Draghi Opens Door to Buying $18 Billion of Portuguese, Greek ABS
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Mario Draghi’s decision to allow the European Central Bank to buy asset-backed securities from junk-rated nations gives him an extra 14 billion euros ($18 billion) of debt for his purchase program.
The ECB President’s ruling allows him to buy as much as 11.2 billion euros of ABS from Portugal and 2.7 billion euros from Greece, according to data compiled by JPMorgan Chase & Co. Both nations hold sub-investment grade rankings.