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The European Central Bank (ECB) increased by 2.629 billion euros its amount of covered bonds in the week ending November 7, 2014. The ECB held covered bonds in the value of 7.408 billion euros on Monday. The central bank bought 3.075 billion euros in the second week and 1.704 billion euros in the first week as the central bank started its covered bond-buying programme.
The ECB has not yet begun to purchase asset-backed securities (ABS).
The ECB's asset-buying programme is determined to provide more liquidity into the financial system and to expand its balance sheet. The central bank hopes to boost inflation in the Eurozone toward its 2% target.
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