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:
This does not seem to effect efforts to establish M-LEC, but it should significantly reduce market fears of asset fire-sales. Sphere: Related ContentExecutives 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.
1 comment:
Thank goodness! Remember, in God we trust, everyone else pays cash.
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