http://www.dianaswednesday.com/2008/01/wednesday-night-1351/ Where the world comes together Sun, 06 Jul 2008 19:36:44 +0000 http://wordpress.org/?v=2.2.2 http://www.dianaswednesday.com/2008/01/wednesday-night-1351/#comment-1143 Diana Thébaud Nicholson Tue, 05 Feb 2008 05:33:39 +0000 http://www.dianaswednesday.com/2008/01/wednesday-night-1351/#comment-1143 <strong>The <a href="http://www.ottawabusinessjournal.com/290921791714455.php" rel="nofollow">Ottawa Journal reports</a>: "Four of Canada's largest banks have agreed to support the restructuring of $35-billion-worth of asset-backed commercial paper, working with the Pan-Canadian Investors Committee on the plan.</strong> The Bank of Montreal, Canadian Imperial Bank of Commerce, Royal Bank of Canada and Bank of Nova Scotia said they will join National Bank as lenders in a $14-billion margin call funding facility which will serve as a backup line of credit for the bonds that will replace the frozen non-bank ABCP. The investment vehicles were a key factor in the massive credit crunch which struck the North American markets in August." The Ottawa Journal reports: “Four of Canada’s largest banks have agreed to support the restructuring of $35-billion-worth of asset-backed commercial paper, working with the Pan-Canadian Investors Committee on the plan.
The Bank of Montreal, Canadian Imperial Bank of Commerce, Royal Bank of Canada and Bank of Nova Scotia said they will join National Bank as lenders in a $14-billion margin call funding facility which will serve as a backup line of credit for the bonds that will replace the frozen non-bank ABCP. The investment vehicles were a key factor in the massive credit crunch which struck the North American markets in August.”

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