ECB does not discuss bonds with companies before buying: Draghi

November 17, 2016 9:56 AM EST

European Central Bank (ECB) President Mario Draghi addresses a news conference at the ECB headquarters in Frankfurt, Germany, October 20 , 2016. REUTERS/Kai Pfaffenbach

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FRANKFURT (Reuters) - The European Central Bank does not meet with companies to discuss the terms of their planned bond issues before buying debt in private placements, ECB President Mario Draghi said on Thursday.

"The ECB does not hold prior meetings with corporations in the context of private placements under the CSPP (corporate sector purchase program)," Draghi said in a letter to a member of the European Parliament.

"The Eurosystem is not involved in any ex ante discussions about the characteristics of bonds it may be offered under the CSPP in the primary and secondary markets."

(Reporting By Francesco Canepa)

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