Article 1 Amendment

In Article 2 of Decision ECB/2014/40, the following point 7 is added:

‘7. Purchases of nominal covered bonds at a negative yield to maturity (or yield to worst) equal to or above the deposit facility rate are permitted. Purchases of nominal covered bonds at a negative yield to maturity (or yield to worst) below the deposit facility rate are permitted to the extent necessary.’.

Article 2 Entry into force

This Decision shall enter into force on 13 January 2017.

Done at Frankfurt am Main, 11 January 2017.

For the Governing Council of the ECB

The President of the ECB

Mario Draghi