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Large Redemptions Offset Sizeable Gross Purchases

ECB

ECB asset purchases flipped from net positive to net negative in the week ending Sep 9, though this reflected a very large E14.4bln in PSPP (E8.1bln) and PEPP (E6.3bln) redemptions.

  • Gross purchases in the week were a sizeable E15.1bln.
  • When redemptions were considered though, PSPP, PEPP, and Covered Bond holdings all subtracted from the headline figure. ABS were unchanged.
  • The ECB's asset purchase holdings have remained relatively steady following the end of net APP buys in July, now down a total of E8.3bln on a E4.95trn portfolio.


ECB Net Asset Purchases W/EPSPP Cov BdCSPPABSPEPPTOTAL
22-Jul-224.7-0.70.3-0.4-1.22.8
29-Jul-22-0.50.20.3-0.32.42.2
5-Aug-22-2.1-1.7-0.60.0-2.3-6.7
12-Aug-220.80.30.10.00.01.2
19-Aug-220.80.20.1-0.22.43.3
26-Aug-221.00.30.2-0.3-2.5-1.2
2-Sep-220.2-0.1-0.20.01.11.0
9-Sep-22-0.5-0.40.40.0-0.7-1.2

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