Citibank held onto its spot as the largest ABCP program administrator, with $83.9 billion in paper issued from its 13 programs at the end of the first quarter, according to Moody's Investors Service, which published its mid-year review of the ABCP market in late August. On the issuance side, European appetite for short-term funding, a higher utilization rate and market infatuation with repurchase agreements helped boost ABCP outstandings to a hearty $920 billion by the end of June.

The giant bank maintained a substantial lead over its competitors, with second-place finisher ABN Amro Bank completing the first quarter with $66.9 billion in ABCP outstandings from its nine programs. Moody's attributed the bank's performance to issuance from its $33 billion program, Amstel Funding. Finishing out the top five issuers of ABCP were JPMorgan Chase, with $44.2 billion; HBOS Treasury Services, with $38.9 billion; and Deutsche Bank, which had $31 billion in issuance.

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