Covered bonds shrink as share of ECB’s balance sheet
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Covered Bonds

Covered bonds shrink as share of ECB’s balance sheet

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The European Central Bank managed to buy more covered bonds on a net basis in February than it did January, but the asset class fell as a proportion of its total asset purchases. In the absence of fresh supply, it was forced to source paper in the secondary market, but at a markedly lower pace than before.

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