asset-backed commercial paper program
Noun
AE
An arrangement under which a special purpose vehicle (SPV) is established to acquire and hold medium- to long-term financial assets from one or more originator-sellers, with the assets being financed through the sale of ABCP by the SPV (conduit) to outside investors.
Synonym(s):
- ABCP program.
- [BE]: asset-backed commercial paper programme.
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