European Central Bank sets out APP and PEPP purchase data disclosures including an updated PEPP reporting approach for the run-down phase

The European Central Bank (ECB) published a letter from President Christine Lagarde to Members of the European Parliament explaining what information the ECB publishes on its asset purchase programme (APP) and pandemic emergency purchase programme (PEPP), and how disclosure has been adjusted as PEPP portfolios run down. The ECB pointed to dedicated APP and PEPP web pages that consolidate decisions, historical implementation data and programme FAQs, noting that its approach to publishing PEPP data was updated in December 2024 to keep transparency “appropriate” through the full run-down phase. For public sector securities, the ECB publishes a country-by-country breakdown of monthly net purchases under both APP and PEPP, with historical time series starting in 2015 for the public sector purchase programme (PSPP) and 2020 for PEPP. For private sector purchases, the ECB provides monthly net purchase data by APP sub-programme and by PEPP asset class, but not by country; it also publishes country-of-risk breakdowns of holdings for the corporate sector purchase programme (CSPP), covered bond purchase programme (CBPP3) and asset-backed securities purchase programme (ABSPP) semi-annually during net purchase and reinvestment phases and annually during the run-down phase, while stating that no country-of-risk breakdown is available for the private sector part of PEPP.