In terms of overall breakdown, we intend to allocate 88% of the total purchases conducted under the PSPP to government bonds and recognised agencies, and 12% to securities issued by international organisations and multilateral development banks. An initial list of the international organisations and multilateral development banks whose securities are eligible for the PSPP has been published on the ECB’s website 6.
How is the Eurosystem buying? Purchases are to be split across eligible euro area jurisdictions according to the ECB’s capital key, and within each jurisdiction we will purchase securities roughly according to the nominal amount outstanding. To preserve normal secondary market functioning, our purchases will be subject to a security-specific limit of 25% and an issuer-specific limit of 33% in terms of nominal value.