The European Central Bank (ECB) is set to change its rules to allow it to buy asset-backed securities with junk ratings issued by Greek and Cypriot banks.
The ECB’s executive board, meeting Thursday (2 October), is to propose that its requirements on the quality of assets that can be bought by the bank are relaxed to buy the safer ABS issued by the two Mediterranean countries, the Financial Times reports.
It will also launch an asset purchase programme to buy debt products from ba...
Enjoy access to all articles and 25 years of archives, comment and gift articles. Become a member for as low as €1,75 per week.
Already a member? Login