Draghi confirmed the asset purchases would "include the real estate, the RMBS, real estate ABS. It would also include a fairly wide range of ABS containing loans to the real economy," but only "the senior tranches, and the mezzanine tranches only if there is a guarantee."
Now, just three weeks later, he wants to buy outright junk, presumably without guarantees.
Please consider Mario Draghi pushes for ECB to accept Greek and Cypriot 'junk' loan bundles.
Mario Draghi is to push the European Central Bank to buy bundles of Greek and Cypriot bank loans with "junk" ratings, in a move that is set to exacerbate tensions between Germany and the bank.