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commercial paper

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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 »

BNET Resources

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...
Tags: Financial accounting, Investment, University of Chicago, commercial paper, conduit, GAAP, liquidity, financial reporting, financing, financial
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...
Tags: Financial services, commercial paper, bank, sole proprietorship, shareholder, finance, partnership
White papers 2005-03-01
Issues and recommendations regarding Commercial Paper settlement practices
This article is related to commercial papers that are related to equity. The Bond Market Association and The Depository Trust & Clearing Corporation The Bond Market Association and The Depository Trust & Clearing Corporation are jointly issuing this Discussion Paper3 regarding the settlement of U.S. commercial paper CP and...
Tags: commercial paper, Depository Trust & Clearing Corp., equity, settlement, bond
White papers 2003-03-01
Discussion Paper: Issues and Recommendations Regarding Commercial Paper Settlement Practices
This Discussion Paper has been prepared as part of an extensive industry effort to improve the process for the clearance and settlement of MMI. To a considerable extent, this effort is a response to perceived concerns about levels of credit risk incurred by money market participants during the days following...
Tags: SECURITY, commercial paper, terrorist attack, industry
White papers 2003-03-01
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...
Tags: Investment, Financial services, National Bureau of Economic Research, commercial paper, liquidity, inflow, bank, theory, asset, pricing strategy, backup, financial
White papers 2003-01-01
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...
Tags: Managerial accounting, Asset management, Investment, Penton Media Inc., commercial paper, working capital, borrower, financing, asset, liquidity, standards, accounting, patch management, bank, tool
White papers 2001-05-01
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...
Tags: commercial paper, finance, accounts receivable, asset, liquidity, bond
White papers 2000-03-03

Additional Resources

Fitch Downgrades CenturyTel's IDR to 'BBB-'; Outlook Stable
CHICAGO -- Fitch Ratings has downgraded CenturyTel, Inc. (NYSE:CTL) CenturyTel as follows: --Long-Term Issuer Default Rating IDR to 'BBB-' from 'BBB'; --Senior unsecured revolving credit facility to 'BBB-' from 'BBB'; --Senior unsecured debt to 'BBB-' from 'BBB'; --Short-Term IDR to 'F3' from...
Articles 2008-06-24
AllFinancial Group LLC and Babcock & Brown Obtain $135 Million in Additional Financing for Life Settlement Joint Venture
STAMFORD, Conn., June 24 /PRNewswire/ -- AllFinancial Group LLC and Babcock & Brown are pleased to announce that Life Trade Holdco LLC, their recently formed joint venture to capitalize on emerging opportunities in the life settlement market, has obtained a $135 million credit facility from Autobahn Funding Company, LLC,...
Articles 2008-06-24
Fitch Affirms Hubbell's IDR at 'A'; Outlook Stable
CHICAGO -- Fitch Ratings has affirmed the ratings for Hubbell Incorporated (NYSE: HUB/B) as follows: --Issuer Default Rating IDR at 'A'; --Senior unsecured credit facilities at 'A'; --Senior unsecured debt at 'A'; --Short-Term IDR at 'F1'; --Commercial paper CP at...
Articles 2008-06-23
Fitch Withdraws Ratings of Windsor Funding Trust
NEW YORK -- Fitch Ratings has withdrawn the 'F1+' rating for the secured liquidity notes and withdrawn the 'BBB' rating for the subordinated notes issued by Windsor Funding Trust, the asset-backed commercial paper ABCP program sponsored by Newcastle Investment Corp. The action follows the sponsor's decision to terminate...
Articles 2008-06-23
Fitch Rates Rockies Express $1.3 Billion Notes 'BBB'
NEW YORK -- Fitch Ratings has assigned a 'BBB' rating to Rockies Express Pipeline LLC's REX offering of $1.3 billion senior unsecured notes senior notes. The senior notes are expected to be issued in three tranches, with maturities of 5, 10 and 30 years. REX's Issuer Default Rating IDR is...
Articles 2008-06-23
Too easily we forgive bad behavior
The other day, a colleague at work said the best story in that day's edition of the paper was buried as a brief on Page A2. It described how television executives in Britain asked comedian Joan Rivers to leave their show during a commercial break. They were angry that she...
Articles 2008-06-22
OSFI Rule Changes Reflect Observations Made During ABCP Disruption
The Office of the Superintendent of Financial Institutions OSFI is seeking comments on a draft advisory on the capital treatment of securitization exposures for Canadian Federally Regulated Entities FREs. "This draft advisory takes into account some observations made during the recent turmoil in Canadian and international securitization markets," said Superintendent...
Articles 2008-06-19
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...
Articles 2008-06-17
Fitch Rates Thomson Reuters Proposed Notes 'A-'; Outlook Stable
CHICAGO -- Fitch Ratings has assigned an 'A-' rating to Thomson Reuters Corp.'s TRI proposed benchmark-size senior unsecured notes due 2013 and 2018. Proceeds are expected to be used to reduce borrowings under the company's acquisition facility. The proposed debt is expected to be pari passu with other senior unsecured...
Articles 2008-06-17
Fitch Withdraws Ratings on International Paper
NEW YORK -- Fitch Ratings has affirmed and simultaneously withdrawn the ratings on International Paper Company IP. Fitch will no longer provide analytical coverage on IP. The Rating Outlook on all ratings is Negative. Ratings affirmed and withdrawn: --Long-term Issuer Default Rating IDR 'BBB-'; ...
Articles 2008-06-17
Fitch Downgrades Tyson's IDR to 'BB+'; Outlook Negative
CHICAGO -- Fitch Ratings has downgraded the ratings for Tyson Foods, Inc. Tyson(NYSE:TSN) and its subsidiaries as follows: Tyson --Issuer Default Rating IDR to 'BB+' from 'BBB-'; --Unsecured bank facility to 'BB+' from 'BBB-'; --6.85% 2016 senior unsecured notes to 'BB+' from...
Articles 2008-06-17
Fitch Affirms ExxonMobil's IDR at 'AAA'; Outlook Remains Stable
CHICAGO -- Fitch Ratings has affirmed the following ratings of Exxon Mobil Corporation ExxonMobil: --Issuer Default Rating IDR at 'AAA'; --Senior Unsecured Debt at 'AAA'; --Commercial Paper at 'F1+'; --Short-Term IDR at 'F1+'; The Rating Outlook is Stable. ...
Articles 2008-06-17
Fitch Affirms Aon's Ratings; Outlook Stable
CHICAGO -- Fitch Ratings has affirmed Aon Corporation's Aon Issuer Default Rating IDR at 'BBB+', its related senior debt ratings, as well as the commercial paper rating at 'F2'. The Rating Outlook is Stable. (See all ratings listed below.) Aon's ratings reflect Aon's progress in developing a new...
Articles 2008-06-16
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