This new Pandemic Emergency Purchase Programme (PEPP) will have an overall envelope of €750 billion. Purchases will be conducted until the end of 2020 and will include all the asset categories eligible under the existing asset purchase programme (APP). The Governing Council will terminate net asset purchases under PEPP once it judges that the coronavirus Covid-19 crisis phase is over, but not before the end of the year. The ECB will also expand the range of eligible assets under the corporate sector purchase programme (CSPP) to non-financial commercial paper and ease collateral standards by adjusting the main risk parameters of the collateral framework. The Governing Council underlined its commitment to increase the size of its asset purchase programmes and adjust their composition, by as much as necessary and for as long as needed.