13, 2015 – December 10, 2015 |
The Desk plans to purchase approximately $25 billion in its reinvestment purchase operations over the noted monthly period. |
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October 14, 2015 – November 12, 2015 |
The Desk plans to purchase approximately $24 billion in its reinvestment purchase operations over the noted monthly period. |
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September 14, 2015 – October 13, 2015 |
The Desk plans to purchase approximately $24 billion in its reinvestment purchase operations over the noted monthly period. |
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August 13, 2015 – September 11, 2015 |
The Desk plans to purchase approximately $26 billion in its reinvestment purchase operations over the noted monthly period. |
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July 13, 2015 – August 12, 2015 |
The Desk plans to purchase approximately $31 billion in its reinvestment purchase operations over the noted monthly period. |
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June 11, 2015 – July 10, 2015 |
The Desk plans to purchase approximately $31 billion in its reinvestment purchase operations over the noted monthly period. |
|
May 13, 2015 – June 10, 2015 |
The Desk plans to purchase approximately $32 billion in its reinvestment purchase operations over the noted monthly period. |
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April 13, 2015 – May 12, 2015 |
The Desk plans to purchase approximately $40 billion in its reinvestment purchase operations over the noted monthly period.
|
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March 12, 2015 – April 10, 2015 |
The Desk plans to purchase approximately $33 billion in its reinvestment purchase operations over the noted monthly period. |
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February 12, 2015 – March 11, 2015 |
The Desk plans to purchase approximately $22 billion in its reinvestment purchase operations over the noted monthly period. |
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January 14, 2015 – February 11, 2015 |
The Desk plans to purchase approximately $27 billion in its reinvestment purchase operations over the noted monthly period. |
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December 11, 2014 – January 13, 2015 |
The Desk plans to purchase approximately $22 billion in its reinvestment purchase operations over the noted monthly period. It does not plan to conduct agency MBS operations between December 24, 2014 and January 2, 2015. Instead, the Desk will purchase the reinvestment amount through more frequent operations from December 11, 2014 to December 23, 2014 and from January 5, 2015 to January 13, 2015. Purchases on these days, and throughout the period, will continue to be guided by general MBS market conditions, including market liquidity and supply and demand conditions. |
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November 14, 2014 – December 10, 2014 |
The Desk plans to purchase approximately $21 billion in its reinvestment purchase operations over the noted monthly period. |
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October 14, 2014 – November 13, 2014 |
The Desk plans to purchase approximately $20 billion in its reinvestment purchase operations over the noted monthly period. |
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September 12, 2014 – October 10, 2014 |
The Desk plans to purchase approximately $22 billion in its reinvestment purchase operations over the noted monthly period. |
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August 13, 2014 – September 11, 2014 |
The Desk plans to purchase approximately $21 billion in its reinvestment purchase operations over the noted monthly period. |
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July 14, 2014 – August 12, 2014 |
The Desk plans to purchase approximately $21 billion in its reinvestment purchase operations over the noted monthly period. |
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June 12, 2014 – |
The Desk plans to purchase approximately $16 billion in its reinvestment purchase operations over the noted monthly period. This amount is approximately $1 billion less than the $17 billion principal payments from agency debt and agency MBS expected to be received over the monthly period, given that reinvestment purchases conducted in the previous monthly period exceeded the target by approximately $1 billion. |
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May 13, 2014 – |
The Desk plans to purchase approximately $16 billion in its reinvestment purchase operations over the noted monthly period. |
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April 11, 2014 – |
The Desk plans to purchase approximately $16 billion in its reinvestment purchase operations over the noted monthly period. |
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March 13, 2014 – |
The Desk plans to purchase approximately $16 billion in its reinvestment purchase operations over the noted monthly period. |
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February 13, 2014 – |
The Desk plans to purchase approximately $12 billion in its reinvestment purchase operations over the noted monthly period. |
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January 14, 2014 – |
The Desk plans to purchase approximately $18 billion in its reinvestment purchase operations over the noted monthly period. |
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December 12, 2013 – |
The Desk plans to purchase approximately $14 billion in its reinvestment purchase operations over the noted monthly period. The Desk will be staffed and operational the weeks of December 23, 2013 and December 30, 2013. Purchases on these days, and throughout the period, will continue to be guided by general MBS market conditions, including market liquidity and supply and demand conditions. |
