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Buying bank bonds would have "many downsides" for ECB - Lane

Reuters - UK Focus

LONDON, Oct (HKSE: 3366-OL.HK - news) 28 (Reuters) - There would be "many downsides" for the European Central Bank if it bought the bonds of the euro zone's banks, Ireland (Other OTC: IRLD - news) 's member of the ECB Governing Council Philip Lane said on Friday.

"Investing in bank bonds would have many downsides for a central bank, it is not part of current strategy," Lane said at a Reuters Newsmaker event.

He added that the negative effects of the ECB's unconventional measures such as negative interest rates: "Have so far been limited."

(Reporting by Marc Jones and Padraic Halpin)