Local
articles | 04 June 2020

ECB buys €481 million of Cypriot bonds as part of PEPP

The European Central Bank (ECB) has bought Cypriot bonds amounting to €481 million as part of the €750 billion Pandemic Emergency Purchase Programme (PEPP) launched as a response to the coronavirus outbreak.

The new purchases by the ECB, coupled with the bonds acquired in the context of the Public Securities Purchase Programme (PSPP) bring the total Cypriot eligible debt held by the ECB to approximately €3 billion.

According to the data published by the ECB, monthly purchases of Cypriot bonds for the period of March – May amounted to €481 million with the weighted average of the acquired bonds at 8.2 years.

Furthermore, Cypriot bond net purchases in the context of the PSPP amounted to €92 by end-May with the total purchases under the PSPP amounting to €2.4 billion with a weighted average of 9.,25 years.

Furthermore, analysts estimate that the ECB Governing Council which convenes tomorrow, may decide to increase the PEPP’s firepower as the emergency programme’s firepower may run out by September.

Source: In-Cyprus

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