RealMoneyIssues' Account Talk

[RealMoneyIssues]

Tentative Outright Treasury Operation Schedule


The Desk plans to purchase approximately $44 billion in Treasury securities over the month of February. This amount is approximately $1 billion less than the stated pace of $45 billion per month, given that purchases conducted in January exceeded the target by approximately $1 billion.

[TABLE="class: grid, width: 100%"]
[TR]
[TH="width: 18%"]

Operation Date[SUP]1[/SUP]
​

[/TH]
[TH="width: 19%"]

Settlement Date​

[/TH]
[TH="width: 19%"]

Operation Type​

[/TH]
[TH="width: 24%"]

Maturity Range​

[/TH]
[TH="width: 20%"]

Expected Purchase Size​

[/TH]
[/TR]
[TR]
[TD]February 19, 2013[/TD]
[TD]February 20, 2013[/TD]
[TD]Outright Treasury Coupon Purchases[/TD]
[TD]02/15/2036 – 02/15/2043[/TD]
[TD]$1.25 - $1.75 billion[/TD]
[/TR]
[TR]
[TD="bgcolor: #EAEAEA"]February 20, 2013[/TD]
[TD="bgcolor: #EAEAEA"]February 21, 2013[/TD]
[TD="bgcolor: #EAEAEA"]Outright Treasury Coupon Purchases[/TD]
[TD="bgcolor: #EAEAEA"]05/15/2020 – 02/15/2023[/TD]
[TD="bgcolor: #EAEAEA"]$2.75 - $3.50 billion[/TD]
[/TR]
[TR]
[TD]February 21, 2013[/TD]
[TD]February 22, 2013[/TD]
[TD]Outright Treasury Coupon Purchases[/TD]
[TD]11/30/2018 – 02/15/2020[/TD]
[TD]$3.00 - $3.75 billion[/TD]
[/TR]
[TR]
[TD="bgcolor: #EAEAEA"]February 22, 2013[/TD]
[TD="bgcolor: #EAEAEA"]February 25, 2013[/TD]
[TD="bgcolor: #EAEAEA"]Outright Treasury Coupon Purchases[/TD]
[TD="bgcolor: #EAEAEA"]02/15/2036 – 02/15/2043[/TD]
[TD="bgcolor: #EAEAEA"]$1.25 - $1.75 billion[/TD]
[/TR]
[TR]
[TD]February 25, 2013[/TD]
[TD]February 26, 2013[/TD]
[TD]Outright Treasury Coupon Purchases[/TD]
[TD]05/15/2020 – 02/15/2023[/TD]
[TD]$2.75 - $3.50 billion[/TD]
[/TR]
[TR]
[TD="bgcolor: #EAEAEA"]February 26, 2013[/TD]
[TD="bgcolor: #EAEAEA"]February 27, 2013[/TD]
[TD="bgcolor: #EAEAEA"]Outright Treasury Coupon Purchases[/TD]
[TD="bgcolor: #EAEAEA"]02/15/2036 – 02/15/2043[/TD]
[TD="bgcolor: #EAEAEA"]$1.25 - $1.75 billion[/TD]
[/TR]
[TR]
[TD]February 27, 2013[/TD]
[TD]February 28, 2013[/TD]
[TD]Outright Treasury Coupon Purchases[/TD]
[TD]02/28/2017 – 11/15/2017[/TD]
[TD]$4.25 - $5.25 billion[/TD]
[/TR]
[TR]
[TD="bgcolor: #EAEAEA"]February 28, 2013[/TD]
[TD="bgcolor: #EAEAEA"]March 1, 2013[/TD]
[TD="bgcolor: #EAEAEA"]Outright Treasury Coupon Purchases[/TD]
[TD="bgcolor: #EAEAEA"]02/15/2036 – 02/15/2043[/TD]
[TD="bgcolor: #EAEAEA"]$1.25 - $1.75 billion[/TD]
[/TR]
[/TABLE]
The next release of the tentative outright Treasury operation schedule will be at 2 p.m. on February 28, 2013. At that time the Desk will publish information on transaction prices for securities included in the operations listed above.

Tentative Outright Treasury Operation Schedule - Federal Reserve Bank of New York

 

[ILoveTDs]

Hopefully we will soon be able to fly a spaceship to another planet to start screwing that one up too

Space Ships, Space Ships!!!!!!!!!

 

[RealMoneyIssues]

 

[RealMoneyIssues]

Greek Labor Unions Strike as Samaras Implements Austerity - Bloomberg

Glad we won't have this problem here in the good 'ole USA!!

 

[RealMoneyIssues]

 

[RealMoneyIssues]

Yeah, my daughter sent that youtube link to me... a little out there, but funny nonetheless

I am sure she (Navy) and her husband (Army) have heard much stupider stuff than I have since they hang around with today's young folks... The stupidest thing I hear on a regular basis is "hey, I know someone in the navy, do you know him, he is stationed in Diego Garcia. His name is John Smith?" uh, there are 300k+ of us and 4000 john smiths... really?

Anyway, to everyone have does or has served. Thank You !

 

[WorkFE]

Heard everyone of them. Very funny. Thanks

 

[rktect1]

Crap thats just the tip of the ice burg.

