Fitch Ratings releases "​Asset-​Backed Commercial Paper & Global Banks Exposure - 10 Key Questions". The London-​authored report says "Banks, acting as sponsors of Asset-​Backed Commercial Paper (​ABCP) programmes have at the epicentre of a rapidly developing storm in the commercial paper market.... It should be noted though that the majority of ABCP programs have committed liquidity lines ... and therefore CP noteholders are not exposed to market value risk.... [​S]​ponsor banks are the main providers of liquidity lines."

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