The European Central Bank (ECB) could be ready to announce a quantitative easing (QE) program based on the contributions made from national central banks, a source close to the central bank has told CNBC.
The source said that the central bank is planning to design a sovereign debt purchase program based on the paid-in capital contributions made by euro zone central banks.
Every national central bank pays a certain amount of capital into the ECB. For example Germany pays in 17.9 percent of the total contributions, while France contributes 14.2 percent. Cyrpus, meanwhile, pays the least with 0.15 percent of the total.
The level of this paid-in capital contribution would determine how much of that country’s sovereign debt the central bank would purchase, according to the source. However, the ECB’s plans for extraordinary measures have yet to be finalized.
via CNBC
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