Banks' Borrowing Bolsters Commercial-Paper Market.

The article reports on the effects of U.S. banks' borrowing on the commercial-paper market. According to the authors, the announcements made by the major Wall Street banks that they were approaching the Federal Reserve for short-term funding helped the country's asset-backed commercial-paper market. Sean Simko of SEI assured that the market is fixed with assets, like credit-card debt and home loans.