ECB to purchase securities worth 750bln euro to maintain financial stability
The Governing Council of the European Central Bank (ECB) has announced the launch of its program to purchase securities worth 750 billion euro to maintain financial stability amid the novel coronavirus outbreak, the organization said on its website.
"The Governing Council decided <…> to launch a new temporary asset purchase programme of private and public sector securities to counter the serious risks to the monetary policy transmission mechanism and the outlook for the euro area posed by the outbreak and escalating diffusion of the coronavirus, COVID-19," ECB said in a statement.
The new Pandemic Emergency Purchase Programme (PEPP) will have an overall envelope of ˆ750 billion. It will be conducted until the end of 2020 and "will include all the asset categories eligible under the existing asset purchase programme (APP)."
The ECB will conclude the program once it judges that the coronavirus Covid-19 crisis phase is over, but "in any case not before the end of the year."
Source
"The Governing Council decided <…> to launch a new temporary asset purchase programme of private and public sector securities to counter the serious risks to the monetary policy transmission mechanism and the outlook for the euro area posed by the outbreak and escalating diffusion of the coronavirus, COVID-19," ECB said in a statement.
The new Pandemic Emergency Purchase Programme (PEPP) will have an overall envelope of ˆ750 billion. It will be conducted until the end of 2020 and "will include all the asset categories eligible under the existing asset purchase programme (APP)."
The ECB will conclude the program once it judges that the coronavirus Covid-19 crisis phase is over, but "in any case not before the end of the year."
Source