Asset-Backed Commercial Paper

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Asset-Backed Commercial Paper

A short-term debt security issued by a corporation that is collateralized by some asset. In general, asset-backed commercial paper is secured by accounts receivables or something similar. It carries less risk than other commercial paper, which is unsecured. It is a highly liquid investment and forms part of the money market.

References in periodicals archive ?

-Sallie Mae completes issue of asset backed commercial paper facility

A credit guarantee for 5% of the value of the assets financed by the program is issued by the bank which sponsors the asset backed commercial paper program.

C'est La VIE: FIN 46

Canadian securities regulators have fined six banks and brokers for their part in selling Asset Backed Commercial Paper (ABCP).

Canadian regulators fine banks in ABCP settlement

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