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November 14, 2013 – |
The Desk plans to purchase approximately $15 billion in its reinvestment purchase operations over the noted monthly period. |
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October 11, 2013 – |
The Desk plans to purchase approximately $15 billion in its reinvestment purchase operations over the noted monthly period. |
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September 13, 2013 – |
The Desk plans to purchase approximately $20 billion in its reinvestment purchase operations over the noted monthly period. |
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August 13, 2013 – |
The Desk plans to purchase approximately $25 billion in its reinvestment purchase operations over the noted monthly period. |
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July 12, 2013 – |
The Desk plans to purchase approximately $25 billion in its reinvestment purchase operations over the noted monthly period. |
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June 13, 2013 – |
The Desk plans to purchase approximately $30 billion in its reinvestment purchase operations over the noted monthly period. |
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May 13, 2013 – |
The Desk plans to purchase approximately $27 billion in its reinvestment purchase operations over the noted monthly period. |
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Apr 11, 2013 – |
The Desk plans to purchase approximately $26 billion in its reinvestment purchase operations over the noted monthly period. |
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Mar 13, 2013 – |
The Desk plans to purchase approximately $29 billion in its reinvestment purchase operations over the noted monthly period. |
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Feb 13, 2013 – |
The Desk plans to purchase approximately $31 billion in its reinvestment purchase operations over the noted monthly period. |
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Jan 14, 2013 – |
The Desk plans to purchase approximately $34 billion in its reinvestment purchase operations over the noted monthly period. |
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Dec 13, 2012 – |
The Desk plans to purchase approximately $34 billion in its reinvestment purchase |
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Nov 14 – Dec 12, 2012 |
The Desk plans to purchase approximately $35 billion in its reinvestment purchase |
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Oct 12 - Nov 13, 2012 |
The Desk plans to purchase approximately $29 billion in its reinvestment purchase |
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Sep 14 - Oct 11, 2012 |
The Desk plans to purchase approximately $37 billion in its reinvestment purchase |
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Aug 13 - Sep 13, 2012 |
The Desk plans to purchase approximately $30 billion in its operations over the noted |
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Jul 13 - Aug 10, 2012 |
The Desk plans to purchase approximately $27 billion in its operations over the noted |
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Jun 13 - Jul 12, 2012 |
The Desk plans to purchase approximately $25 billion in its operations over the noted monthly period. |
Results |
May 11 - Jun 12, 2012 |
The Desk plans to purchase approximately $25 billion in its operations over the noted |
Results |
Apr 12 - May 10, 2012 |
The Desk plans to purchase approximately $29 billion in its operations over the noted |
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Mar 13 - Apr 11, 2012 |
The Desk plans to purchase approximately $29 billion in its operations over the noted |
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Feb 13 - Mar 12, 2012 |
The Desk plans to purchase approximately $24 billion in its operations over the noted |
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Jan 13 - Feb 10, 2012 |
The Desk plans to purchase approximately $25 billion in its operations over the noted |
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Dec 13, 2011 - |
The Desk plans to purchase approximately $30 billion in its operations over the noted |
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Nov 14 - Dec 12, 2011 |
The Desk plans to purchase approximately $28 billion in its operations over the noted |
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Oct 14 - Nov 10, 2011 |
The Desk plans to purchase approximately $22 billion in its operations over the noted |
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Oct 3 - Oct 13, 2011 |
An approximate purchase amount of $10 billion was announced in the Desk’s FAQs published on September 26, 2011. This amount represented an approximation of the remainder of principal payments from agency debt and agency MBS to be reinvested in agency MBS over this time, based on the reinvestment schedule released in mid-September. |
*Note: MBS purchase amounts published by the Desk are based on already announced FOMC decisions, and make no assumptions about future policy actions. Accordingly, if the FOMC announced a modification to its policy stance with a new policy directive, the Desk would release an updated statement regarding MBS purchases.
**Note: The New York Fed publishes a summary of the most recent SOMA agency MBS transaction activity on its website on a weekly basis. Small value transactions are not included in the weekly summary.
***Note: As of 12/10/14, the prices in the operational results files were revised for some operations between 10/3/11 and 5/12/14 to be rounded consistently to six decimal places. Previously, the number of decimal places displayed was inconsistent.
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