Trichet Statement and Q&A Transcript on Covered Bond Buy

There was widespread interest in the U.S. and around the globe when European Central Bank President Jean-Claude Trichet announced that the ECB had decided in principle to buy €60 billion (USD $80.5 billion) in covered bonds to benefit the economy.  Here is a complete transcript of Trichet's May 7 remarks—both his introductory statement and the Q&A—courtesy of the ECB's Directorate of Communications.

To download a PDF, click on "20090507 Trichet on Covered Bonds" under "Attachment" below.

[Ed. note: For a transcript of the ECB's June press conference, click here.]