Professor Poonam Puri Co-Authors New Book: Back from the Brink: Lessons from the Canadian Asset-Backed Commercial Paper Crisis

Document Type

Article

Publication Date

6-14-2016

Abstract

Back from the Brink: Lessons from the Canadian Asset-Backed Commercial Paper Crisis

As global markets toppled during the 2008 financial crisis, the Canadian market for non-bank asset-backed commercial paper (ABCP) seemed on the verge of collapsing. Fueled by a top rating from DBRS, ABCP had found its way into the portfolios of some of Canada’s most sophisticated investors as well as vulnerable retail investors who didn’t know what they were holding.

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