ECB to stop buying CPT covered bonds

ECB 230x150 euro sculpture
By Bill Thornhill
28 Nov 2017

The European Central Bank will stop buying conditional pass-through (CPT) covered bonds from sub-investment grade issuers from February 2018.

The ECB said in a public disclosure that “in view of the potentially higher risks to which they expose the Eurosystem” covered bonds “shall be excluded from purchases under the CBPP3 … [when] they have a conditional pass-through structure… and they are issued by an entity with ...

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