ECB buys back $ 750 billion worth of securities to support financial stability

US, WASHINGTON (ORDO NEWS) — The Governing Council of the European Central Bank (ECB) decided to launch a € 750 billion redemption program to support financial stability in the context of the spread of a new type of coronavirus.

This is stated in a statement published on Wednesday evening on the ECB official website.

“The Governing Council [ECB] has decided to launch a new temporary program for the purchase of private and government securities to counter the serious risks to monetary policy mechanisms and prospects in the euro area caused by the outbreak and rapid spread of coronavirus [causing the disease] COVID-19.” the text says.

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