Abstract
In response to the GFC, the ECB undertook a number of unconventional monetary policy measures of outright asset purchases. To stabilize banks and to foster lending activity by improving the funding conditions of the financial sector, the ECB initiated three CBPPs. While it acquired €60.0 billion and €16.4 billion in covered bonds for CBPP1 and CBPP2, respectively, purchases of approximately €10 billion per month were conducted under CBPP3.
This Section is co-authored by Ferdinand Mager, Jan Mutl, and Nico B. Rottke.
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Markmann, H. (2018). Short-term Announcement Impact on the Secondary Market. In: Covered Bonds under Unconventional Monetary Policy. Essays in Real Estate Research. Springer Gabler, Wiesbaden. https://doi.org/10.1007/978-3-658-20975-9_6
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DOI: https://doi.org/10.1007/978-3-658-20975-9_6
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