Key points for this month:
· Net APP purchases in August slowed down to €24.8bn compared with €29.8bn in July.
- Monthly purchases: €22.6bn (€25.02bn in July)
- PSPP monthly share of QE increase to 91% vs. 83% in July.
- As of 31 August 2018, the Eurosystem had bought €2,059bn of bonds under the PSPP.
- Monthly purchase: €1.5bn (€3bn in July)
- CSPP monthly share of QE slowed down at 6% in August. The share of CSPP has increased in 2018.
- As of 31 August 2018, the Eurosystem had bought €166bn of Corporate bonds under the CSPP.
· Capital key deviation :
- Limited deviation from the capital Key for all countries of Eurozone
- The ECB is considering buying more longer-dated bonds. Nevertheless in August 2018 as in December 2017, the redemptions realized were less than €1bn.
- PSPP Redemption in August €0.85bn (after €16.1bn in July).
- €150bn of PSPP redemptions until August 2019 (€12.5bn per month).
- Limited reinvestment on the CSPP: €5.2bn of CSPP redemptions until August 2019 (€0.4bn per month).
September 04, 2018