Data released by the US Federal Reserve (Fed) on Thursday showed that the central bank kept lowering its holdings of US Treasuries.

For the week ending July 24, the average daily figure of Fed holdings of US Treasury securities dropped 808 million US dollars to 2,094,026 million dollars.

The majority of US Treasury securities that the Fed holds were longer term securities issued by the US government like Treasury notes and Treasury bonds, which totaled 1,954,371 million dollars, according to the Fed.

The US Federal Reserve purchased government-issued securities and other securities like Mortgage-backed securities (MBS) from the market in order to boost the money supply and encourage lending and investment after the 2008 financial crisis.

The unconventional monetary policy, commonly known as "Quantitative Easing," left the central bank with a massive holding of securities.

Meanwhile, the data also showed that the central bank was lowering its holding of the MBS. The average daily figure of MBS holdings dropped 5,509 million dollars to 1,524,796 million dollars for the week ending July 24.

In March, the Fed stated that it intends to conclude the reduction of its aggregate securities holdings at the end of September. The process, known as Balance Sheet Normalization, started in October 2017.