Who holds and sells the assets purchased by the Eurosystem? And how do these counterparties rebalance their portfolio? This Rue de la Banque shows that the major end-counterparty of the Eurosystem’s purchases is the non-resident sector, followed by banks and mutual funds from euro area countries as a whole. Purchases by the Eurosystem have enabled the majority of investors to reduce their exposure to duration risk and sovereign risk.
By Ralph S.J. KOIJEN, François KOULISCHER, Benoît NGUYEN et Motohiro YOGO
Updated on: 04/17/2018 15:06