Central Bank Corporate Debt Purchasing

The COVID-19 crisis has caused a worldwide shortfall in liquidity. In response, the world’s major central banks have begun purchasing corporate debt in the form of direct purchases of corporate bonds or commercial paper and through secondary market instruments.

The buying of corporate debt by central banks remains a highly opaque process with minimal disclosure.  The value of these debt assets on central bank balance sheets is increasing rapidly and will have significant impacts on economy activity, including efforts to mitigate climate change and to push towards a green recovery.   RecoveryMap aggregates these limited disclosures with financial databases to provide a searchable tracking of bond buying from the European Central Bank's Pandemic Emergency Purchase Programme (PEPP), the Bank of England's COVID Corporate Financing Facility (CCFF) and the US Federal Reserve's Secondary Market Corporate Credit Facility (SMCCF) to enable key stakeholders to engage more effectively with these processes.

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Last updated 12/11/2020