WSJ Says "In Tight Market, Banks Woo Buyers For Commercial Paper". Today's Wall Street Journal discusses the euro commercial paper market and the pending rollover of $120 billion in CP. The article says, "While there is little sign the market is opening up, a few rays of hope are emerging. In Australia, the central bank has broadened the definition of assets it would accept as collateral for short-term funding.... In the U.S., money-market funds haven't suffered big redemptions and thus still have money to put to work. Investors in these funds also are willing to hold commercial paper for slightly longer time frames, suggesting some stability may be returning, though the funds may find their investors want a limited diet of short-term paper." It adds, "Bank affiliates, known as conduits and structured investment vehicles, ... are seeking to calm investor unease by disclosing an unusual level of information about their holdings, especially their exposure to subprime loan assets.

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