(ANSA) - Rome, October 21 - On the second day of a major
purchase of covered bonds through a program aimed at boosting
the economy, the European Central Bank turned to Italian paper,
according to published reports on Tuesday.
The ECB purchase of Italian bonds included debt issued by
leading bank Intesa Sanpaolo SpA, according to a report by
Bloomberg, citing two sources familiar with the matter.
The bond purchase plan began Monday when the ECB bought up
covered bonds from France and Spain as part of its program of
unconventional measures designed to stimulate growth in the
lacklustre European economy.
The central bank has said it hopes that by purchasing
covered bonds along with its targeted lending program, it can
encourage retail banks to increase their lending to the consumer
and business sector.
ECB buying targeted bonds from Italian bank, say reports
Purchases part of unconventional measures by central bank