{"id":19269,"date":"2020-03-19T01:34:36","date_gmt":"2020-03-18T23:34:36","guid":{"rendered":"https:\/\/bestinsurance.gr\/a1\/?p=19269"},"modified":"2020-03-19T01:34:36","modified_gmt":"2020-03-18T23:34:36","slug":"ecb-announces-750-billion-euro-pandemic-bond-buying-program","status":"publish","type":"post","link":"https:\/\/bestinsurance.gr\/a1\/archives\/19269","title":{"rendered":"ECB Announces 750 Billion Euro Pandemic Bond-Buying Program"},"content":{"rendered":"<section class=\"news-rsf-text-headlines\">\n<h1>ECB Announces 750 Billion Euro Pandemic Bond-Buying Program<\/h1>\n<\/section>\n<section class=\"news-header\">\n<div class=\"news-rsf-toa\">Thursday, March 19, 2020 01:16 AM<\/div>\n<p class=\"news-byline\">By Jana Randow<\/p>\n<div class=\"news-rsf-abstract\">\n<ul>\n<li>Decision taken in emergency meeting Wednesday evening<\/li>\n<li>Policy makers will consider raising self-imposed QE limits<\/li>\n<\/ul>\n<\/div>\n<p><span class=\"news-dateline\">(Bloomberg) &#8212;<\/span><\/section>\n<section class=\"news-rsf-news-body\">The <a id=\"url-id-0\" class=\"link-disabled\" title=\"European Central Bank\" href=\"bloomberg:\/\/commands\/ECB\">European Central Bank<\/a> launched an extra emergency bond-buying program worth 750 billion euros ($820 billion) to calm a worsening financial crisis and protect the economy through the coronavirus epidemic.<\/p>\n<p>The decision in an unscheduled meeting on Wednesday evening came less than a week after a policy session in which officials agreed to pump more liquidity into the financial system. Despite that step and stronger measures by other central banks, markets are in freefall, prompting a new set of measures.<\/p>\n<ul>\n<li>A temporary asset purchase program to buy public and private-sector securities, worth 750 billion euros and running until at least the end of 2020<\/li>\n<li>Program will cover all assets eligible under current quantitative-easing program, and will be extended to commercial papers of sufficient credit quality<\/li>\n<li>Greek government debt will be included in the program under a waiver from current rules<\/li>\n<li>Collateral standards will be eased by adjusting some risk parameters<\/li>\n<li>Program will continue until ECB judges the crisis phase of the pandemic to be over, but not before the end of this year<\/li>\n<li>The ECB will consider raising its self-imposed limits on QE holdings, and stands ready to increase the size of its asset purchase programs<\/li>\n<\/ul>\n<p>The euro and U.S. equity futures rose after the stimulus measures. S&amp;P 500 futures reversed losses and the single currency edged higher to trade around $1.0950.<\/p>\n<p>Investors are pushing up bond yields as they fret about the cost of the massive fiscal response to the pandemic. Italy, which already has the <span id=\"3c300006-696f-11ea-8754-308d99724420\">euro zone<\/span>\u2019s second-biggest debt burden after Greece and is the worst-affected by the disease, is especially hard hit.<\/p>\n<p>ECB President <a id=\"url-id-1\" class=\"link-enabled\" title=\"Bloomberg Profile\" href=\"bloomberg:\/\/commands\/BBDP%203073805\">Christine Lagarde<\/a> inadvertently worsened the problem last week when she said the central bank\u2019s job is not to close the spreads between safer and riskier government debt yields.<\/p>\n<p>In its statement, the central bank said it \u201cwill not tolerate any risks to the smooth transmission of its monetary policy in all jurisdictions of the euro area.\u201d<\/p>\n<div class=\"news-social-embedded\" data-original-url=\"http:\/\/twitter.com\/Lagarde\/statuses\/1240414918966480896\" data-social-media-type=\"twitter\">\n<div class=\"news-social-agents\">\n<div class=\"news-social-person\"><img decoding=\"async\" class=\"news-social-profile-image\" src=\"https:\/\/pbs.twimg.com\/profile_images\/1190193703006154753\/6UyRHcPE_normal.jpg\" \/><span class=\"news-social-displayname\">Christine Lagarde<\/span><\/p>\n<div class=\"news-social-verified-icon\" title=\"Verified\"><\/div>\n<p><a class=\"news-social-person-url\" href=\"http:\/\/www.twitter.com\/Lagarde\"><span class=\"news-social-handle\">@Lagarde<\/span><\/a><\/div>\n<\/div>\n<div class=\"news-social-icon\" title=\"Tweet\"><\/div>\n<div class=\"news-social-content\">Extraordinary times require extraordinary action. There are no limits to our commitment to the euro. We are determined to use the full potential of our tools, within our mandate.<\/div>\n<blockquote class=\"news-social-embedded-quote\">\n<div class=\"news-social-embedded\" data-original-url=\"http:\/\/twitter.com\/ecb\/statuses\/1240411016078536709\" data-social-media-type=\"twitter\">\n<div class=\"news-social-agents\">\n<div class=\"news-social-person\"><img decoding=\"async\" class=\"news-social-profile-image\" src=\"https:\/\/pbs.twimg.com\/profile_images\/1059460111419301889\/Hfx6vaPS_normal.jpg\" \/><span class=\"news-social-displayname\">European Central Bank<\/span><\/p>\n<div class=\"news-social-verified-icon\" title=\"Verified\"><\/div>\n<p><a class=\"news-social-person-url\" href=\"http:\/\/www.twitter.com\/ecb\"><span class=\"news-social-handle\">@ecb<\/span><\/a><\/div>\n<\/div>\n<div class=\"news-social-content\">Press release: ECB announces \u20ac750 billion Pandemic Emergency Purchase Programme (PEPP) <a href=\"https:\/\/www.ecb.europa.eu\/press\/pr\/date\/2020\/html\/ecb.pr200318_1~3949d6f266.en.html\">ecb.europa.eu\/press\/pr\/date\/\u2026<\/a><\/div>\n<\/div>\n<\/blockquote>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>ECB Announces 750 Billion Euro Pandemic Bond-Buying Program Thursday, March 19, 2020 01:16 AM By Jana Randow Decision taken in emergency meeting Wednesday evening Policy makers will consider raising self-imposed QE limits (Bloomberg) &#8212; The European Central Bank launched an extra emergency bond-buying program worth 750 billion euros ($820 billion) to calm a worsening financial<\/p>\n","protected":false},"author":1,"featured_media":19248,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[2],"tags":[],"class_list":["post-19269","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-2"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/19269","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/comments?post=19269"}],"version-history":[{"count":1,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/19269\/revisions"}],"predecessor-version":[{"id":19270,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/19269\/revisions\/19270"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/media\/19248"}],"wp:attachment":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/media?parent=19269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/categories?post=19269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/tags?post=19269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}