Treasury Selects Barclays, State Street Bank For MBS Purchase Program

The U.S. Treasury Department has hired Barclays Global Investors and State Street Bank and Trust Co. to manage its program to purchase mortgage-backed securities (MBS), according to an AP report.

The Treasury notes that this program is not linked to the financial rescue that received approval last Friday. Barclays and State Street Bank have already begun purchasing securities, but the exact amounts have not been specified.

The government is expected to release the purchase data in its monthly report on the federal budget.

Source: AP

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