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Net Asset Purchases Continue To Slide ... Slowly

ECB

ECB net asset purchases came in at negative E16.0bln in the week ending August 11, vs an average of negative E9bln in the previous 4-week period.

  • PEPP holdings fell by E4.8bln: this was net of E8.4bln in redemptions offset by E3.6bln in gross purchases.
  • APP net purchases came in at -11.1bln, made up largely of PSPP net purchases of -10.4bln. The APP has fallen by E48bln since the start of July when uncapped runoff began (estimated to run at E25bln/month).
  • The asset portfolio is now E150bln smaller than the Jun 2022 peak but remains very large at E4.81T. That is E2.1T higher than in March 2020.


ECB Net Asset Purchases W/EPSPP Cov BdCSPPABSPEPPTOTAL
2-Jun-232.1-0.3-0.6-0.10.61.8
9-Jun-23-0.2-1.2-0.80.11.1-0.9
16-Jun-23-8.1-0.6-0.5-0.1-3.1-12.4
23-Jun-23-1.70.10.1-0.30.3-1.6
30-Jun-23-3.2-0.8-0.6-0.1-2.7-7.3
7-Jul-23-0.50.0-0.60.02.41.3
14-Jul-23-1.1-0.4-1.70.03.70.4
21-Jul-23-13.90.0-0.4-0.3-4.1-18.8
28-Jul-23-4.6-0.5-0.5-0.11.3-4.4
4-Aug-23-11.9-0.20.0-0.1-2.8-15.0
11-Aug-230.00.00.00.02.42.3
18-Aug-23-10.40.0-0.6-0.1-4.8-16.0

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