Irish Sovereign Green Bonds Update
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In addition to PSPP, ECB's PEPP with its flexibility (no
limits) & size (€1.85trn) will underpin Irish bond market
€ Billions
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PEPP monthly IGB purchases running
at roughly €1.2bn a month before
ECB decision to speed up purchases
Q1 2015
Q2 2015
Q3 2015
Q4 2015
Q1 2016
Q2 2016
Q3 2016
Q4 2016
Q1 2017
Q2 2017
Q3 2017
Q4 2017
Q1 2018
Q2 2018
Q3 2018
Q4 2018
Q1 2019
Q2 2019
Q3 2019
Q4 2019
Q1 2020
Q2 2020
Q3 2020
PSPP Net IGB purchases (LHS)
Cumulative Net ECB Purchases (RHS)
PEPP/PSPP net purchases (LHS)
Q4 2020
Q1 2021
Q2 2021f
Q3 2021f
Q4 2021f
Gníomhaireacht Bainistíochta an Chisteáin Náisiúnta
National Treasury Management Agency
Source: ECB, NTMA Calculations
Notes:
Forecasts sees Ireland's capital key of 1.69% and assumes 90% of new purchases will be for public sector
assets with 7% of public sectors assets being supranational issuers.
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