Effective March 23, 2020, the Federal Open Market Committee (FOMC) directed the Open Market Trading Desk (the Desk) at the Federal Reserve Bank of New York to purchase agency commercial MBS (CMBS) on behalf of the System Open Market Account (SOMA). The Desk purchased in the open market agency CMBS secured primarily by multifamily home mortgages that are guaranteed fully as to principal and interest by Fannie Mae, Freddie Mac, and Ginnie Mae and that the Desk has determined are suitable for purchase. Effective November 4, 2021, the Desk is no longer directed to purchase agency CMBS to sustain smooth functioning.
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Agency Commercial Mortgage-Backed Securities Operation Schedule
The operation schedule and parameters are subject to change.
| Operation Date | Operation Time | Security Type | Security Details | Operation Type | Settlement Date | Minimum Lot Size (million) |
Maximum Purchase Amount* (million) |
|---|---|---|---|---|---|---|---|
| 3/23/2021 | 11:00 AM | Ginnie Mae Project Loans | GNR pass-through or front sequential, WAL 3+ years, prepay penalty does not accrue to tranche | Multiple Price | 3/26/2021 | $1 | $250 |
| 3/9/2021 | 11:00 AM | Fannie Mae Delegated Underwriting and Servicing (FNMA DUS) | 6-month open period, WAL 5+ years | Multiple Price | 3/12/2021 | $1 | $500 |
| 2/23/2021 | 11:00 AM | Fixed-rate Freddie Mac 10-year K-series Deals | A-2 Class, WAL 5+ years | Multiple Price | 2/26/2021 | $1 | $500 |
| 2/9/2021 | 11:00 AM | Fannie Mae Delegated Underwriting and Servicing (FNMA DUS) | 6-month open period, WAL 5+ years | Multiple Price | 2/12/2021 | $1 | $500 |
| 1/26/2021 | 11:00 AM | Ginnie Mae Project Loans | GNR pass-through or front sequential, WAL 3+ years, prepay penalty does not accrue to tranche | Multiple Price | 1/29/2021 | $1 | $250 |
| 1/21/2021 | 11:00 AM | Fannie Mae Delegated Underwriting and Servicing (FNMA DUS) | 6-month open period, WAL 5+ years | Multiple Price | 1/26/2021 | $1 | $500 |
| 1/12/2021 | 11:00 AM | Fixed-rate Freddie Mac 10-year K-series Deals | A-2 Class, WAL 5+ years | Multiple Price | 1/15/2021 | $1 | $500 |
| 1/5/2021 | 11:00 AM | Fannie Mae Delegated Underwriting and Servicing (FNMA DUS) | 6-month open period, WAL 5+ years | Multiple Price | 1/8/2021 | $1 | $500 |
| 12/15/2020 | 11:00 AM | Ginnie Mae Project Loans | GNR pass-through or front sequential, WAL 3+ years, prepay penalty does not accrue to tranche | Multiple Price | 12/18/2020 | $1 | $250 |
| 12/8/2020 | 11:00 AM | Fannie Mae Delegated Underwriting and Servicing (FNMA DUS) | 6-month open period, WAL 5+ years | Multiple Price | 12/11/2020 | $1 | $500 |
| 12/1/2020 | 11:00 AM | Fixed-rate Freddie Mac 10-year K-series Deals | A-2 Class, WAL 5+ years | Multiple Price | 12/4/2020 | $1 | $500 |
| 11/17/2020 | 11:00 AM | Fannie Mae Delegated Underwriting and Servicing (FNMA DUS) | 6-month open period, WAL 5+ years | Multiple Price | 11/20/2020 | $1 | $500 |
| 11/10/2020 | 11:00 AM | Ginnie Mae Project Loans | GNR pass-through or front sequential, WAL 3+ years, prepay penalty does not accrue to tranche | Multiple Price | 11/16/2020 | $1 | $250 |
| 11/3/2020 | 11:00 AM | Fannie Mae Delegated Underwriting and Servicing (FNMA DUS) | 6-month open period, WAL 5+ years | Multiple Price | 11/6/2020 | $1 | $500 |
