ABCP in funds sponsored by major Canadian banks
Bank expects to acquire approximately $2 billion in ABCP
Liquidity is sound, S&P says
Attempts to roll-over maturing ABCP into new ABCP in Coventree’s conduits were unsuccessful
Central bank calls commitment “helpful”
Banks supportive of industry restructuring of non-bank asset-backed commercial paper market
With the S&P/TSX composite index down about 570 points at midday, Jim Flaherty, Minister of Finance, made a statement intended to assuage investors.“As I have said before, Canada is not immune to fluctuations in global financial markets. Clearly, there are stresses in some corners of the Canadian money markets. The Bank of Canada took additional […]
Short-term, third-party, asset-backed commercial paper to be converted into floating-rate notes
DBRS has placed a slew of asset-backed commercial paper issuers “Under Review with Developing Implications”, following the announcement earlier today that a consortium representing banks, asset providers and major investors in the ABCP issuers agreed in principle to take significant steps to establish “normal operations in the Canadian Third Party ABCP market.” The segment of […]
Liquidity providers made funds available in a timely fashion