What time will an issuer receive payments for commercial paper sold to the SPV?
Consistent with market convention, commercial paper purchased by the SPV will settle in accordance with the standard settlement times established by the Depository Trust Company (DTC). An issuer’s issuing and paying agent determines the time that an issuer receives the proceeds from net new issuance.
Related Questions
- How should an issuer with multiple commercial paper programs determine the maximum amount of commercial paper that the SPV may own at any time?
- How will the New York Fed determine the maximum amount of a single issuer’s commercial paper that the SPV may own at one time?
- What time will an issuer receive payments for commercial paper sold to the SPV?
