ECB makes big shifts in ABSPP

By David Bell
24 Sep 2015

The European Central Bank has handed more responsibility for ABS purchases to national central banks, in an attempt to rejuvenate an ABS purchase programme (ABSPP) described as ‘disappointing’ on Wednesday morning by ECB Governing Council member Ewald Nowotny.

The Governing Council of the ECB has decided to increase the proportion of purchases by national central banks rather than external managers in the ABSPP. As of 27 October 2015, the National Bank of Belgium will act as an additional Eurosystem asset manager executing purchases, and Banque de ...

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