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European Central Bank to buy another E750 billion in bonds
By Martin Arnold
Financial Times, London
Thursday, March 19, 2020
FRANKFURT, Germany -- The European Central Bank has announced plans to buy E750 billion more in bonds after holding an emergency call of its rate-setting committee on Wednesday evening in response to the worsening economic and financial market turmoil caused by coronavirus.
The central bank said the extra asset purchases would be carried out by the end of this year and cover both sovereign bonds and corporate debt. Dubbed the Pandemic Emergency Purchase Programme, it would last until the coronavirus crisis is judged to be over.
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The ECB also decided to expand the range of eligible assets to non-financial commercial paper and to ease the collateral standards to allow banks to raise money against more of their assets, including corporate finance claims. ...
... For the remainder of the report:
https://www.ft.com/content/5919c6fb-1f5f-315d-8353-94f04afcf340
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