Draghi: ECB purchases will include ABS backed by real estate and “loans to the real economy”

So it’s the TLTRO, covered bond purchases and ABS outright purchases that include real estate and other loans. Thing is, the ABS market in Europe is relatively small so the ECB will have trouble finding enough assets to buying. Morgan Stanley says there is €690bn of eligible ABS available and would guess ECB would purchase 10% to 15% of this.