Commercial Paper Outstandings

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Commercial Paper Outstandings

• 8/8/08 11/29/08 Change
• Total Commercial Paper 2,182,333
  1,869,682 (14.3)
• Asset Backed Commercial 1,185,619
  840,471 (29.1)Paper
• Non- Financial Commercial 205,381
  195,903 (4.8)Paper
• Financial Commercial 791,333
  833,308 5.3Paper

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Significant Dates

• August 9- BNP Paribas stops withdrawals on 3
  funds due to subprime losses. ECB and Fed add
  liquidity.
• August 10- Countrywide announces "unprecedented"
  disruptions in credit and mortgage markets may
  impact future earnings. ECB and Fed add
  liquidity.
• August 16- Countrywide draws 11.5b of bank
  provided credit lines.
• August 17- Fed cuts the discount rate by 50 bp.
  to 5.75
• August 23-24- Two SIV- lites report difficulty
  repaying commercial paper.
• August 28- SP lowers the rating on SIV Cheyne
  Finance by six notches on the senior debt and two
  notches for the commercial paper.
• August 31- 4 large broker/dealers quarter end.
• September 18- Fed cuts the fed funds and discount
  rates by 50 bp
• October 31- Fed cuts the fed funds and discount
  rates by 25 bp.

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