CBPP3 outstandings fell Eu28m in the week to last Friday, with the decline the result of a maturing bond, according to a spokesperson for the ECB, which released its latest figure for settled purchases yesterday (Monday) afternoon after the end of a two week pause in buying.

Outstandings for the European Central Bank’s third covered bond purchase programme stood at Eu29.632bn, according to yesterday’s figure, down from Eu29.660bn a week earlier. A spokesperson for the ECB told The CBR that the decline was the result of a maturing bond.

Market participants had not expected any change in the total because the ECB suspended CBPP3 from 22 December to 2 January “in anticipation of lower market liquidity during this period and in order to reduce possible market distortions”.