Notable features of the ABCP include: 1. Cash flow mismatch between receivables (without maturities, non interest bearing) and commercial paper (CP) notes issued to investors (floating-rate, with maturities) makes the credit and liquidity support critical. 2. It is a "continuous conveyance" vehicle: the conduit (special purpose entity) is purchasing receivables and issuing CP to investors on a rolling basis.
- Күн бұрын
Asset-backed commercial paper (ABCP) conduit to securitize r
- Рет қаралды 36,858
Пікірлер: 7