| 10/27/2020 | 11:00 AM | Fixed-rate Freddie Mac 10-year K-series Deals | A-2 Class, WAL 5+ years | Multiple Price | 10/30/2020 | $1 | $500 |
| 10/20/2020 | 11:00 AM | Fannie Mae Delegated Underwriting and Servicing (FNMA DUS) | 6-month open period, WAL 5+ years | Multiple Price | 10/23/2020 | $1 | $500 |
| 10/15/2020 | 11:00 AM | Ginnie Mae Project Loans | GNR pass-through or front sequential, WAL 3+ years, prepay penalty does not accrue to tranche | Multiple Price | 10/20/2020 | $1 | $250 |
| 10/6/2020 | 11:00 AM | Fannie Mae Delegated Underwriting and Servicing (FNMA DUS) | 6-month open period, WAL 5+ years | Multiple Price | 10/9/2020 | $1 | $500 |
| 9/29/2020 | 11:00 AM | Fixed-rate Freddie Mac 10-year K-series Deals | A-2 Class, WAL 5+ years | Multiple Price | 10/2/2020 | $1 | $500 |
| 9/22/2020 | 11:00 AM | Fannie Mae Delegated Underwriting and Servicing (FNMA DUS) | 6-month open period, WAL 5+ years | Multiple Price | 9/25/2020 | $1 | $500 |
| 9/17/2020 | 11:00 AM | Ginnie Mae Project Loans | GNR pass-through or front sequential, WAL 3+ years, prepay penalty does not accrue to tranche | Multiple Price | 9/22/2020 | $2.5 | $250 |
| 9/10/2020 | 11:00 AM | Fannie Mae Delegated Underwriting and Servicing (FNMA DUS) | 6-month open period, WAL 5+ years | Multiple Price | 9/15/2020 | $2.5 | $500 |
| 9/1/2020 | 11:00 AM | Fixed-rate Freddie Mac 10-year K-series Deals | A-2 Class, WAL 5+ years | Multiple Price | 9/4/2020 | $2.5 | $500 |
| 8/25/2020 | 11:00 AM | Fannie Mae Delegated Underwriting and Servicing (FNMA DUS) | 6-month open period, WAL 5+ years | Multiple Price | 8/28/2020 | $2.5 | $500 |
| 8/18/2020 | 11:00 AM | Ginnie Mae Project Loans | GNR pass-through or front sequential, WAL 3+ years, prepay penalty does not accrue to tranche | Multiple Price | 8/21/2020 | $2.5 | $250 |
| 8/11/2020 | 11:00 AM | Fannie Mae Delegated Underwriting and Servicing (FNMA DUS) | 6-month open period, WAL 5+ years | Multiple Price | 8/14/2020 | $2.5 | $500 |
| 8/4/2020 | 11:00 AM | Fixed-rate Freddie Mac 10-year K-series Deals | A-2 Class, WAL 5+ years | Multiple Price | 8/7/2020 | $2.5 | $500 |
| 7/28/2020 | 11:00 AM | Fannie Mae Delegated Underwriting and Servicing (FNMA DUS) | 6-month open period, WAL 5+ years | Multiple Price | 7/31/2020 | $2.5 | $500 |
| 7/21/2020 | 11:00 AM | Ginnie Mae Project Loans | GNR pass-through or front sequential, WAL 3+ years, prepay penalty does not accrue to tranche | Multiple Price | 7/24/2020 | $2.5 | $250 |
| 7/14/2020 | 11:00 AM | Fannie Mae Delegated Underwriting and Servicing (FNMA DUS) | 6-month open period, WAL 5+ years | Multiple Price | 7/17/2020 | $2.5 | $500 |
| 7/7/2020 | 11:00 AM | Ginnie Mae Project Loans | GNR pass-through or front sequential, WAL 3+ years, prepay penalty does not accrue to tranche | Multiple Price | 7/10/2020 | $5 | $250 |
| 6/30/2020 | 11:00 AM | Fannie Mae Delegated Underwriting and Servicing (FNMA DUS) | 6-month open period, WAL 7+ years | Multiple Price | 7/6/2020 | $5 | $500 |
| 6/23/2020 | 11:00 AM | Ginnie Mae Project Loans | GNR pass-through or front sequential, WAL 3+ years, prepay penalty does not accrue to tranche | Multiple Price | 6/26/2020 | $5 | $250 |
| 6/16/2020 | 11:00 AM | Fannie Mae Delegated Underwriting and Servicing (FNMA DUS) | 6-month open period, WAL 7+ years | Multiple Price | 6/19/2020 | $5 | $500 |
