Menu
Economy

Cypriot bonds purchased by ECB through APP redemptions amount to rise to €1.8 billion

July 12, 2019 at 4:06pm

Cypriot bonds purchased by the European Central Bank (ECB) through redemptions of maturing bonds purchased during the Asset Purchase Programme (APP) amounted to €1.8 billion.

The ECB in June purchased Cypriot bonds amounting to €96 million with the total stock of Cypriot bonds held by the ECB in end-June amounting to €1,178 million.

The bonds’s remaining weighted average rose to 6.96 years in June from 6.3 years in end-April.

By the end of 2018 when the ECB terminated new bond purchases as part of the APP, the stock of Cypriot bonds acquired by the ECB amounted to €678 million that correspond to approximately 0,03% of total purchases.

A spokesman of the Central Bank of Cyprus told CNA that following Cyprus’ return to investment-status, that rendered the island’s bonds eligible for purchases, the ECB will increase the purchase of Cypriot bonds to Cyprus’ capital key of 0.2%.

(Cyprus News Agency)