Canadian Bank Faces C$70 Mln ABCP Penalty

11 Dec 2009

National Bank of Canada is facing a potential penalty of C$70 million ($66 million) for its role in the asset-backed commercial paper debacle that plagued the commonwealth in 2007.

National Bank of Canada is facing a potential penalty of C$70 million ($66 million) for its role in the asset-backed commercial paper debacle that plagued the commonwealth in 2007. The figure is by far the largest of any other bank, with Bank of Nova Scotia and Canadian Imperial ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial