There is no rest for weary U.S. ABCP market participants who have been 'up against it' almost non-stop for the past five years. For a product that enjoyed relative anonymity and little interference for the first couple of decades of its life, its late twenties have been incredibly dynamic as the landscape changed dramatically in the wake of the global credit crisis. The ABCP market of today continues to contract and there has been no shortage of challenges in 2012.

ABCP issuers and investors are still contending with a seemingly endless list of changing banking and money fund regulations that were born out of the credit crisis. Market professionals work tirelessly through this while at the same time trying to manage the lending business and allocate funds in an increasingly precarious global economic environment.

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