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commercial paper market shrinks to smallest in 16 years

commercial paper market canada goose coats deflated to its smallest in at least 16 years in step buy canada goose jacket with a rapid shrinkage of institutional prime money market fund assets ahead of new regulations that will go into effect next week, Federal Reserve data showed on Thursday. seasonally adjusted commercial paper outstanding fell canada goose outlet toronto factory $30.2 billion to $916.3 billion canada goose deals in cheap Canada Goose the week ended Oct. 5, the lowest level going back to 2000 with the canada goose coats on sale available Fed data.

The accelerated decline of commercial buy canada goose jacket cheap paper purchases by prime funds 2018 canada goose outlet in recent my website weeks have increased the short term corporate borrowing costs, analysts Canada Goose online said.

Companies issue canada goose commercial paper to raise cash canadian goose jacket to finance their inventories and payrolls, while financial institutions use proceeds from these short term canada goose black friday sale debt to fund their Canada Goose Jackets trades.

Institutional prime money funds have been converting over to government only funds in a bid to be exempt from Security and Exchange canada goose store Commission rules on share prices, redemption and fees which are scheduled Canada Goose Parka to take place on Oct. 14.

In a year, this type of funds which had been major buyers of commercial paper has shifted about $1 trillion of assets into the government only category, according to iMoneynet data.

Assets of institutional Canada Goose Online prime funds tumbled by $122.30 billion canada goose outlet store locations to $223.33 billion in the week ended Oct. 4, marking its biggest single week drop in eight years, iMoneyNet canada goose replica said on Wednesday.

That drop was worth $262.96 billion in the week of Sept. Canada Goose Coats On Sale 23, 2008 after the Reserve Primary Fund share value fell below $1 canada goose clearance sale or the buck shortly Canada Goose Outlet after the collapse Canada Goose sale of Lehman Brothers during the global financial crisis, according to iMoneynet.

Non seasonally adjusted commercial paper outstanding which some analysts consider a more reliable reading than the seasonally adjusted one since it has been distorted by the financial crisis fell $32.5 billion to $929.6 billion.

This canada goose clearance was also the lowest level for this data series going back to 2000. (Reporting by Richard Leong; Editing by Marguerita Choy).

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