{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

KIC000097 - 7 Exhibit 7-12 i I i Cpm_merr;ia_l Paper...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 7. Exhibit 7-12 i I i ,, Cpm_merr;ia_l_ Paper Ratings Cate gory ‘ ‘ «uremia Mm vii-y...“ balm-pmhmuw-x‘ Commercial Paper (continued) > Directly Pllced Versus Dealer-Pineal Piper f Commemialpcpzr is Musifiad as diherdirua paper or dallzi- _, plum wen i - r. Direulyplmxdpaper i: sold by an inning rm directly In irnrulorl ; minimum“ help ufnn Igem nun immned'ury‘ : r'i. Myflnmdmsm‘alpnpur ruquins flieservimi of In lflallt w ‘ sell In im‘: margin! papri- p > Tier] and Tier 1 Papers -’ A major "Iv/aim in Wmialpaper is money market aims] finds. f “waver. “we are reminder-is imposed an money market mumn] rm; by an SEC. .1 Tu be aligihl: marrialpaper . the tune mun zany cm of the Mhighsl rulings (‘Tii-J-l“ Ur “Tier-1") film: It lens! two with nliionllly rmniud smim'mi rating: agencies. aw “summing...” *1. 1. Emma-41v“; a. Commercial Paper (continued) ___________—__,_____.___. ___________._.__...._——— ____—_______._——-— _—____—_.__—— l‘r Secondary Mnrket / Despite the {mm mm the cammrcmlpnpcr muim is largerfiian inn-km for other mncy mix-kn insu'umeuu, secondary hiding —-——_-————_ activity is much smaller. > Yield! on Commercial Plpcr I Like mery bilig. commzrria‘lpapflis a discount ilisu'limult ' ' — M / Th: commercial paper rale is higher than flu! an Tmsnry bills for It: same mm. o The" are this: muons for this .__._——-——-—-——-——— " i. minvmurinmmum’arpapsri: upmadmcrediuisk. ii. The imam mud from invsnnxin Tie-wry bilk is mp1 fiom mum! Inul imam: mm. " iii. Cauurcialpaprri: Is; liquid than Trusury bills, _____——_.__—— _________.____—.——— “w 5....” ”my, -1m »-v.~x~« ~ r WWW.W..W.WA .._....;.' mm.“ am.” u may“: iWaJV Mmhmn‘fiwuo -- .« Wuhanwmfi‘w AM- ...\..__._.u____ u..._. ...
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online