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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Eni Spa | BIT:ENI | Italy | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.304 | -2.01% | 14.808 | 14.808 | 14.81 | 14.84 | 14.60 | 14.66 | 23,582,665 | 16:03:53 |
By Todd Buell
FRANKFURT--The European Central Bank said Thursday that it has appointed four asset managers to conduct its purchase program of asset backed securities, adding that the purchases under the program should begin in November.
The ECB hopes that purchases of ABS and covered bonds, along with targeted bank loans and rate cuts, can help lift inflation in the currency bloc and boost economic growth.
It said the appointed companies are Amundi and Amundi Intermédiation, Deutsche Asset & Wealth Management International, ING Investment Management and State Street Global Advisors.
"The executing asset managers' role will be to conduct the eligible ABS purchase transactions on explicit instructions from, and on behalf of, the Eurosystem, which will undertake price checks and due diligence prior to approving the transactions," the ECB said in a press release. The Eurosystem refers to the ECB and the central banks of the countries that use the euro.
"The contracts with the executing asset managers contain a number of provisions to mitigate conflicts of interest, such as the separation of teams working for the ECB and those engaged in any other activities," the press release said.
Write to Todd Buell at todd.buell@wsj.com
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