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Keywords:Commercial paper issues 

Journal Article
Eurocommercial paper and U.S. commercial paper: converging money markets?

Quarterly Review , Volume 12 , Issue Aut

Journal Article
Are bank loans still special?

Economic Review , Volume 77 , Issue Q III , Pages 71-84

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 ...
Economic Review , Volume 88 , Issue Q I , Pages 55-76

Journal Article
Commercial paper: a colossal market

National Economic Trends , Issue Oct

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.
The Regional Economist , Issue Apr , Pages 5-9

Journal Article
The commercial paper market, the Fed, and the 2007-2009 financial crisis

Since its inception in the early nineteenth century, the U.S. commercial paper market has grown to become a key source of short-term funding for major businesses, with issuance averaging over $100 billion per day. In the fall of 2008, the commercial paper market achieved national prominence when increasing market stress caused some to fear that, given its size and importance, the market's failure would sharply worsen the recession. The Department of the Treasury and Federal Reserve enacted programs targeted at providing credit and liquidity to restore investor confidence. The authors review ...
Review , Volume 91 , Issue Nov , Pages 589-612

Working Paper
The effect of a rating change on commercial paper outstandings

Finance and Economics Discussion Series , Paper 185

Working Paper
Debt maturity choice and risk-free assets: the \\"clientele effect\\" and the commercial paper market

Finance and Economics Discussion Series , Paper 94-4

Working Paper
The term structure of commercial paper rates

This paper tests the expectations hypothesis in the market for commercial paper. Our main dataset, which is new to the literature, consists of daily indexes constructed from the actual market yields for nearly all commercial paper issued by U.S. corporations between January 1998 and August 2003. We show that the term premia built into commercial paper yields rise dramatically at year-end, causing the expectations hypothesis to be rejected. However, once we control for these predictable year-end effects, we find the reverse--that commercial paper yields largely conform with the expectations ...
Finance and Economics Discussion Series , Paper 2004-18

Working Paper
The effect of SEC amendments to rule 2A-7 on the commercial paper market

Finance and Economics Discussion Series , Paper 199

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