The Federal Reserve’s Large-Scale Asset Purchase (LSAP) Programs
|LSAP1||Nov. 2008||Agency mortgage-backed securities (MBS) and agency debt||$600 billion|
|Mar. 2009||Agency securities||$850 billion|
|Mar. 2010||Longer-term US Treasury securities||$300 billion|
|LSAP2||Nov. 2010||Jun. 2011||Longer-term US Treasury securities||$600 billion|
|Maturity extension program (MEP)||Sep. 2011||US Treasury securities with remaining maturities of six to 30 years||$400 billion|
|Jun. 2012||Dec. 2012||US Treasury securities with remaining maturities of six to 30 years|
|LSAP3||Sep. 2012||Oct. 2014||Agency MBS||$40 billion per month2|
|Dec. 2012||Oct. 2014||Longer-term US Treasury securities||$45 billion per month2|
Initially announced amount of asset purchases for each program or program expansion.
The purchases were open-ended when they were announced. The Federal Reserve started to taper the asset purchases in January 2014, and eventually halted the purchases altogether in October 2014.