The European Central Bank (ECB) used reinvestments from maturing sovereign bonds to support countries under stress in June and July.

Data released on August 2 show that during these months, the central bank rebalanced €26.8 billion ($27.24 billion) of securities bought both through the Asset Purchase Programme (APP), and especially the Pandemic Emergency Purchase Programme (PEPP).

The ECB rebalanced €18.9 billion purchased under the PEPP, €14.3 billion from maturing German bunds, €3.4 billion