Cyprus Shows ECB's Holdings Can Go Down as Well as Up: Chart

The European Central Bank reduced its holding of Cypriot bonds last month to prevent it falling foul of regulations governing how much it can own of any single security as part of its quantitative-easing program. A spokesman for the institution said the sale was made necessary by buyback operations conducted by the Cypriot Public Debt Management Office. The Frankfurt-based ECB’s holdings of Cyprus bonds fell 16 million euros ($18.2 million) in March to 269 million euros, according to the data on its public-sector purchase program released Monday.

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