The ECB's Pandemic-related Corporate Bond Purchasing

An InfluenceMap Briefing
April 15th 2020

Amid scant disclosure, the ECB begins pandemic-related corporate bond purchasing

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See media coverage in The Financial Times, ENDS Europe.

  • A new briefing from UK based think tank InfluenceMap shows how the European Central Bank (ECB) has embarked on its Pandemic Emergency Purchase Programme (PEPP) bond buying progamme that has spent 50bn in the last three weeks.

  • While the ECB has not disclosed the € amounts of individual bond purchases, it has revealed the corporate names involved and these include oil majors Shell, ENI and Total with bonds purchased maturing between 2024 and 2034 added to the ECB's balance sheet.

  • There are likely to be concerns around the transparency of PEPP in terms of why certain corporate bonds were bought and in what amounts and also the alignment of the programme with the EU's climate goals.

InfluenceMap will track developments on COVID-19 related government interventions as they happen to inform our stakeholders and partners in the media, investment and NGO communities.

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