TORONTO, Aug. 16 /CNW/ - RBC welcomes the initiative announced this
morning on a proposed solution to the liquidity problem faced by the Canadian
non-bank administered asset-backed commercial paper market. RBC will support
actions to achieve an orderly resolution over the work out period.
As we have previously stated, RBC does not have significant exposure to
RBC continues to provide active secondary support for its own
RBC-administered asset-backed commercial paper conduits programs, which have
not experienced liquidity issues. None of RBC's Canadian conduits holds any
structured finance assets or issues extendible asset-backed commercial paper.
All of RBC's programs have fully committed liquidity facilities and do not
require a market disruption to occur for the liquidity to be available. In
addition, all of RBC's programs benefit from a program-wide credit enhancement
facility provided exclusively by RBC.
For further information:
For further information: Katherine Gay, (416) 974-6286; Beja Rodeck,