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Net Purchases Slow Sharply On Big Redemptions

ECB

ECB net asset purchases fell to E1.2bln in the week to April 22, from E21.5bln a week earlier. Most notably, PEPP asset holdings contracted by E3.9bln, their biggest drawdown of the year (and compared to a E5.3bln rise the previous week).

  • That came amid E9.8bln in redemptions, the most since February and the 3rd most since PEPP began.
  • PSPP net buys fell to E5.0bln from E14.9bln a week prior (reflecting E10.3bln in redemptions, the most since 2020), while covered bond holdings and ABS contracted.
  • CSPP holdings rose by E0.8bln, the only category to rise last week.
ECB Net Asset Purchases W/EPSPP Cov BdCSPPABSPEPPTOTAL
4-Mar-224.7-1.01.1-0.17.712.4
11-Mar-223.0-0.21.60.48.913.6
18-Mar-221.20.21.7-0.27.710.7
25-Mar-225.40.61.50.23.110.9
1-Apr-22-6.3-0.32.4-0.2-1.8-6.1
8-Apr-2211.90.81.80.20.415.1
15-Apr-2214.90.80.40.15.321.5
22-Apr-225.0-0.50.8-0.2-3.91.2

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