Risk Europe : ECB board member warns central banks against over-reaching on risk
As the European Central Bank announced a new programme to purchase up to €60 billion of euro-denominated covered bonds, ECB board member Jose Gonzalez-Paramo said central banks should not be taking on credit risk, in a keynote address at the Risk Europe conference in Frankfurt yesterday.
ECB president Jean-Claude Trichet announced the central bank would be buying euro-denominated covered bonds in the primary and secondary markets
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