ECB offers details on ABS purchases

摘要

The ECB finally opened up to a little more disclosure on its European ABS purchase programme last week, detailing the monthly breakdown of its purchases and the split between primary and secondary market bonds. Ever since the scheme launched in November 2014 market participants have complained about a lack of transparency in the process, as each Monday nothing more than a combined total had been provided for newly issued bonds that had settled by the previous Friday and secondary market purchases. But last week, the central bank showed how much it had bought each month, and the split between primary and secondary acquisitions to bring the level of disclosure in line with that of covered bonds. They both fall short of the public debt disclosure levels, however, for which a country breakdown is available.