Riksbank uses external consultant for analysis work
To keep monetary policy expansionary and provide support to the economy, the Executive Board decided on 19 March to purchase, within the scope of the Riksbank’s bond purchase programme, bonds and certificates issued by Swedish non-financial corporations. The situation on the market for commercial paper has gradually stabilised since the Riksbank began buying commercial paper on 2 April. However, the market situation is still uncertain. The Riksbank is therefore following and analysing developments on the commercial paper and corporate bond market to ensure there is a readiness to take further measures if this is required to stabilise the market.
To this end, The Riksbank has decided to use BlackRock’s Financial Markets Advisory (FMA) unit as external consultant. The project includes an analysis of the Swedish corporate bonds market and an assessment of possible design options for a potential corporate bonds asset purchase programme. This analysis is expected to be completed during the month of May 2020.