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Eurosystem’s Corporate Sector Purchase Programme (CSPP) enters the next stage

03 August 2016

Start of securities lending activity and weekly disclosure of holdings

​The Eurosystem’s CSPP began its operation and started purchasing ‘CSPP Eligible Bonds’ on 8 June 2016. The CSPP entered its next phase on 18 July 2016 by publishing weekly disclosures of purchased holdings and making these holdings available for securities lending transactions.

For market participants and stakeholders, this next phase, coupled with monetary policy announcements of the European Central Bank (ECB), provides insight into:

  • what sectors and specific CSPP Eligible Bonds the Eurosystem has purchased;
  • what types of issuers and transaction structures are considered to be ‘CSPP Eligible Issuers’;
  • which CSPP Eligible Bonds are available for Eurosystem driven securities lending back into the market; and
  • some direction on possible avenues of how the Eurosystem and ECB might act going forward.

To read the full client briefing click here >>>