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What does asset-backed commercial paper program mean?

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asset-backed commercial paper program
Noun
AE

An arrangement under which a special purpose vehicle (SPV) is established to acquire and hold medium- to long-term financial assets from one or more originator-sellers, with the assets being financed through the sale of ABCP by the SPV (conduit) to outside investors.

Synonym(s): 
  • ABCP program.
  • [BE]: asset-backed commercial paper programme
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