ECB Report on Covered Bond Purchases - January 2010

"From 1 January to 29 January 2010, the Eurosystem purchased eligible covered bonds with a total nominal value of €5,559 million under its covered bond purchase programme (CBPP).  Of this total, €2,187 million was accounted for by purchases in the primary market and the remaining €3,372 million by purchases in the secondary market.  The total nominal value of all covered bonds purchased by the Eurosystem since the programme was fi rst started stood at €33,823 million on 29 January 2010."

That is the first paragraph of the European Central Bank's (ECB's) monthly report for January 2010 on the progress of its €60 billion covered bond purchase program (released Feb. 4).  The report also notes:  "Overall, activity in the covered bond market picked up significantly again in January, following a seasonal slowdown in December, which had been widely anticipated."

To download a PDF of the ECB's complete January report (one page, plus a page of definitions), click on "Jan 2010 ECB Rpt" under "Attachment," below.