• €750 billion pandemic emergency purchase programme (PEPP)
• a new temporary asset purchase programme of private and public sector securities to counter the serious risks to the monetary policy transmission mechanism
• purchases will be conducted until the end of 2020 and will include all the asset categories eligible under the existing asset purchase programme
• says for the purchases of public sector securities, the benchmark allocation across jurisdictions will continue to be the capital key of the national central banks.
• says to the extent that some self-imposed limits might hamper action that the ECB is required to take in order to fulfil its mandate, the governing council will consider revising them to the extent necessary
• says at the same time, purchases under the new PEPPwill be conducted in a flexible manner. this allows for fluctuations in the distribution of purchase flows over time, across asset classes and among jurisdictions.
• says a waiver of the eligibility requirements for securities issued by the Greek government will be granted for purchases under PEPP.
• says the governing council is fully prepared to increase the size of its asset purchase programmes and adjust their composition, by as much as necessary and for as longas needed
• the governing council will terminate net asset purchases under PEPP once it judges that the coronavirus covid-19 crisis phase is over, but in any case not before the end of the year
• says to expand the range of eligible assets under the corporate sector purchase programme (CSPP) to non-financial commercial paper, making all commercial papers of sufficient credit quality eligible for purchase under CSPP
• says the governing council of the ECB is committed to playing its role in supporting all citizens of the euro area through this extremely challenging time

Summary Headlines via Reuters