National Bank of Canada to acquire C$2 bln in ABCP
TORONTO Aug 20 (Reuters) - National Bank of Canada (NA.TO) said on Monday it would acquire all asset-back commercial credit held in mutual funds and pooled funds of its subsidiaries, as well as the ABCP held by its retail clients, in line with an agreement reached last week.
The bank said it expects to acquire C$2.0 billion ($1.9 billion) in ABCP including about C$150 million in bank conduits. It said it currently owns less than C$100 million in bank conduits ABCP.
($1=$1.06 Canadian)
((Reporting by Jonathan Spicer, editing by Janet Guttsman; Reuters Messaging: jonathan.spicer.reuters.com@reuters.net. Telephone: +1-416-941-8104)) Keywords: ECONOMY CREDIT/NATIONALBANK
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