There are some other sectors of the money market that are not so plain and simple. These include asset-backed commercial paper (ABCP) and certain triparty repo transactions. A firm with hard-to-sell ...
Alpine Securitization Ltd, a funding vehicle of the Swiss bank, issued these ABCP at a time when there is growing investor demand for ESG-focus products. "As a pioneer in renewable energy finance, ...
Note that for all of January and most of February, before the onset of the crisis, SDN and ABCP yields were similar to those of BAs. This reinforces their use as close substitutes, or twins, for BAs.
Fortunately, that is relatively balanced. And I think that, that securitization number also includes, of course, sales into our ABCP conduits. Those conduits are also quite mature platforms.