The expanded asset purchase programme (APP) includes all purchase programmes under which private and public sector securities are purchased by the Eurosystem to address the risks of a too prolonged period of low inflation.
For further information is available on the ECB website.
Securities Lending arrangement of the Banque centrale du Luxembourg:
Banque centrale du Luxembourg (BCL) makes its bonds purchased through the non-standard monetary policy operations available for lending through ASLplus, the automated securities lending and borrowing programme provided by Clearstream Banking Luxembourg (CBL).
The securities holdings offered for lending are those purchased by the BCL under the Public Sector Purchase Programme (PSPP), the Covered Bond Purchase Programme (CBPP3) and the Pandemic Emergency Purchase Programme (PEPP).
Securities are lent on a cash-neutral basis, i.e. against eligible bond collateral. The maximum loan maturity is 30 calendar days for term loans and 90 calendar days for open loans.
This arrangement allows ASLplus-eligible counterparties to borrow securities at a fee that is equal to the higher of 5 basis points and the prevailing securities lending market fee.
Market participants interested in borrowing securities under this securities lending arrangement, or with specific questions on ASLplus, may contact:
Clearstream Banking
ASLplus Securities Lending Desk London
Phone: +44 207 862 7626
Bloomberg: CLEARSTREAM SECLEND
