The German Empire Strikes Back: ECB doesn’t have sufficient experience for ABS purchases – Die Welt

Germany’s Die Welt reports the ECB may use an external company for some ABS purchases. That’s not really news as the ECB has already hired Blackrock.

• ECB lacks capacity to conduct ABS purchases
• ECB may conduct covered-bond purchases itself

I’d really like to know what everyone at the ECB does. There are 1,600 staff in Frankfurt and thousands more at all the national central banks. Sure they might not have the expertise but who does? Passing the responsibility to Blackrock looks fishy and it probably is.