The ECB published its Decision (EU) 2015/1613 which sets out the conditions for its purchase of guaranteed mezzanine tranches of asset backed securities under its Asset-Backed Securities Purchase Programme. The ECB had initially indicated that purchases of mezzanine tranches would be limited to EU state-guaranteed tranches. The decision by the ECB not to limit such purchases will mean that a greater proportion of mezzanine tranches are available for purchase