Notwithstanding the anaemic state of securitization generally, cross-border securitization of Canadian receivables has remained fairly steady, and in some sectors has actually picked up.

This is due in part to Canadian domestic securitization having only slightly recovered from its near-death state, and in part to Canada eliminating virtually all withholding tax on arm's-length interest payments, and thereby providing new access to U.S. and other foreign investors for Canadian loan, lease and consumer receivables.

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