Banks, Financial Services, Latvia

International Internet Magazine. Baltic States news & analytics Sunday, 16.06.2019, 08:28

Latvian bonds worth EUR 2.077 bn purchased under ECB program by late 2018

BC, Riga, 07.01.2019.Print version
Latvian bonds worth EUR 2.077 bn were purchased under the European Central Bank's (ECB) Public Sector Purchase Program (PSPP) by the end of 2018, according to information published by the ECB, informed LETA.

EUR 3.163 bn worth of Lithuanian bonds and EUR 7 mln worth of Estonian bonds had also been purchased by last year.

In December 2018, Latvian securities were bought for EUR 12 mln and Lithuanian securities for EUR 21 mln under the ECB program. Estonian securities were not purchased under the program in December.

The total value of bonds purchased under the PSPP program by the end of December 2018 was EUR 2.171 trillion, of which EUR 12.961 bn worth of bonds were purchased in December last year.

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 now comprises four programs: the PSPP, the CBPP3 (the covered bond purchase program), the ABSPP (the asset-backed securities purchase program) and the latest addition - the CSPP (the corporate sector purchase program).

From October 2018 to the end of the year, the net amount of monthly purchases under the program was EUR 15 bn. The purchases of securities have been discontinued this year.

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