The PEPP emergency program granted Greek government securities a derogation from the minimum credit rating requirements of the Public Sector Purchase Program (PSPP), which helped reduce the impact of the pandemic on financial conditions in Greece. During the pandemic, the measures adopted before the outbreak continue to apply.
In particular, the net purchase of securities continues under the regular extended program (Asset Purchase Program – APP), which was adopted in 2015 in response to the then financial crisis. The largest market share consists of government bonds under the PSPP program.