August 4, 2009
The size of the market for commercial paper in the U.S. has fallen dramatically since its peak in July 2007. After the disruptions of the Asset-Backed Commercial Paper (ABCP) crisis in August 2007 and the Lehman bankruptcy, the Federal Reserve created a commercial paper funding facility to restore liquidity. However the market for commercial paper has continued to shrink in 2009 straining financial intermediaries who have relied on the market for funding.
FRB: Commercial Paper
Reuters: U.S. Commercial Paper
WSJ: Commercial Paper Outstanding
Keogh, Condon: Commercial Paper Falls Most Ever
Opinions expressed on CFR blogs are solely those of the author or commenter, not of CFR, which takes no institutional positions.
Post a Comment
CFR seeks to foster civil and informed discussion of foreign policy issues. All comments must abide by CFR's guidelines and will be moderated prior to posting.