"​Banks Reiterate Backing For the SIV Rescue Fund" says WSJ. The M-​LEC, or Master Liquidity Enhancement Conduit, a "​super-​SIV" fund designed to take on assets of structured investment vehicles, is steaming ahead regardless of other banks' decisions to back their own SIVs. "SIVs and SIV sponsors have taken several constructive measures over recent weeks to address liquidity-​related issues. We applaud these positive steps. M-​LEC is a private-​sector initiative intended as another solution to help facilitate orderly short-​term credit markets as they relate to SIVs," said a statement to the Journal.

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