STRIPS are accounted for at the end of each month (see Question 2.4 in the Q&A). The amortisation emerges from an accounting principle that implies that securities purchased at prices below face value have to be revalued upwards over time towards maturity, and revalued downwards over time, if purchased at prices above face value.
No net purchases, only reinvestments of redemptions, as of July 2022Īmortisation adjustment are made at the end of each quarter.€20 billion of net purchases in June 2022.€30 billion of net purchases in May 2022.€40 billion of net purchases in April 2022.€20 billion of net purchases from November 2019 to March 2022 (a temporary €120 billion envelope of net asset purchases was added from March to December 2020).No net purchases, only reinvestments of redemptions, from January to October 2019, as the Governing Council sought to maintain the size of its cumulative net purchases.€15 billion of net purchases from October to December 2018.€30 billion of net purchases from January to September 2018.
€60 billion of net purchases from April to December 2017.€80 billion of net purchases from April 2016 to March 2017.€60 billion of net purchases from March 2015 to March 2016.The Governing Council recalibrated the overall net purchases under these programmes from time to time as follows: The Eurosystem started to purchase securities under the asset purchase programmes of its APP in October 2014. third covered bond purchase programme (CBPP3).asset-backed securities purchase programme (ABSPP).
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