OK – found it! It’s section 2128.03.3.1 Liquidity Facilities Supporting ABCP of the Fed Supervision Manual – 2007: The Board’s risk-based capital guidelines impose a 10 percent credit-conversion factor on unused portions of eligible short-term …
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Best & Worst Monthly Performances : September, 2007
These are total returns, with dividends presumed to have been reinvested at the bid price on the ex-date. The list has been restricted to issues in the HIMIPref™ indices. Issue Index DBRS Rating Monthly Performance …
Early Commentary on Canadian ABCP
The article Developments and Issues in the Canadian Market for Asset-Backed Commercial Paper, published in the Bank of Canada Financial System Review in 2003 is most interesting. Because the assets are typically of longer maturity …
DW.PR.A, DC.PR.A Not Directly Affected by CI Financial Bid
CI Financial has announced an unsolicited bid for Dundee Wealth: for a price equal to $20.25 per share, representing a premium of approximately $6.94 or 52% per common share based on today’s closing price of …
Arbitrage Possibility on IQW.PR.C
Well, we all know that IQW.PR.C was recently downgraded. But there are still people buying the common, which gives rise to a kind-of interesting arbitrage possibility. According to the prospectus: On and after December 1, …
August 27, 2007
Another reasonably normal day, bearing in mind that we’re talking about financial markets here and the word “normal” needs to be taken with a grain of salt. Of great interest to me (I dare not …
ABCP, Sub-Prime, Coventree
There has been some slight readjustment in the market lately at the intersection of the three titled subjects, and I’ve received some queries regarding how it all works. So, for those who don’t wish to …
BCE.PR.A / BCE.PR.B : Fixed-Rate Dividend Set
BCE has announced: BCE Inc. will, on September 1, 2007, continue to have Cumulative Redeemable First Preferred Shares, Series AA (“Series AA Preferred Shares”) outstanding if holders of at least 2.5 million of its Series …
August 7, 2007
It was a day of mixed indicators, with frenzied traders choosing random bits of data and making bets on them! US equities rose again, continuing a huge rise from yesterday while all sensible people were on …
BBD.PR.B / BBD.PR.D Arbitrage Closes
As fanatical devotees of the preferred share market will know, the two captioned issues are exchangeable into each other every five years … which gives rise to opportunities for arbitrage. There are tax and liquidity …