Translation of "Ankaufprogramm" in English

To be sure, the ECB could expand its purchases of long-term bonds.

Panoramic Which bonds have benefitted most from the ECB’s corporate bond buying programme?

Currently, the third purchasing programme for US government bonds (and mortgages) is in its final stage.

When the next recession comes, the ECB will be forced to resume its buying program.

After Abe appointed Haruhiko Kuroda as the new head of the Bank of Japan (BOJ) and charged him with getting the inflation rate to 2%, Kuroda loosened monetary policy immediately and dramatically, by slashing interest rates and launching large-scale purchases of long-term government bonds.

Alongside the third covered bond purchase programme (hereinafter the ‘CBPP3’) and the asset-backed securities purchase programme (hereinafter the ‘ABSPP’), the PSPP is part of the expanded asset purchase programme (hereinafter the ‘APP’).

Alongside the third covered bond purchase programme, the asset-backed securities purchase programme and the forthcoming corporate sector purchase programme, the PSPP is part of the expanded asset purchase programme (APP).

In addition, these included guidance on the future stance of monetary policy – known in technical jargon as “forward guidance” –, targeted longer-term refinancing operations that offer banks highly attractive conditions provided they extend credit to firms, and an extensive purchase programme for bonds issued by public and private issuers.

The program to purchase certain bonds announced by the European Central Bank in the spring stimulated optimism and increasing share prices.

The yields on 10-year US Treasuries have risen by 90 basis points since Fed chairman Ben Bernanke's statement during testimony on May 22 that the Fed might scale back its USD 85 bn per month programme of MBS and Treasuries purchases even before the end of this year, although Bernanke also emphasised that monetary policy nevertheless remained accommodative and that consideration would only be given to raising the Fed Funds rate once the unemployment rate has fallen below 6 ½%.

Notwithstanding this recent relative shift, the PSPP for government bond purchases is still by far the largest purchase programme under the APP .

Whilst these broad asset purchases or QE are unlikely to be unveiled today, they are the only likely means in the near term, of ensuring that the banking system in Europe is able to extend significantly more credit to the real economy.

The ECB sends a compelling message to its German critics by stressing the Bundesbank agreement to that the new programme is a monetary policy instrument, which does not constitute monetary financing. bonds bundesbank ecb

On that note, it is good that we have cut back risk sharing to only a small degree in the latest purchase programme.

The European Central Bank (ECB) will soon have to decide how to proceed with its bumper asset-purchasing program.

The still-operational and widely debated asset purchase programme, or APP, is one of the main pillars supporting the highly accommodative monetary policy.

After the European Central Bank (ECB) had decided a new programme to buy bonds of states hit by the crisis and subject to a programme of austerity, the stock markets burst into euphoric fireworks.

The Bank of Japan extended its existing bond buying programme back in October and the ECB launched an extended programme in March.

Nevertheless, the German banks taking part in the survey also reported on a broad front that the purchase programme was exerting pressure on their net interest margins and therefore placing a strain on their profitability.

A new analysis investigates the impact of the Eurosystem's monetary policy asset purchase programme on the repo market, and shows that central bank securities lending can help to counteract scarcity.