Covered bond purchase programme

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Monetary policy - Eurosystem - Asset Purchase Programme.

(CBPP3).

The Eurosystem's covered bond purchase programme is part of its asset purchase programme, and is coordinated by the European Central Bank (ECB).

Assets eligible for purchase are prime euro-denominated covered bonds, issued by credit institutions established in the euro area.


The first covered bond purchase programme (CBPP1) was established in 2009.


The third covered bond purchase programme (CBPP3) was established in 2014.


See also