| 6/9/2020 | 11:00 AM | Fannie Mae Delegated Underwriting and Servicing (FNMA DUS) | 6-month open period, WAL 7+ years | Multiple Price | 6/12/2020 | $5 | $500 |
| 6/2/2020 | 11:00 AM | Fixed-rate Freddie Mac 10-year K-series Deals | A-2 Class, WAL 5+ years | Multiple Price | 6/5/2020 | $5 | $500 |
| 5/28/2020 | 11:00 AM | Fannie Mae Delegated Underwriting and Servicing (FNMA DUS) | 6-month open period, WAL 7+ years | Multiple Price | 6/2/2020 | $5 | $500 |
| 5/19/2020 | 11:00 AM | Ginnie Mae Project Loans | GNR pass-through or front sequential, WAL 3+ years, prepay penalty does not accrue to tranche | Multiple Price | 5/22/2020 | $5 | $250 |
| 5/12/2020 | 11:00 AM | Fixed-rate Freddie Mac 10-year K-series Deals | A-2 Class, WAL 7+ years | Multiple Price | 5/15/2020 | $5 | $500 |
| 5/7/2020 | 11:00 AM | Ginnie Mae Project Loans | GNR pass-through or front sequential, WAL 3+ years, prepay penalty does not accrue to tranche | Multiple Price | 5/12/2020 | $5 | $250 |
| 5/5/2020 | 11:00 AM | Fannie Mae Delegated Underwriting and Servicing (FNMA DUS) | 6-month open period, WAL 7+ years | Multiple Price | 5/8/2020 | $5 | $500 |
| 4/30/2020 | 11:00 AM | Ginnie Mae Project Loans | GNR pass-through or front sequential, WAL 3+ years, prepay penalty does not accrue to tranche | Multiple Price | 5/5/2020 | $5 | $250 |
| 4/28/2020 | 11:00 AM | Fannie Mae Delegated Underwriting and Servicing (FNMA DUS) | 6-month open period, WAL 7+ years | Multiple Price | 5/1/2020 | $5 | $750 |
| 4/23/2020 | 11:00 AM | Ginnie Mae Project Loans | GNR pass-through or front sequential, WAL 3+ years, prepay penalty does not accrue to tranche | Multiple Price | 4/28/2020 | $5 | $500 |
| 4/21/2020 | 11:00 AM | Fannie Mae Delegated Underwriting and Servicing (FNMA DUS) | 6-month open period, WAL 7+ years | Multiple Price | 4/24/2020 | $5 | $1,000 |
| 4/16/2020 | 11:00 AM | Ginnie Mae Project Loans | GNR pass-through or front sequential, WAL 3+ years, prepay penalty does not accrue to tranche | Multiple Price | 4/21/2020 | $5 | $500 |
| 4/14/2020 | 11:00 AM | Fannie Mae Delegated Underwriting and Servicing (FNMA DUS) | 6-month open period, WAL 7+ years | Multiple Price | 4/17/2020 | $5 | $1,500 |
| 4/9/2020 | 11:00 AM | Fixed-rate Freddie Mac 10-year K-series Deals | A-2 Class, WAL 7+ years | Multiple Price | 4/15/2020 | $5 | $750 |
| 4/9/2020 | 11:00 AM | Fixed-rate Freddie Mac 10-year K-series Deals | A-1 Class, WAL 4+ years | Multiple Price | 4/15/2020 | $5 | $250 |
| 4/7/2020 | 11:00 AM | Fannie Mae Delegated Underwriting and Servicing (FNMA DUS) | 6-month open period, WAL 7+ years | Multiple Price | 4/13/2020 | $5 | $2,000 |
| 4/3/2020 | 11:00 AM | Ginnie Mae Project Loans | GNR pass-through or front sequential, WAL 3+ years, prepay penalty does not accrue to tranche | Multiple Price | 4/6/2020 | $5 | $500 |
| 4/2/2020 | 11:00 AM | Fannie Mae Delegated Underwriting and Servicing (FNMA DUS) | 6-month open period, WAL 7+ years | Multiple Price | 4/3/2020 | $5 | $1,500 |
| 3/31/2020 | 11:00 AM | Fixed-rate Freddie Mac 10-year K-series Deals | A-2 Class, WAL 7+ years | Multiple Price | 4/1/2020 | $5 | $1,000 |
| 3/27/2020 | 11:00 AM | Fannie Mae Delegated Underwriting and Servicing (FNMA DUS) | 10/9.5, WAL 7+ years | Multiple Price | 3/30/2020 | $5 | $1,000 |
* deviations above these amounts may occur for operational reasons
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