With ABCP markets disrupted since last summer, the Bank of Canada began soliciting feedback in early March on its proposed eligibility criteria for accepting ABCP as collateral for borrowings under its Standing Liquidity Facility (SLF). The Bank of Canada's actions are an attempt to inject liquidity into a constrained ABCP market in Canada and to promote minimum acceptable standards of disclosure and transparency, which should benefit all market participants.

On March 31, 2008 the Bank of Canada published the eligibility criteria and conditions for ABCP to qualify as eligible collateral under its SLF that became effective as of that date. For the Bank of Canada to consider accepting, ABCP as collateral for the SLF, the programs must meet certain criteria including:

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