Fed starts bond purchases under ramped up liquidity program

March 13 (Reuters) - The Federal Reserve on Friday launched a wave of $37 billion of Treasury security purchases under the enhanced market liquidity measures it announced on Thursday to address volatile conditions in the government bond market caused by the coronavirus outbreak.

The Federal Reserve Bank of New York, the market agent for the Fed system, said purchases began at 1030 EDT (1430 GMT) and would continue into the afternoon as it targeted five different maturity sectors. (Reporting By Dan Burns Editing by Chizu Nomiyama)