ECB hires BlackRock to design ABS programme

European Central Bank

The European Central Bank (ECB) has hired BlackRock to help design a programme for buying asset-backed securities (ABS) – a policy it could announce as early as next week as European economic data continues to disappoint.

After the governing council's August meeting, ECB president Mario Draghi revealed the central bank would be hiring an outside consultant as part of its preparations for conducting "outright purchases" of ABS.

Today a spokesperson confirmed that BlackRock had been "selected to p