Bank of Canada sees joint commitment by major Bank CEOs on bank-sponsored asset-backed commercial paper (ABCP) as positive step

The Bank of Canada continues to monitor the functioning of Canada's financial markets and to make liquidity available as required. The commitment by Canada's major bank CEO's to work together to support the performance and liquidity of the market for bank-sponsored asset-backed commercial paper (ABCP) is a further positive step to help re-establish well functioning money markets in Canada. This commitment is underpinned by the strength of their financial positions, their confidence in the underlying assets, and their ongoing commitment to provide liquidity for bank-sponsored ABCP on maturity.