An industry group sponsored by the New York Federal Reserve that promotes best practices in the US Treasury market said on Tuesday it is expanding its focus to include agency debt and agency mortgage-backed securities. The Treasury Market Practices Group said in a statement that the expansion reflects the "extensive overlap" of trading and settlement structures and investors across the Treasury, agency debt and agency MBS markets. The group said it will focus on trading and settlement in the $2.7trn market for agency debt issued or guaranteed by Fannie Mae, Freddie Mac and Federal Home Loan Banks and in the $5trn market for MBS issued or guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae.