View more on these topics

ECB hints at Italian and Spanish bond purchases

The European Central Bank says it will “actively implement” its bond-buying programme to tackle the eurozone debt crisis, heightening expectations it could begin purchasing Italian and Spanish government debt.

A statement issued by the central bank last night welcomes the fiscal and structural reforms recently announced by Italy and Spain, saying the “decisive and swift” implementation of these measures will help to reduce public deficits.

In addition, the ECB applauds the pledges made by France and Germany over the weekend that the European Financial Stability Facility (EFSF) will assume responsibility for bond buying once it becomes active later in the year.

The bank also says it considers it “fundamental” that eurozone governments are ready to launch the EFSF if its analysis determines there are “exceptional financial market circumstances and risks to financial stability”.

“It is on the basis of the above assessments that the ECB will actively implement its Securities Markets Programme,” the ECB’s statement says.

“This programme has been designed to help restoring a better transmission of our monetary policy decisions – taking account of dysfunctional market segments – and therefore to ensure price stability in the euro area.”

Although the bank did not specific which countries’ bonds will start purchasing, a number of analysts have said it is highly likely Italian and Spanish government debt will be targeted.



Industry figures in talks to set up trade body rival

Industry figures have held talks this morning to discuss the possibility of establishing a new adviser trade body to rival Aifa, Money Marketing understands. Bluecoat Software head of proposition and former Professional Partnerships principal Gill Cardy and former IFA association director general Garry Heath are thought to be involved in the talks. IFA Life founder […]


Forcing people to retire later poses psychological concerns

You do not need to be a professor of psychology to know that being forced to work later in life than you want to is depressing. But the current debate on pension reform in the UK has so far only skimmed the surface of the emotional effects of individuals affected by it. For some women […]


FSA charges investment banker with insider dealing

The FSA has charged an investment banker and two associates with insider dealing. Thomas Ammann, an investment banker, has been charged with three counts of insider dealing contrary to section 52 of the Criminal Justice Act 1993, and two counts of enouraging insider dealing. Christina Weckwerth, who lives in Germany, has been also been charged […]

Examples show ways of meeting definition

The FSA has set out examples of where advisers would and would not meet the definition of independence when using platforms. It says it can be harder to meet independence rules when using platforms as the product range of investment bonds, personal pensions and Sipps can be more limited. The regulator says a firm that […]

Martin Foden discusses how convenience is affecting the construction of fixed income portfolios

In this short video, Martin Foden, head of credit research at Royal London Asset Management, discusses how convenience is affecting the construction of fixed income portfolios. Watch the video in full The value of investments and the income from them is not guaranteed and may go down as well as up and investors may not […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm