Banks, EU – Baltic States, Financial Services, Latvia

International Internet Magazine. Baltic States news & analytics Friday, 26.04.2024, 04:28

Bank of Latvia buys EUR 211.3 million worth of securities under ECB program in July

BC, Riga, 29.08.2016.Print version
In July 2016, the Bank of Latvia bought securities worth EUR 211.3 mln under the European Central Bank's (ECB) public sector purchase program (PSPP), according to the information released by the central bank. Since the launch of the PSPP in March 2015, the Bank of Latvia has bought EUR 3.34 billion worth of securities issued by the Latvian government and international organizations located in the eurozone, including EUR 1.81 billion worth of securities in 2015.

The securities purchase program was launched in March 2015 pursuing the Eurosystem's (comprising the ECB and national central banks of the euro area) objective of keeping medium-term inflation rates below, but close to, 2 percent. The expanded assets purchase program encompasses three programs: the PSPP, CBPP3 (the covered bond purchase program) and ABSPP (the asset-backed securities purchase program).

 

Under the ECB program, the Bank of Latvia, just like the central banks of all other eurozone countries, is expected to buy up local government bonds and supranational securities.


According to the ECB information, Latvian bonds worth EUR 27 mln were purchased under the PSPP in July this year. The total amount of Latvian bonds purchased under the program since its launch in March 2015 is EUR 1.05 billion, and their average maturity period is 6.56 years.





← Back↑ Up

Русский
Search site