Notes: The estimated impact via a suite of models refers to the average across a set of models used by the Eurosystem for policy simulations, a BVAR model (Rostagno, M., Altavilla, C., Carboni, G., Lemke, W., Motto, R., Saint Guilhem, A. and Yiangou, J.
To provide support to mortgage lending and housing markets and to improve overall conditions in private credit markets, the Federal Reserve is in the process of purchasing $ trillion of agency mortgage-backed securities and about $ billion of agency debt.