Does anyone know where I can find a good backgrounder (history/context) on asset-backed commercial paper (ABCP)?
2007-12-11 02:55:05 · 1 answers · asked by Links 1 in Business & Finance ➔ Investing
I would go to an academic library and look at a 1970's banking textbook. If memory serves me correctly, it was actually McDonald's that created commercial paper. I believe it was nicknamed "McMoney," by traders. They were a half step from the banker's acceptance that has traded for hundreds of years. They realized they could borrow directly from institutional investors and bypass the banking system. The first money market funds were in the very late sixties and early seventies. The creation of funds to buy t-bills and bankers acceptances allowed the creation of commercial paper. You might try wikipedia otherwise.
2007-12-11 03:06:45 · answer #1 · answered by OPM 7 · 0⤊ 0⤋