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S&P Credit Research2463 word report
published Jul 10, 2009
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S&P Credit Research
| Abstract: | On June 8, the Bank of England (BoE) published for consultation its proposed plan to widen the range of assets it buys under its asset purchase facility (APF). It intends to introduce a facility to buy asset-backed commercial paper (ABCP) from approved conduit issuers for a limited period in the primary and secondary market. Its aim is to promote liquidity in the secondary ABCP market. Standard&Poor's Ratings Services believes that the BoE's proposal is a positive move to support the revival of the ABCP investor market while providing support to U.K. companies whose trade receivables and other such assets are typically bought by ABCP conduits as collateral. If approved, we think that the proposed secured commercial paper facility
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| Brief Excerpt: | RESEARCH Ratings Definitions For The Bank Of England's ABCP Funding Facility To Promote Liquidity, Changes Are Needed To Its Eligibility Criteria Publication date: 10-Jul-2009 Surveillance Credit Analyst: Andrea Quirk, London (44)...
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| Report Type: | Commentary
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| Sector: | Structured Finance
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
