ECB: Total Of Settled Covered Bond Buys Hit EUR25.135 Billion
Thursday
FRANKFURT -(Dow Jones)- The European Central Bank and the euro zone's 16
national central banks reduced their purchases of covered bonds Thursday,
bringing the total volume settled to date to EUR25.135 billion, out of a planned
total of around EUR60 billion, ECB data showed Friday.
The data imply that the ECB settled some EUR156 million in purchases Thursday,
slightly less than the three previous days of this week. Covered bonds are
generally issued by banks to refinance loans on commercial or residential
mortgages, or loans to the public sector.
The ECB had previously said it will "gradually" buy covered bonds in both the
primary and the secondary markets, in a program due to stretch "well into next
year." It expects the program to be fully implemented by the end of June 2010,
at the latest.
-By Geoffrey T. Smith, Dow Jones Newswires; +49 69 29 725 520; geoffrey.smith@
dowjones.com
(END) Dow Jones Newswires
11-27-090334ET
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