Draghi outlines further details of ABS programme

Draghi in darkness
By Owen Sanderson
23 Sep 2014

The European Central Bank chairman Mario Draghi explained further details of the ECB’s proposed ABS purchase programme, during remarks to the European Parliament’s Economic and Monetary Affairs Committee.

He confirmed certain expected features of the programme, explaining that the senior bonds bought by the ECB would be limited to those which are eligible for Eurosystem collateral operations.

This means only investment grade bonds will be eligible, and adds extra requirements such as homogeneous pools and compliance ...

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