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ECB selects Blackrock to help develop ABS plan

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The European Central Bank has selected Blackrock Solutions to provide it with consultancy services in its preparations for a program to buy asset-backed securities (ABS), an ECB spokesman said on Wednesday.

Blackrock will provide advice on the design and implementation of a potential ABS purchase programme, but all final decisions will be taken by the ECB itself, the spokesman said.

ECB President Mario Draghi said on Friday the central bank's preparations for outright purchases of ABS were "fast moving forward and we expect that it should contribute to further credit easing."

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