Sovereign bond purchases and risk sharing arrangements : implications for euro-area monetary policy : monetary dialogue 15 June 2015 : compilation of notes

The notes in this compilation review the main features (size, structure, etc.) of sovereign bond markets in euro area Member States and discuss, in the relation to expanded asset purchase programme (EAPP) of the ECB, the financial risks the Eurosystem is potentially taking on its balance sheet in view of currently very low (negative) yields and possible shortage of government bonds. The notes have been requested by the Committee on Economic and Monetary Affairs (ECON) of the European Parliament as an input for the June 2015 session of the Monetary Dialogue between the Members of ECON and the President of the ECB.