BN 11/03 18:18 *DRAGHI SAYS FISCAL POLICIES CAN PROVIDE FURTHER GROWTH SUPPORT
BFW 11/03 18:18 *DRAGHI: FISCAL POLICY SHOULD RESPECT STABILITY AND GROWTH PACT
BN 11/03 18:17 *DRAGHI: FISCAL POLICY SHOULD RESPECT STABILITY AND GROWTH PACT
BFW 11/03 18:12 *DRAGHI SAYS SCOPE FOR ECB ABS PURCHASES IS ’RATHER LARGE’
BN 11/03 18:11 *DRAGHI SAYS SCOPE FOR ECB ABS PURCHASES IS 'RATHER LARGE'
BFW 11/03 18:08 *DRAGHI: ECB MEASURES WILL HAVE SIZABLE IMPACT ON BALANCE SHEET
BN 11/03 18:07 *DRAGHI COMMENTS IN LETTER TO EUROPEAN PARLIAMENT
BFW 11/03 18:06 *DRAGHI: ECB CONSIDERS INTEREST RATES AT EFFECTIVE LOWER BOUND
BFW 11/03 18:18 *DRAGHI: FISCAL POLICY SHOULD RESPECT STABILITY AND GROWTH PACT
BN 11/03 18:17 *DRAGHI: FISCAL POLICY SHOULD RESPECT STABILITY AND GROWTH PACT
BFW 11/03 18:12 *DRAGHI SAYS SCOPE FOR ECB ABS PURCHASES IS ’RATHER LARGE’
BN 11/03 18:11 *DRAGHI SAYS SCOPE FOR ECB ABS PURCHASES IS 'RATHER LARGE'
BFW 11/03 18:08 *DRAGHI: ECB MEASURES WILL HAVE SIZABLE IMPACT ON BALANCE SHEET
BN 11/03 18:07 *DRAGHI COMMENTS IN LETTER TO EUROPEAN PARLIAMENT
BFW 11/03 18:06 *DRAGHI: ECB CONSIDERS INTEREST RATES AT EFFECTIVE LOWER BOUND
Draghi Says Scope for ECB Purchases of ABS Is ’Rather Large’
2014-11-03 18:31:07.194 GMT
By Stefan Riecher
Nov. 3 (Bloomberg) -- The scope of eligible asset-backed
securities “is rather large and purchases of senior tranches
alone should make it possible to generate significant volumes,”
ECB President Mario Draghi says.
* Draghi comments in letters to European lawmakers
* Says the ECB expects a “dynamic response of ABS issuance to
the purchase program”
* Says while the ECB doesn’t have “precise targets” for its
asset-purchase plans and its long-term bank loans, the
programs “will have a sizeable effect on our balance
sheet”
* “Fiscal policy should fully respect the rules and
recommendations issued under the Stability and Growth Pact”
* “Fiscal policies can provide further support to growth:
cutting non-productive expenditure can create space for
reducing taxes and increasing public investment”
* NOTE: The ECB’s Governing Council gathers in Frankfurt this
week and announces its monetary-policy decision on Nov. 6
Link to Company News:{2539Z GR <Equity> CN <GO>}
For Related News and Information:
First Word scrolling panel: {FIRST<GO>}
First Word newswire: {NH BFW<GO>}
To contact the reporter on this story:
Stefan Riecher in Frankfurt at +49-69-92041-341 or
sriecher@bloomberg.net
To contact the editor responsible for this story:
Jana Randow at +49-69-92041-206 or
jrandow@bloomberg.net
2014-11-03 18:31:07.194 GMT
By Stefan Riecher
Nov. 3 (Bloomberg) -- The scope of eligible asset-backed
securities “is rather large and purchases of senior tranches
alone should make it possible to generate significant volumes,”
ECB President Mario Draghi says.
* Draghi comments in letters to European lawmakers
* Says the ECB expects a “dynamic response of ABS issuance to
the purchase program”
* Says while the ECB doesn’t have “precise targets” for its
asset-purchase plans and its long-term bank loans, the
programs “will have a sizeable effect on our balance
sheet”
* “Fiscal policy should fully respect the rules and
recommendations issued under the Stability and Growth Pact”
* “Fiscal policies can provide further support to growth:
cutting non-productive expenditure can create space for
reducing taxes and increasing public investment”
* NOTE: The ECB’s Governing Council gathers in Frankfurt this
week and announces its monetary-policy decision on Nov. 6
Link to Company News:{2539Z GR <Equity> CN <GO>}
For Related News and Information:
First Word scrolling panel: {FIRST<GO>}
First Word newswire: {NH BFW<GO>}
To contact the reporter on this story:
Stefan Riecher in Frankfurt at +49-69-92041-341 or
sriecher@bloomberg.net
To contact the editor responsible for this story:
Jana Randow at +49-69-92041-206 or
jrandow@bloomberg.net