UPDATE 1-ECB says national central banks have flexibility on QE bond loans

April 2, 2015 3:26 PM

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LONDON, April 2 (Reuters) - The ECB laid out plans on Thursday to make bonds bought in its 1 trillion-euro stimulus programme available for borrowing, but said national central banks would have some flexibility in how they applied them.

As part of a plan to keep its 1 1/2-year quantitative easing plan from distorting bond markets, the ECB set out a 'securities lending' framework that will initially see itself and eight of the 19 national euro zone central banks lending bonds.

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