FRANKFURT (MNI)- The following is the text of a press release
issued today by the European Central Bank:
On 7 May 2009 the Governing Council of the European Central Bank
(ECB) decided on the Covered Bond Purchase Programme (CBPP), the
technical modalities of which were published on 4 June 2009. The
purchases of covered bonds started in July 2009.
The aim of the programme has been to support a specific financial
market segment that is important for the funding banks and that had been
particularly affected by the financial crisis. The purchases under the
programme were to be for a nominal value of EUR 60 billion and they were
expected to be fully implemented by 30 June 2010.
Today, the CBPP has indeed been fully implemented. As announced
last year the nominal amount of EUR 60 billion has been purchased on the
primary and secondary markets.
The Eurosystem central banks intend to keep the purchased covered
bonds until maturity. More information on the CBPP will be provided in
the regular Monthly Report which will be published on 8 July 2010.
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