Total issuance down 61%
Bank-sponsored ABCP to benefit from renewed investor receptiveness
$14 billion margin funding facility arranged
Capital markets unit no longer viable
Fewer than 100 public companies hold significant amounts of non-bank sponsored ABCP, regulators say
Rating agency advocating greater transparency for investors in the structured finance markets
Bank won’t take risk for activities in which it was not involved, Clark says
Standstill agreement extended until end of January
Mavrix Fund Management Inc. today announced that it would backstop the Asset Backed Commercial Paper (ABCP) held in the funds it manages. Mavrix says its funds that hold ABCP have approximately $327 million in assets, of which just under $4 million is ABCP.The company’s money market funds hold less than 3% of ABCP. As well, […]
The Bank of Canada today announced that it plans to start accepting certain types of asset-backed commercial paper as collateral for use under its Standing Liquidity Facility.In the context of the ongoing review of the Bank of Canada’s collateral policy, which began in the spring, the Bank has decided to broaden the range of securities […]