The Federal Reserve has revised its historical ABCP volume numbers dating back to May 2000 to adjust for previously unaccounted programs that caused a nearly $30 billion spike when added in late April - a jump that initially baffled industry pros.

In a new footnote, the Fed states: "Asset-backed commercial paper outstanding level series has been revised to reflect the inclusion of existing but previously unrecorded programs. The revisions affect outstandings from May 2000 to March 2003. Note that all series for which asset-backed outstandings are a subset will be affected by this revision."

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