The Third Covered Bond Purchase Programme (CBPP3)
As stated in “Decision ECB/2014/40, 15 October 2014” the CBPP3 will:
- Further enhance the transmission of monetary policy
- Facilitate credit provision to the euro area economy
- Generate positive spill-overs to other markets
- Ease the ECB's monetary policy stance and contribute to a return of inflation rates to levels closer to 2%
The Eurosystem began purchases under CBPP3 on 20 October 2014.
All purchases under CBPP3 are held on a full income and loss sharing regime, as is the case with most decentralised monetary operations.
FAQs related to the CBPP3 can be found on the ECB’s website.