Details of the Corp sector purchase program, or COP bonds as they're calling it.
- COP bonds have to be eligible as collateral
- Will be purchased on primary and secondary markets
- Will be carried out by 6 national central banks
- ECB won't buy bonds of asset management vehicles
- No primary purchases will involve debt instruments issued by entities that qualify as public undertakings
- Will apply share issue limit of 70% for international securities
- Will report purchase breakdown monthly
We'll have to see what levels these purchases reach to fathom the possible overall effect on markets. The news on asset management might see a few front runners in that area bailing out of trades.
