Bank of America is planning to launch a partially supported asset-backed commercial paper conduit with the flexibility to buy ABCP debt from other vehicles as well as non-dollar denominated assets.

The vehicle is called Enterprise Funding Co. and will have a program limit of $12 billion. Assembled using very traditional ABCP techniques, Enterprise will be able to invest in a broad range of assets, to be financed by issuing ABCP with a maximum tenor of up to 270 days.

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