Resource Items: publications

"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."

The UK adopted specific covered bond legislation in March 2008, with the Financial Services Authority (FSA) as regulator.  Among other things, the legislation provided an alternative to structured covered bonds in the form of Regulated Covered Bond (RCB) programs.

The European Central Bank's (ECB's) fifth monthly report on purchases made under its €60 billion (USD $ 87.68 billion) covered bond purchase program shows a total of €4.513 billion (USD $6.595 billion) bought from November 2 to 27, 2009. Of that amount, €1.553 billion (about 34.3%) reflected purchases in the primary market.

This official update, released in early December, is a single page of text with a graph showing spreads since the ECB's purchase program began.  There is also a page of definitions.

The European Central Bank's (ECB's) fourth monthly report on purchases made under its €60 billion (USD $89.192 billion) covered bond purchase program shows a total of €4.18 billion (USD $6.213 billion) bought from October 5 to October 30, 2009.  Of that amount, €1.294 billion reflected purchases in the primary market and €2.886 billion in the secondary market.  Primary market purchases thus comprised a higher percentage of the month's total acquisitions — almost 31% — than was the case in September (21%).