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I linked the following FT blog by Emma Saunders, from 11 March. I picked up the covered bond purchase number (4.8 billion) instead of the securities markets programme number (13.1 billion), being the holdings of the ECB at end of 2010.
Eurosystem bond profit - correction | Money Supply | News, data and opinions on market-moving economics from the Financial Times - FT.com
To set the record straight, ECB national accounts show that the central bank held more like 18 per cent than 8 per cent of bonds bought to aid sovereigns in distress.
17.8 per cent of them as at end 2010, to be precise. At the end of December, the total stock of bonds purchased was 73.5bn, and 13.1/73.5 is 17.8 per cent.
(Sorry for the 10 billion euro difference.)
The takeaway point is that, in the 5-and-a-bit months to June 11, the ECB has increased its holdings in the securities markets programme phenomenally :
13 to 75 billion on the SMP (62 billion net purchases)
I've no idea what proportion of the stock of distressed sovereign bonds that represents... any ballpark numbers around?
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