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BNET Business Dictionary
- Commercial Paper
- an unsecured short-term loan note issued by companies and generally maturing within nine months
- Commercial Paper definition on BNET »
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- Cultivating Sources Of Capital
- With dry patches in the commercial paper market after defaults by three issuers late last year, and with banks raising their credit standards in a suddenly soft economy, smart corporate borrowers are unearthing new funding sources for working capital. One spot of brightness is asset securitization. When one needs borrowed...
- White papers 2001-05-01
- Banks' Advantage in Hedging Liquidity Risk: Theory and Evidence from the Commercial Paper Market
- This paper argues that banks have a unique ability to hedge against market-wide liquidity shocks. Deposit inflows provide funding for loan demand shocks that follow declines in market liquidity. Consequently, one dimension of bank specialness' is that banks can insure firms against systematic declines in market liquidity at lower cost...
- White papers 2003-01-01
- Commercial Paper, Corporate Finance, and the Business Cycle
- High credit quality is a requirement for entry into the commercial paper market, but long-term credit quality bond rating is not a sufficient statistic for short-term quality. These characteristics allow firms to issuenear-riskless short-term debt and supply a near-money asset to themarket, thereby reducing their interest costs by the amount...
- White papers 2000-03-03
- Altering Investment Decisions to Manage Financial Reporting Outcomes: Asset-Backed Commercial Paper Conduits and FIN 46
- This paper evaluates the manner in which sponsors of highly leveraged Asset-Backed Commercial Paper ABCP conduits responded to FASB Interpretation No. 46 (FIN 46) Consolidation of Variable Interest Entities an Interpretation of ARB No. 51. By matching commercial paper investors with corporations seeking liquidity, ABCP sponsors facilitate a significant amount...
- White papers 2005-03-01
- Corporate Debt Finance
- As with the sole proprietorship and partnership, corporate debt financing may take the form of trade credit or loans. Loans are usually obtained from a bank, although loans might also come from other persons including shareholders. The banks loans may be in the form of a revolving line of credit...
- White papers 2005-03-01
- Bond Funds For The Long Term
- Recent economic and market turmoil has sent investors big and small seeking safe places to invest their money. The markets have been under fire since July 2007, as the crumbling of the U.S. housing market spread into the biggest liquidity crisis in nearly 80 years. Banks have been tightening lending...
- White papers 2008-10-28
- Financial Roundup: Citi Ponders Future, Deflation Worries, Commercial Paper Up, China Promises Non-Polluting Lending
- Citi ponders future â€" Its stock price plunging, CitiGroup Inc. is considering selling itself or its parts. The venerable bank claims it has a strong capital and liquidity position but its stock has slipped 50 percent this week. [Source: The Wall Street Journal] Deflation fears rise â€"...
- Blog posts 2008-11-21
- Financial Roundup: Bush May Expand Bailout, Commercial Credit Thaws, SBA Loans Dry Up, EU Leaders Want Fast Reform
- Are Feds planning a big bailout expansion? -- With President-elect Barack Obama searching for a new Treasury chief, the Bush Administration may be expanding the $700 billion bailout well beyond the $250 billion earmarked for banks. Beneficiaries could include auto financing firm GMAC, insurers Prudential and MetLife, and homeowners who...
- Blog posts 2008-11-07
- 7 Drug Companies Explain How They Dodged (or Didn't) the Credit Crisis
- Drug companies have been the eye of the storm in the recent liquidity crash. High profitability, high cashflow (and making products that people literally can't live without) have left them in a comfortable economic position compared to other consumer-oriented companies. Here’s a selection from recent earnings calls...
- Blog posts 2008-10-22
- D-Day for Money Market Fund Guarantee
- Uncle Sam's guarantee for money-market funds expires today. This emergency measure from "The Week That Shook Wall Street" cue the appropriate scary music, was one of the few decisions that actually calmed ordinary investors at the time. Money market mutual funds were created in 1970 to allow...
