BlackRock to consult ECB ABS programme

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The European Central Bank (ECB) confirmed that BlackRock has been hired as an advisor to develop a programme in order to purchase asset backed securities (ABS).

Mario Draghi highlighted in June that he ECB will intensify preparatory work for purchases of European non-financial ABS  in the European non financial sector, in a bid to revive the Eurozone economy.

BlackRock will provide advice on the design of and realisation of ABS purchases, while the ECB governing council will be in charge of execution, Bloomberg revealed.

With a combined AUM of $4trn (€3.47trn), BlackRock is a significant investor in European ABS. The ECB highlighted that the contract with BlackRock foresees a separation of projects for the ECB and other ABS purchases.

Mona Dohle
Mona Dohle speaks German and Dutch, she is DACH & Benelux Correspondent for InvestmentEurope. Prior to that, she worked as a journalist in Egypt and Palestine. She started her career as a journalist working for a local German newspaper. Mona graduated with an MSc in Development Studies from SOAS and has completed the CISI Certificate in International Wealth and Investment Management.

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