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BRIEF-NY Fed Statement Regarding Aggregation Of Agency Mortgage-Backed Securities Holdings

BY Reuters | AGENCY | 10/06/22 03:11 PM EDT

Oct 6 (Reuters) -

* NY FED STATEMENT REGARDING AGGREGATION OF AGENCY MORTGAGE-BACKED SECURITIES HOLDINGS

* NY FED: STARTING THIS MONTH, NY FED DESK WILL BEGIN PROCESS OF CUSIP AGGREGATION, WHICH INVOLVES STREAMLINING ADMINISTRATION OF PORTION OF AGENCY MBS HELD IN SOMA

* NY FED: DESK WILL AGGREGATE FREDDIE MAC MBS HELD IN THE SOMA THAT WERE ISSUED PRIOR TO JUNE 2019 AND HAVE A 45-DAY PAYMENT DELAY

* NY FED: FANNIE MAE SECURITIES ISSUED PRIOR TO JUNE 2019, FREDDIE MAC SECURITIES ISSUED AFTER JUNE 2019 HAVE 55-DAY PAYMENT DELAYS AND ARE ELIGIBLE FOR COMMINGLING, WILL NOT BE AGGREGATED AT THIS TIME Source text: https://nyfed.org/3V8iU8I

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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