13 Sep 2017 09:45 |Category:  LAT English 1st page news

Bank of Latvia buys EUR 6.019 billion worth of securities under ECB program

RIGA, Sep 13, BNS - The Bank of Latvia so far has purchased EUR 6.019 billion worth of Latvian and supranational securities under the European Central Bank's (ECB) Public Sector Purchase Program (PSPP), according to the information published by the bank.

In August 2017, the bank purchased EUR 157.875 million worth of these securities.

The Latvian central bank also bought up EUR 194.789 million worth of securities in July, EUR 200.659 million worth of securities in June, EUR 189.577 million worth of securities in May, EUR 200.426 million worth of securities in April, EUR 251.488 million worth of securities in March, EUR 237.132 million worth of securities in February and EUR 229.323 million worth of securities in January.

In 2015, the Bank of Latvia purchased PSPP securities for EUR 1.808 billion and in 2016 for EUR 2.549 billion.

The securities purchase program was launched in March 2015 pursuing the Eurosystem's (comprising the ECB and national central banks of the euro area) objective of keeping medium-term inflation rates below, but close to, 2 percent. The expanded assets purchase program encompasses three programs: the PSPP, CBPP3 (the covered bond purchase program) and ABSPP (the asset-backed securities purchase program).

Under the ECB program, the Bank of Latvia, just like the central banks of all other eurozone countries, is expected to buy up local government bonds and supranational securities.

BNS, +371 67088611, zinas@bns.lv

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