Fed snaps up $1.3 billion in corporate bond ETFs and we finally know which funds it's been buying

The Federal Reserve has snapped up more than $1.3 billion in corporate bond ETFs since it has started an unprecedented intervention in the market.

Information the central bank released Friday shows that the biggest purchase was of the iShares iBoxx US Dollar Investment Grade Corporate Bond fund, at $326.3 million of market value through May 19. The $1.6 trillion iShares fund family is administered by BlackRock, which in turn is directing the purchases for the New York Fed's bond-buying program.