Covered bond purchase programme a success: ECB paper
A European Central Bank paper published in January said the Eurosystem's purchases of covered bonds successfully stimulated activity in the euro area and was an effective policy instrument.
John Beirne, Lars Dalitz, Jacob Ejsing, Magdalena Grothe, Simone Manganelli, Fernando Monar, Benjamin Sahel, Matjaž Sušec, Jens Tapking and Tana Vong, the paper's authors, look at the impact the Eurosystem's covered bond purchase programme, announced on 7 May, 2009, had on both the primary and secondary
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