February 19, 2015 / 11:02 AM / 5 years ago

TABLE-ECB held 18.1 bln euros in Greek bonds at end-2014

FRANKFURT, Feb 19 (Reuters) - The European Central Bank and
the 18 national central banks then forming the euro zone
currency bloc held 18.1 billion euros ($20.67 billion) of Greek
bonds at the end of last year, the ECB said on Thursday.
    The ECB bought the bonds at the height of the European debt
crisis under its Securities Markets Programme (SMP), along with
debt from Ireland, Spain, Italy and Portugal. The bonds will
stay on its balance sheet for another 3.7 years on average.
    The ECB published the latest detail of the now-terminated
programme in its annual accounts. It holds the bonds to
maturity.
    The ECB said it earned net interest income of 728 million
euros in 2014 from securities purchased under the SMP, down from
962 million in 2013. 
    The total earned in 2014 included net interest income of 298
million euros from its holdings of Greek government bonds. That
marked a decrease from 437 million in 2013.
    The ECB ended the SMP on Sept. 6, 2012, and replaced it with
a new programme, called Outright Monetary Transactions (OMT),
which is based on strict conditionality and has yet to be used.
    The following table shows the breakdown of the Eurosystem's
SMP holdings at Dec. 31, 2014. (Amounts are in billions of
euros).
    
    
 Issuer country       Nominal     Book value (1)  Average
                      amount                      remaining
                                                  maturity
                                                  (years)
 Ireland              9.7         9.3             4.3
 Greece               19.8        18.1            3.5
 Spain                28.9        28.6            3.8
 Italy                76.2        73.9            3.8
 Portugal             14.9        14.3            3.3
 Total (2)            149.4       144.3           3.7
                                                  
    (1) SMP holdings are valued at amortised cost.
    (2) Totals may not add up due to rounding.
($1 = 0.8755 euros)

 (Writing by Paul Carrel; editing by John O'Donnell)
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