Minister of Finance Welcomes Further Progress on Restructuring of Asset-Backed Commercial Paper



    OTTAWA, Feb. 4 /CNW Telbec/ - The Honourable Jim Flaherty, Minister of
Finance, issued the following statement today:

    "I welcome the further progress announced today by the Pan-Canadian
    Investors Committee toward the restructuring of non-bank asset-backed
    commercial paper (ABCP), including the participation of Canadian banks.

    The Government has been monitoring this market-led process closely and it
    recognizes the contribution of all participants to the restructuring plan
    announced on December 23.

    I appreciate the complexity of this undertaking. As the process moves
    forward, it will be important that detailed information be made available
    to all investors at the earliest opportunity.

    A fair and successful restructuring of the non-bank ABCP is important for
    Canada's capital markets, and I encourage all parties to continue their
    efforts to arrive at a satisfactory and timely solution."




For further information:

For further information: media may contact: Chisholm Pothier, Press
Secretary, Office of the Minister of Finance, (613) 996-7861; David Gamble,
Media Relations, Department of Finance, (613) 996-8080; www.fin.gc.ca; If you
would like to receive automatic e-mail notification of all news releases,
please visit the Department of Finance website at
www.fin.gc.ca/scripts/register_e.asp


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