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ECB Boosts Emergency Bond-Buying Program by 37% to €1.85T Amid Pandemic Resurgence
The ECB says the additional monetary policy actions were needed because of a resurgence in coronavirus cases.
Updated Sep 14, 2021, 10:41 a.m. Published Dec 10, 2020, 1:07 p.m.
The European Central Bank Thursday said it would boost the size of an emergency asset purchasing program and extend a bank loan program by a year as a resurgence in coronavirus cases takes a toll on the region's economy.
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- The pandemic emergency purchase program (PEPP) will increase by €500 billion to €1.85 trillion (US$2.2 trillion), and the horizon for net purchases was extended to March 2022.
- "In any case, the governing council will conduct net purchases until it judges that the coronavirus crisis phase is over," according to a statement.
- The monetary policymakers, led by ECB President Christine Lagarde, also pledged to extend the period of favorable terms on targeted longer-term refinancing operations (TLTRO III) by a year to June 2022.
Read More: Stablecoins 'Pose Serious Risks' to Financial Security, ECB's Lagarde Says
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Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
What to know:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
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