ECB says has started buying covered bonds

The European Central Bank has started buying covered bonds, an ECB spokesman said on Monday, beginning purchases that form a key part of a new stimulus package with which it hopes to revive the euro zone economy.

The ECB has already given banks the opportunity to borrow four-year loans and will also start buying bundled loans or asset-backed securities (ABS) later this year.

Euro logo sign European Central Bank ECB Frankfurt Gerrmany
Ralph Orlowski | Reuters

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