# ECB announces Outright Monetary Transactions framework

Date: 2012

Outright Monetary Transactions (OMT) is a program of the European Central Bank under which the bank makes purchases in secondary, sovereign bond markets, under certain conditions, of bonds issued by Eurozone member-states. The program was presented by its supporters as a principal manifestation of [Mario Draghi](/people/mario-draghi)'s commitment to do "whatever it takes" to preserve the euro.

## Sources

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## Methodology

https://factrail.ai/methodology

Canonical: https://factrail.ai/facts/ecb-launches-outright-monetary-transactions-2012-09