Commercial Paper Market Being Revived by Citigroup,JPM, and Bank of America
October 15, 2007
Bank of America, Citigroup, and JP Morgan are expected to announce as early as today the establishing of an $80 Billion Commercial Paper fund. The fund is aimed at helping unlocking the asset-backed paper market from its current condition.
The fund might also help avoid units setup to provide subprime debt from selling off their assets [...]