ECB ends second covered bond programme


The European Central Bank has ended its covered bond purchase programme 2 on schedule. The programme was set up following a decision by the central bank's governing council in October 2011 to purchase covered bonds to ease funding conditions for banks and encourage credit institutions to lend.

Since November 2011, the ECB purchased a total of €16.418 billion covered bonds on the primary and secondary markets. This was well short of the initial target of €40 billion.

The ECB said on April 4 that

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