The European Central Bank might buy covered bonds issued by National Bank of Greece SA under its quantitative easing program, Thomson Reuters' IFR reported, citing "financial sources familiar with the matter."

National Bank of Greece recently issued €750 million of covered bonds. This could be the first debt issued by a Greek bank that the ECB can buy, the newswire noted.

Two bankers who worked on the deal said the bonds could be eligible for the ECB's asset purchase program. The central bank is not believed to have bought any so far, however.

Other Greek banks are expected to issue covered bonds in the coming weeks which should also be eligible, the newswire said.