Banks, EU – Baltic States, Financial Services, Latvia
International Internet Magazine. Baltic States news & analytics
Friday, 29.03.2024, 01:08
Bank of Latvia has bought EUR 7.146 bln worth of securities under ECB program
In June 2018, the Bank of Latvia purchased securities for
EUR 94.784 mln.
In January, the Latvian central bank bought securities for
EUR 80.475 mln, in February for EUR 82.456 mln, and in March for EUR 6.45 mln.
Some of the Latvian securities that had been bought up under the PSPP matured
in March. In April, the Bank of Latvia purchased EUR 77.432 mln worth of
securities and EUR 84.792 mln worth of securities were bought in May.
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 %. The expanded assets purchase program now comprises four programs: the
PSPP, the CBPP3 (the covered bond purchase program), the ABSPP (the asset-backed
securities purchase program) and the latest addition - the CSPP (the corporate
sector 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.
The European Central Bank is planning to cut its asset
purchase program starting from the current EUR 30 bln a month to EUR 15 bln a
month from September to December 2018. After that the quantitative easing
program will be discontinued.