December 15, 2016 / 9:28 AM / 9 months ago

ECB sheds ING and Amundi from ABS buying programme

The European Central Bank (ECB) headquarters is pictured in Frankfurt, Germany, December 8, 2016. REUTERS/Ralph Orlowski

FRANKFURT (Reuters) - The European Central bank has shed ING and Amundi as the two remaining private asset-managers that buy asset-backed securities (ABS) on its behalf, replacing them with national central banks, its said on Thursday.

“The Governing Council of the European Central Bank (ECB) decided yesterday that the Asset-Backed Securities Purchase Programme (ABSPP) should be fully implemented by national central banks rather than relying on the support from external managers,” the ECB said.

“This had been envisaged and announced when the programme was first launched.”

The central banks of Germany, Spain, Italy and the Netherlands will start buying ABS in their stead, joining their peers in Belgium and France.

Reporting By Francesco Canepa; Editing by Balazs Koranyi

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