Announcement on ECB website
Lending of holdings purchased under the public sector purchase programme (PSPP)
As of 2 April 2015, the securities purchased under the public sector purchase programme (PSPP) are made available for securities lending in a decentralised manner by a number of Eurosystem central banks. Further national central banks will follow soon. The aim of securities lending is to support bond and repo market liquidity without unduly curtailing normal repo market activity. The Eurosystem is primarily targeting market participants with market making obligations.
The Eurosystem central banks will use various channels taking into account not only the diversity of the existing securities lending arrangements and market characteristics across jurisdictions, but also the goal of starting securities lending without undue delay. The Eurosystem will endeavour to attain a further convergence of lending arrangements over time. Each Eurosystem central bank provides more detailed information on its own securities lending arrangements.
More at the website here
