The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
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?
by marco - Apr 22 1 comment
by Cyrille - Apr 20 19 comments
by gmoke - Apr 20
by DoDo - Apr 21 5 comments
by Cyrille - Apr 18 32 comments
by Cyrille - Apr 12 32 comments
by ARGeezer - Apr 18 7 comments
by DoDo - Apr 6 39 comments
by marco - Apr 221 comment
by DoDo - Apr 215 comments
by gmoke - Apr 20
by Cyrille - Apr 2019 comments
by ARGeezer - Apr 187 comments
by Cyrille - Apr 1832 comments
by Oui - Apr 163 comments
by Cyrille - Apr 1232 comments
by Cyrille - Apr 86 comments
by DoDo - Apr 639 comments
by aquilon - Apr 3158 comments
by ARGeezer - Mar 3110 comments
by Zwackus - Mar 2910 comments
by DoDo - Mar 279 comments
by Xavier in Paris - Mar 275 comments