Despite reports of increased origination activity, outstanding asset-backed commercial paper continued to slide last week, declining to just $1.4 billion above the $700 billion threshold, according to Wednesday numbers provided by the Federal Reserve.

Month-end outstandings haven't been below $700 billion since August 2001. Last week, Standard & Poor's released a report anticipating renewed growth in the corporate commercial paper market, hand-in-hand with a quicker economy and attractive sell-side conditions.

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