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	<title>Comments on: Wednesday Night #1332 - Jacques Clément Report</title>
	<link>http://www.dianaswednesday.com/2007/09/wednesday-night-1332-jacques-clements-report/</link>
	<description>Where the world comes together</description>
	<pubDate>Fri, 08 Aug 2008 21:24:41 +0000</pubDate>
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		<title>By: Diana Thébaud Nicholson</title>
		<link>http://www.dianaswednesday.com/2007/09/wednesday-night-1332-jacques-clements-report/#comment-305</link>
		<author>Diana Thébaud Nicholson</author>
		<pubDate>Mon, 17 Sep 2007 06:16:10 +0000</pubDate>
		<guid>http://www.dianaswednesday.com/2007/09/wednesday-night-1332-jacques-clements-report/#comment-305</guid>
		<description>&lt;a href="http://www.canada.com/nationalpost/financialpost/story.html?id=a21467b6-3c39-4bfb-b311-629d383b534f&#038;k=74680" rel="nofollow"&gt;&lt;strong&gt;Banks pledge to work together to calm ABCP market&lt;/strong&gt;&lt;/a&gt;
John Greenwood, Financial Post
Published: Tuesday, August 21, 2007

In their first joint statement since the SARS crisis sent Bay Street for a tumble, the six big banks Tuesday banded together to reassure investors that the market for bank sponsored asset backed commercial paper remains healthy despite the recent near collapse of the non-bank sponsored sector. ... Most seriously affected was the so-called third-party commercial paper, or ABCP issued by non-bank firms, worth about $35-billion. Demand for those products dried up last week. Now, with waves from the sub-prime crisis spreading around the globe, concern is focusing on sectors closest to ones that have already been hit, such as bank sponsored ABCP, a market worth about $75-billion.</description>
		<content:encoded><![CDATA[<p><a href="http://www.canada.com/nationalpost/financialpost/story.html?id=a21467b6-3c39-4bfb-b311-629d383b534f&#038;k=74680" rel="nofollow"><strong>Banks pledge to work together to calm ABCP market</strong></a><br />
John Greenwood, Financial Post<br />
Published: Tuesday, August 21, 2007</p>
<p>In their first joint statement since the SARS crisis sent Bay Street for a tumble, the six big banks Tuesday banded together to reassure investors that the market for bank sponsored asset backed commercial paper remains healthy despite the recent near collapse of the non-bank sponsored sector. &#8230; Most seriously affected was the so-called third-party commercial paper, or ABCP issued by non-bank firms, worth about $35-billion. Demand for those products dried up last week. Now, with waves from the sub-prime crisis spreading around the globe, concern is focusing on sectors closest to ones that have already been hit, such as bank sponsored ABCP, a market worth about $75-billion.</p>
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