NEW YORK, Feb 13 (Reuters) - The Federal Reserve bought
$1.8 billion of debt issued by Fannie Mae
Dealers submitted $3.7 billion in bids in the auction.
The Fed bought agency debt securities maturing between February 2010 and December 2010 in an outright coupon purchase.
In a series of such purchases that began in early December, the Fed has so far bought roughly $30 billion of these agency securities toward its goal of up to $100 billion.
The Fed in November said it would buy these notes, as well as up to $500 billion in agency-issued mortgage bonds, aiming to cut mortgage rates and revive the housing market. (Reporting by Kristina Cooke and Richard Leong; Editing by James Dalgleish)