DECISION (EU) 2020/440 OF THE EUROPEAN CENTRAL BANK of 24 March 2020 (ECB/2020/17) on a temporary pandemic emergency purchase programme
Article 4
Purchase amounts
Purchases shall be carried out under the PEPP to the extent deemed necessary and proportionate to counter the threats posed by the extraordinary economic and market conditions on the ability of the Eurosystem to fulfil its mandate. In order to enable the effectiveness of this exceptional decision, the consolidation of holdings under Article 5 of Decision (EU) 2020/188 (ECB/2020/9) shall not apply to PEPP holdings.
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