ECB’s Pandemic Emergency Purchase Programme: amending Decision published
Last week, on 10 February, the European Central Bank (ECB) adopted Decision 2021/174 amending Decision 2020/440 of the ECB on a temporary Pandemic Emergency Purchase Programme (PEPP). The text of the amending Decision has been officially published today and will enter into force on Friday 19 February.
Decision 2021/174 revises certain of the PEPP’s design features in line with the agreement reached by the ECB’s Governing Council on 10 December 2020. Specifically, the Governing Council decided to increase the overall separate envelope for the PEPP by 500 billion euros to a total of 1,850 billion euros, and to extend the horizon of net purchases under the PEPP until at least the end of March 2022. In any case, the Governing Council