European banks ‘committed’ to ABCP despite MMF fears

By Tom Porter
09 Dec 2014

Asset backed commercial paper issuance by European banks should remain stable next year despite the impeding effects of incoming money market fund regulations on the make-up of conduit portfolios, according to Fitch.

“European sponsor banks seem committed to maintaining ABCP programs and the pipeline of new transactions has been steady,” said Fitch senior director Kevin Corrigan.

Outstanding European ABCP peaked at around $300bn (€243bn) in mid-2007 before collapsing in the wake of the financial crisis, but it has been stable ...

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