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FIGCovered Bonds

Trichet gives colour on programme rationale

Jean-Claude Trichet, president of the European Central Bank, gave the most extensive explanation, albeit still brief, of the ECB’s rationale for launching its Eu60bn covered bond purchase programme in a speech delivered this (Friday) morning. Yesterday (Thursday) the ECB had confirmed expectations that spending under the programme in August was almost entirely concentrated on the secondary market.

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