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The federal government, in co-ordination with the Ontario and Quebec governments, agreed Friday to provide a backstop to ensure the $32-billion restructuring of insolvent commercial paper proceeds. But the announcement does not state how much of a backstop it will provide. The committee leading the court-supervised reorganization of asset-backed commercial paper had requested a $9.5-billion standby facility from Ottawa. http://www.financialpost.com/most_popular/story.html?id=1095477
National Post
Latest News 2008