FRANKFURT/PARIS (Reuters) - The European Central Bank's unprecedented decision to use outside help for new asset purchases is stirring conflict among policymakers, highlighting the difficulty for the ECB of considering even more extreme policy action. ECB President Mario Draghi outlined last week new programs under which the euro zone's central bank will buy asset-backed securities, which repackage bank loans, and covered bonds, secured on solid assets such as property, starting within weeks. Concerned that individual central banks lack the required expertise, the ECB plans to employ an external bank or professional asset manager to buy the securities on its behalf, at least initially.
via Business News http://ift.tt/1EkqEYF
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