Commercial Paper Hits a Volume Records.

The article reports on the increase in the daily issuance volumes of asset-backed commercial paper in September 2007 according to U.S. Federal Reserve data. The daily issuance average of asset-backed commercial paper rose from $88.6 billion to $90.6 billion. It explains that the rise in short-term paper is caused by credit crisis which made some investors hesitant to lend for longer periods due to concerns over issuers' exposure to U.S. mortgage market. As of August 24, about $936 billion in commercial paper will mature by September 14.