ECB to Buy Covered Bonds in Primary and Secondary Markets

The European Central Bank said the purchases euro-denominated covered bonds in the euro region for an intended nominal amount of 40 billion euros will be “distrubuted across” the area.

The purchases will be conducted on the primary and secondary markets, the Frankfurt-based central bank said in a statement on its website today. Covered bonds must be eligible for use as collateral in credit operations in order to be qualified for purchases, according to the statement.

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