Unsellable bonds structured to abuse ECB scheme
Rachel Evans |
NEWS ANALYSIS - September 04, 2008
The integrity of the European Central Bank's liquidity scheme is in doubt, with reports that commercially unviable bonds are being created to offload illiquid assets.
The ECB has injected liquidity into the market with financing in exchange for collateral. Doubts about the quality of this collateral have been growing for months, but the extent of the...
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