So why didn't ABCP investors -- at least the large institutional investors -- have a better grasp of the uncertain nature of market disruption triggers as defined under Canadian-style liquidity? Proba...
[T]he ABCP market was built on a fatal flaw: a significant mismatch between the duration of the underlying assets (long-term) and the duration of the paper itself (short-term). While this structure is...
(n.) The state or quality of being liquid.
