Pandemic emergency purchase programme
Monetary policy - Eurosystem - COVID-19.
(PEPP).
The Eurosystem's pandemic emergency purchase programme is an extension of its asset purchase programme, and is coordinated by the European Central Bank (ECB).
All assets eligible for purchase under the asset purchase programme are also eligible under the PEPP.
In addition, the eligibility criteria are expanded to include a greater range of assets.
The PEPP was established in March 2020.
On 14 December 2023 the Governing Council of the ECB announced that it intends to continue to reinvest, in full, the principal payments from maturing securities purchased under the PEPP during the first half of 2024 and to reduce the PEPP portfolio by €7.5 billion per month on average over the second half of the year.
At the same time, the Governing Council announced that it intends to discontinue reinvestments under the PEPP at the end of 2024.
See also
- Asset-backed securities purchase programme
- Asset purchase programme
- Bond
- Central bank
- Corporate sector purchase programme
- Covered bond purchase programme
- COVID-19
- Development bank
- euro
- Euro area
- European Central Bank
- Eurosystem
- Governing Council of the European Central Bank
- Helicopter money
- Investment grade
- Modern Monetary Theory
- Monetary policy
- Money supply
- Pandemic
- Prime
- Public sector purchase programme
- Quantitative easing
- Unconventional monetary policy
