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FIGCovered Bonds

ECB to avoid aggressive purchases on CBPP3

The ECB will refrain from aggressive purchasing during the third covered purchase programme (CBPP3). Ulrich Bindseil, director general of market operations at the European Central Bank, and the lead architect of the programme, told GlobalCapital in an interview last Friday. He said that he expects CBPP3 to lead to tighter spreads which will encourage more issuance.

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