Debt to be sold
Source: Agencies |
March 22, 2011, Tuesday
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Print Edition
Print Edition
THE United States Treasury Department yesterday said it will begin selling its remaining US$142 billion in holdings of mortgage backed securities bought during the financial crisis.
Treasury officials said the first sales of up to US$10 billion in the securities, primarily issued by troubled mortgage firms Fannie Mae and Freddie Mac, would start this month.
Assistant Treasury Secretary Mary Miller said the sales marked continued efforts by the government to wind down the emergency programs put in place in 2008 and 2009 to help restore market stability.
Treasury officials said the first sales of up to US$10 billion in the securities, primarily issued by troubled mortgage firms Fannie Mae and Freddie Mac, would start this month.
Assistant Treasury Secretary Mary Miller said the sales marked continued efforts by the government to wind down the emergency programs put in place in 2008 and 2009 to help restore market stability.
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