ECB Said to Agree Legal Texts for Covered-Bond Purchase Plan
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The European Central Bank agreed on the legal framework for its covered-bond program, bringing it a step closer to asset purchases designed to help boost inflation.
The ECB’s Governing Council signed off yesterday on two acts that officially establish the measure and lay out how it will be implemented, according to two euro-area officials, who asked not to be identified because the discussions aren’t public. Purchases may not be immediate, and one of the people said policy makers still need to agree on issues including accounting.