Asset purchase programme: Difference between revisions
imported>Doug Williamson (Add links.) |
(Update for 2022 & 2023 wind-down.) |
||
| (One intermediate revision by one other user not shown) | |||
| Line 5: | Line 5: | ||
1. ''European Central Bank (ECB).'' | 1. ''European Central Bank (ECB).'' | ||
The ECB's asset purchase programme | The ECB's asset purchase programme was similar to quantitative easing in other jurisdictions. | ||
The APP's main purpose | The APP's main purpose was to prevent deflation, and support meeting the ECB's inflation target, during a period when inflation was lower than the target figure. | ||
The APP | The APP comprised the third covered bond purchase programme (CBPP3, launched in 2014), the asset-backed securities purchase programme (ABSPP, launched in 2014), the public sector purchase programme (PSPP, launched in 2015) and the corporate sector purchase programme (CSPP, launched in 2016). | ||
APP net asset purchases involved a total amount of €2.6 trillion in the period ended December 2018. | APP net asset purchases involved a total amount of €2.6 trillion in the period ended December 2018. | ||
| Line 16: | Line 16: | ||
The APP was suspended at the end of 2018, and resumed in November 2019. | The APP was suspended at the end of 2018, and resumed in November 2019. | ||
In 2022 it began a process of winding down its operations, although it can be revived again in future as needed. | |||
| Line 24: | Line 26: | ||
== See also == | == See also == | ||
* [[Asset- | * [[Asset-backed securities purchase programme]] | ||
* [[Asset Purchase Facility]] | * [[Asset Purchase Facility]] | ||
* [[Balance sheet reduction policy]] | * [[Balance sheet reduction policy]] | ||
* [[Cash in the new post-crisis world]] | * [[Cash in the new post-crisis world]] | ||
* [[Central bank]] | * [[Central bank]] | ||
* [[Corporate | * [[Corporate sector purchase programme]] | ||
* [[Covered | * [[Covered bond purchase programme]] | ||
* [[Deflation]] | * [[Deflation]] | ||
* [[European Central Bank]] | * [[European Central Bank]] | ||
| Line 39: | Line 41: | ||
* [[Money supply]] | * [[Money supply]] | ||
* [[Quantitative easing]] | * [[Quantitative easing]] | ||
* [[Public | * [[Public sector purchase programme]] | ||
* [[POMO]] | * [[POMO]] | ||
* [[Recession]] | * [[Recession]] | ||
* [[Unconventional monetary policy]] | * [[Unconventional monetary policy]] | ||
[[Category: | [[Category:Financial_products_and_markets]] | ||
[[Category:Identify_and_assess_risks]] | |||
[[Category:Investment]] | [[Category:Investment]] | ||
[[Category:Long_term_funding]] | [[Category:Long_term_funding]] | ||
[[Category:Manage_risks]] | [[Category:Manage_risks]] | ||
[[Category: | [[Category:The_business_context]] | ||
Latest revision as of 18:26, 11 November 2023
Monetary policy.
(APP).
1. European Central Bank (ECB).
The ECB's asset purchase programme was similar to quantitative easing in other jurisdictions.
The APP's main purpose was to prevent deflation, and support meeting the ECB's inflation target, during a period when inflation was lower than the target figure.
The APP comprised the third covered bond purchase programme (CBPP3, launched in 2014), the asset-backed securities purchase programme (ABSPP, launched in 2014), the public sector purchase programme (PSPP, launched in 2015) and the corporate sector purchase programme (CSPP, launched in 2016).
APP net asset purchases involved a total amount of €2.6 trillion in the period ended December 2018.
The APP was suspended at the end of 2018, and resumed in November 2019.
In 2022 it began a process of winding down its operations, although it can be revived again in future as needed.
2.
Similar activities undertaken by other central banks.
See also
- Asset-backed securities purchase programme
- Asset Purchase Facility
- Balance sheet reduction policy
- Cash in the new post-crisis world
- Central bank
- Corporate sector purchase programme
- Covered bond purchase programme
- Deflation
- European Central Bank
- Fiscal policy
- Helicopter money
- Modern Monetary Theory
- Monetary policy
- Money supply
- Quantitative easing
- Public sector purchase programme
- POMO
- Recession
- Unconventional monetary policy
