SCOTTSDALE, Ariz. - One of the major themes that seemed to pervade the SRI conference was the desire for firms to find good alternatives to traditional asset-backed commercial paper funding (see SIV story, p.1), and in line with that concept, BMO Nesbitt Burns Managing Director Jeff Phillips announced that his company is preparing to launch a new extendable MTN program by the end of the first quarter.

"For our U.S.-based conduits, we have determined that an extendable MTN program is the best alternative to complement our traditional ABCP funding strategy," said Ronald Kirchler, vice president at BMO Nesbitt Burns.

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