Fleming, Michael J.; Liu, Haoyang; Podjasek, Rich; … - 2021
In March 2020, massive customer selling of U.S. Treasury securities and agency mortgage-backed securities (MBS … initiation of market functioning purchases of Treasury securities and agency MBS. Purchases quickly expanded to over $100 billion … per day as the Fed announced plans to buy securities "in the amounts needed" to support market functioning and the …