US commercial paper market rises in week-Fed

NEW YORK, Oct 28 (BestGrowthStock) – The U.S. commercial paper
market expanded for a sixth straight week in the latest week,
Federal Reserve data showed on Thursday.

For the week ended Oct. 27, the size of the U.S. commercial
paper market, a vital source of short-term funding for
companies’ day-to-day operations, rose $22.8 billion to $1.168
trillion outstanding from $1.145 trillion the previous week.

Asset-backed commercial paper outstanding rose by $11.0
billion after rising by $5.2 billion the previous week.

U.S. asset-backed commercial paper rose to $413.6 billion
outstanding in the latest week from $402.6 billion.

Unsecured financial issuance rose by $16.1 billion after
rising $11.6 billion the previous week.

The overall U.S. commercial paper market peaked at about
$2.2 trillion outstanding in August 2007 when the credit crisis
broke out.
(Reporting by Chris Reese: Editing by Chizu Nomiyama)

US commercial paper market rises in week-Fed