CBPP3 registered gross purchases of Eu562m last week, slightly more than the previous week, with the programme maintaining a steady pace of secondary market purchases while the primary market remained closed during the summer holiday season.

ECB figures released on Monday show the CBPP3 portfolio grew Eu562m, from Eu225.580bn to Eu226.142 bn, in the week to last Friday. Portfolio redemption figures released yesterday (Tuesday) afternoon show that no CBPP3 holdings matured last week.

The increase is just Eu22m more than gross and net buying of Eu540m in the previous week. The average weekly increase this year is some Eu1.14bn.

As no CBPP3-eligible issuance settled last week, secondary market purchases averaged Eu112m per day, compared with Eu108m the previous week.