The value of Cypriot bonds held by the Eurosystem remained stable at €6.75 billion as the European Central Bank continued its efforts to tame inflation by further unwinding its balance sheet.
Based on available data until the end of November, processed by the Cyprus News Agency, the value of Cypriot bonds in the Eurosystem’s balance sheet through the Public Sector Purchase Programme (PSPP) and the Pandemic Emergency Purchase Programme (PEPP) amounted to €6.75 billion.
The value of Cypriot bonds in the PSPP portfolio stood at €4.29 billion at the end of November, with no Cypriot bonds maturing during this period.
Since August 2023, the ECB has terminated reinvestments from maturing bonds as part of its budgetary contraction, thereby withdrawing liquidity from the market to support broader efforts to control inflation.
As of the end of November, the overall total of the Asset Purchase Program (APP), including PSPP and PEPP, amounted to €3.04 trillion, reflecting a net reduction of €17.95 billion.
Out of this, €2.41 trillion is allocated to the PSPP.
Concurrently, the value of Cypriot bonds in the PEPP portfolio slightly increased to €2.45 billion by the end of November, with purchases amounting to €35 million during the October-November period.
The total PEPP portfolio as of December 1st was €1.66 trillion, with net purchases in November totaling €814 million.