(Reuters) – The Federal Reserve’s new facility for company bond purchases purchased about $1.three billion of shares in 15 exchange-traded funds in its first week of operation via 158 trades, knowledge launched Friday confirmed. The Secondary Market Company Credit score Facility made the purchases from 10 securities companies between its launch on Could 12 and Could 18, the info confirmed within the Fed’s first detailed disclosure of the SMCCF’s transactions. The ability is one in all almost a dozen emergency applications the Fed has rolled out since March to reply to the financial disaster brought on by the novel coronavirus pandemic. The Fed slashed rates of interest to close zero in March and has launched a spread of asset-purchase applications to bolster the circulate of credit score to U.S. firms and households. Till the well being disaster, the Fed had centered its asset purchases on U.S. Treasuries and mortgage-backed securities from government-sponsored entities reminiscent of Fannie Mae and Freddie Mac. The SMCCF’s purchases of bond ETFs symbolize totally new territory for the Fed. Its largest holding as of Could 19 at $326.three million was the iShares iBoxx US Greenback Funding Grade Company Bond ETF (LQD.P), the third largest U.S. taxable bond ETF, based on Lipper knowledge. The fund’s largest holdings are bonds from such banks as Bank of America Corp (BAC.N), JPMorgan Chase & Co (JPM.N), Wells Fargo & Co (WFC.N) and Goldman Sachs Group Inc (GS.N) in addition to telecom operators AT&T Inc (T.N) and Verizon Communications Inc (VZ.N). The ability additionally purchased shares in six of the seven largest ETFs dedicated to high-yield – or junk – bonds, accounting for $223.four million, of 17% of its general portfolio. The most important junk ETF holding was the iShares iBoxx Excessive Yield Company Bond ETF (HYG.P) at simply over $100 million. The funding offers it publicity to the bonds of such firms as wi-fi provider Dash Corp (S.N) and hospital chain operator Tenet Healthcare Corp (THC.N). Reporting By Dan Burns; modifying by Grant McCoolOur Requirements:The Thomson Reuters Belief Ideas.