- Blog posts 2009-09-18
Additional Resources
- Increase in Commercial Paper Issuance Is Positive Sign for Corporate Growth
- The Federal Reserve released data showing a $67 billion increase in commercial paper outstanding this week. This is the largest weekly expansion in almost a year. Growth in CP issuance indicates more favorable borrowing conditions for corporations and signals a positive trend for corporate growth. The rise in issuance is...
- External links 2009-10-09
- GE Commercial Finance, Commercial & Industrial Finance Names Industry Leader to Drive Growth in Paper and Packaging Marketplace
- NORWALK, Conn. -- GE Commercial Finance, Commercial & Industrial Finance CIF today announced the appointment of Allan Wieman as Industry Leader for the paper, packaging, printing and forest products marketplace.
- Research articles 2005-05-12
- Abbey National to sell commercial paper to fund its new project finance activities.
- ABIX via COMTEX) -- A new Australian currency denominated commercial paper program is in place for Abbey National Treasury Services Australia. The new finance subsidiary of Abbey National for Australia plans to finance its funding requirements in Australia once the banking licence is granted. The Sydney...
- Research articles 2002-07-01
- Moody's Public Finance Department Rating News Moody's confirms ratings on Texas Public Finance Authority Commercial Paper Programs, University of Texas Permanent University Fund Variable Rate Notes, and State of Texas Veterans' Housing Assistance Program
- NEW YORK--BUSINESS WIRE--Dec. 20, 1994--Effective today, Moody's has reviewed and confirms the ratings assigned to two commercial paper programs of the Texas Public Finance Authority, a variable rate notes issue of the University of Texas System-Permanent University Fund, and a variable rate bonds issue for the Texas Veterans'...
- Research articles 1994-12-20
- Fitch Rates Tyco's New Commercial Paper Program 'F2'
- CHICAGO -- Fitch Ratings has assigned a rating of 'F2' to a new private placement commercial paper CP program implemented by Tyco International Finance S.A. TIFSA and guaranteed by Tyco International Ltd. TIL.
- Research articles 2008-04-11
- Citigroup's Randy Harrison to Moderate State of the Market Session at 11th Annual Asset-Backed Commercial Paper Summit
- NEW YORK -- ALM Events today announced that Randy Harrison, managing director, Citigroup, will moderate a panel discussion on the "State of the ABCP Market after the ABS/Structured Finance Market Liquidity Firestorm" at its upcoming 11th Annual Asset-Backed Commercial Paper Summit. The event will take place May 7-8 at the...
- Research articles 2008-05-01
- SRI Presents the 11th Annual Asset Backed Commercial Paper Summit
- NEW YORK -- ALM's Strategic Research Institute presents the 11th Annual Asset Backed Commercial Paper Summit - the ABCP Market's Longest-Running Event! This renowned conference is scheduled to take place at the Westin New York Times Square Hotel on May 7-8, 2008, and promises to unite over 250 professionals to...
- Research articles 2008-03-10
- Fitch Rates New York City Municipal Water Finance Authority's $500MM 2008 Series DD Revs 'AA'
- NEW YORK -- Fitch Ratings has assigned an 'AA' rating to New York City Municipal Water Finance Authority's NYW approximately $500 million water and sewer system second general resolution revenue bonds, 2008 series DD. The proceeds will be used to refund outstanding commercial paper and to finance certain projects capital...
- Research articles 2008-05-27
- Fitch Rates New York City Municipal Water Finance Authority's $499.5MM 2008 Series A Revs 'AA'
- NEW YORK -- Fitch Ratings has assigned an 'AA' rating to New York City Municipal Water Finance Authority's NYW approximately $499.5 million water and sewer system first general resolution revenue bonds, 2008 series A. The proceeds will be used to refund outstanding commercial paper and to refund a portion of...
- Research articles 2007-12-03
- Fitch Rates Texas Public Finance Authority's $225MM GOs 'AA+'; Outlook Stable
- NEW YORK -- Fitch Ratings has assigned an 'AA+' rating to the Texas Public Finance Authority's the authority approximately $225,000,000 State of Texas the state general obligation GO and refunding bonds series 2008A. The bonds are expected through negotiation the week of July 7, 2008. Fitch has also affirmed the...
- Research articles 2008-06-17
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