 

[RealMoneyIssues]

 

[RealMoneyIssues]

Grrrr

Soldier sues mortgage company over rate - Navy News | News from Afghanistan & Iraq - Navy Times

 

[RealMoneyIssues]

Hey Frixxxx, hungry for Pizza?

Gun owners get discount at Va. Beach pizza shop

 

[Frixxxx]

Grrrr

Soldier sues mortgage company over rate - Navy News | News from Afghanistan & Iraq - Navy Times

Would love to have checked the ammorization charts before agreeing to that deal.

Hey Frixxxx, hungry for Pizza?

Gun owners get discount at Va. Beach pizza shop

I can't qualify for the discount (yet) but pepperoni, mushroom, anchovies, Xtra onion, Xtra Cheese....yummy.....Next week when I get back from Cali!

 

[bmneveu]

Grrrr

Soldier sues mortgage company over rate - Navy News | News from Afghanistan & Iraq - Navy Times

12.99%?! Ouch.

 

[RealMoneyIssues]

I can't qualify for the discount (yet) but pepperoni, mushroom, anchovies, Xtra onion, Xtra Cheese....yummy.....Next week when I get back from Cali!

Uh, no anchovies... sorry

 

[RealMoneyIssues]

Would love to have checked the ammorization charts before agreeing to that deal.

12.99%?! Ouch.

Um, here is what they did:

Rate before deployment:
12.99% (mucho interest, not much principle)

SCRA (supposed to reduce int rate to 6%[or less]):
6% (less interest, more principle)

Citibank Logic:
12.99% interest and reduce payment to match what 6% would be (same interest, less principle)

For Example (don't know where he was in amortization, so rounding to make it easier):

Before:
$1000 Payment (12.99%)
$100 Principle
$900 Interest

SCRA:
$800 Payment
$120 Principle
$680 Interest

Citi:
$800 Payment
$100 Principle
$700 Interest

That was CROOKED.

Am I misreading this law? Any lawyers out there?

None of my creditors did this to me... 2 of them said no interest and no payment...

§ 527. Maximum rate of interest on debts incurred before military service
[Sec. 207]

(a) Interest rate limitation.

. (1) Limitation to 6 percent. An obligation or liability bearing interest at a rate in excess of 6 percent per year that is incurred by a servicemember, or the servicemember and the servicemember's spouse jointly, before the servicemember enters military service shall not bear interest at a rate in excess of 6 percent –

. (A) during the period of military service and one year thereafter, in the case of an obligation or liability consisting of a mortgage, trust deed, or other security in the nature of a mortgage; or

. (B) during the period of military service, in the case of any other obligation or liability.5

. (2) Forgiveness of interest in excess of 6 percent. Interest at a rate in excess of 6 percent per
year that would otherwise be incurred but for the prohibition in paragraph (1) is forgiven.

. (3) Prevention of acceleration of principal. The amount of any periodic payment due from a servicemember under the terms of the instrument that created an obligation or liability covered by this section shall be reduced by the amount of the interest forgiven under paragraph (2) that is allocable to the period for which such payment is made.

(b) Implementation of limitation.

. (1) Written notice to creditor. In order for an obligation or liability of a servicemember to be subject to the interest rate limitation in subsection (a), the servicemember shall provide to the creditor written notice and a copy of the military orders calling the servicemember to military service and any orders further extending military service, not later than 180 days after the date of the servicemember's termination or release from military service.

. (2) Limitation effective as of date of order to active duty. Upon receipt of written notice and a copy of orders calling a servicemember to military service, the creditor shall treat the debt in accordance with subsection (a), effective as of the date on which the servicemember is called to military service.

(c) Creditor protection. A court may grant a creditor relief from the limitations of this section if, in the opinion of the court, the ability of the servicemember to pay interest upon the obligation or liability at a rate in excess of 6 percent per year is not materially affected by reason of the servicemember's military service.

(d) Definitions.6 In this section:

. (1) Interest. The term “interest” includes service charges, renewal charges, fees, or any other charges (except bona fide insurance) with respect to an obligation or liability.

. (2) Obligation or liability. The term “obligation or liability” includes an obligation or liability consisting of a mortgage, trust deed, or other security in the nature of a mortgage.

(e) Penalty. Whoever knowingly violates subsection (a) shall be fined as provided in title 18, United States Code, imprisoned for not more than one year, or both.7

Notes:
5 The definition of an obligation as either a mortgage debt or “any other obligation” was an amendment established by §2203 of P.L. 111-289, effective July 30, 2008.
6 The definitions of “interest” and “obligation or liability” were added by §2203 of P.L. 111-289, effective July 30, 2008.
7 The penalty provision of subsection (e) was added by P.L. 110-389, effective October 10, 2008.

 

[rktect1]

I think it was a reference to the 12.99% mortgage loan. But this was back in 1997 which was normal, i suppose.

 

[RealMoneyIssues]

I think it was a reference to the 12.99% mortgage loan. But this was back in 1997 which was normal, i suppose.

True, but it was probably still high...

 

[bmneveu]

True, but it was probably still high...

wow he got hosed

 

[RealMoneyIssues]

wow he got hosed

Could have had bad credit...

 

[RealMoneyIssues]

Well, I am negative for the year and my AT is 1027... Not the best start for the year... If there isn't a big pop between now and next Thursday, I could see my PIP taking a big hit.

Congrats to all those at 8%+, smart moves!!!