US Fed sells $8.74bn shorter-term treasuries

NEW YORK: The US Federal Reserve on Monday sold on the open market $8.74 billion of Treasuries maturing April 2012 through September 2012, the New York Fed said on its website.

A total of $171.006 billion of Treasuries were submitted in the sale, the New York Fed said.

The sale was part of the Fed's latest stimulus program, dubbed "Operation Twist" a $400 billion program that extends the maturity of the central bank's Treasuries holdings in a bid to lower mortgage rates and other long-term borrowing costs.