Search Results
Journal Article
Asset-backed commercial paper programs
Working Paper
The cost competitiveness of the Europaper market
Very little has been written about the cost competitiveness of the market for Europaper (Euronotes and Eurocommercial paper) despite the extraordinarily rapid growth of this market over the past three years. This paper tries to compare costs to the borrower on 3-month Europaper with similar costs in the U.S. commercial paper market. On the basis of weekly data in the period June-October, the conclusion is reached that the costs may have been lower in the Europaper market roughly one-third to one-half of the time. Rates paid to investors are, at most times and for most borrowers, lower in the ...
Journal Article
The commercial paper market since the mid-seventies
Monograph
Instruments of the money market
Journal Article
The commercial paper market: who's minding the shop?
Commercial paper has become a force to be reckoned with in the U.S. money market. It comes with risks, though, that shouldn't be papered over.
Journal Article
The evolution of the U.S. commercial paper market since 1980
Journal Article
Why has the nonfinancial commercial paper market shrunk recently?
The total volume of nonfinancial commercial paper outstanding peaked in the fall of 2000 and has declined rapidly ever since. By September 2002, the market had shrunk more than 50 percent. Relative to historical patterns, both the magnitude and the timing of the decline are unusual. The decline is the largest on record, and the market started to shrink before the recent recession began. In the past, the volume of commercial paper outstanding tended to increase during the early stages of recessions. ; Commercial paper is an important source of external funding for corporate borrowers and has ...