Citi Arranges Funding for $80 Billion in SIVs

Friday's WSJ reports (for subscribers) that Citicorp, through asset sales and commercial paper placements, has arranged funding for the SIVs that it manages.

The article states:

Executives of Citigroup Inc. say the giant bank has secured funding through year end for the $80 billion in structured investment vehicles it manages after selling $20 billion in assets since the midsummer credit crunch.

This does not seem to effect efforts to establish M-LEC, but it should significantly reduce market fears of asset fire-sales.