from GS:
The ECB is to expand asset purchases as expected. Under the programme, combined purchases will be €60 billion per month until the end of September 2016 or until the inflation outlook has improved sufficiently. This is a higher figure than the one leaked in press reports yesterday. Purchases will include sovereign debt, but also supra-national agencies. Purchases will be conducted according to capital. There will be partial loss-sharing. The ECB also removes the 10bp spread for coming T-LTRO operations. Overall, the programme is probably more aggressive than expected owing to a) the partial risk-sharing and b) the potential open-endedness of the program.
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