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I found one glaring error in the intro which I corrected (CP rates lower than bonds, not higher) and was the reason for the "Needs Expert" flag (since I am not an expert in this field). Can't some MBA or business student work on this and get credit? Andromedahpg ( talk) 14:49, 12 May 2015 (UTC)
$1.788T = $839B + $846B ? off by $103B also, in the breakdown of "this", $797B + $153B isn't equal to any of these numbers. —Preceding unsigned comment added by 71.32.46.111 ( talk) 02:27, 9 October 2008 (UTC)
The first formula in the commercial paper yields section doesn't make any sense unless Pf is assumed to always be 1, in which case it should be written as 1, and the formulation is still unhelpful because it is a simplification that doesn't show where the equation comes from. I believe it should be iCP(dy) = [(Pf - P0)/Pf]•360/h
The second formula makes even less sense - P0/P0 will always be one regardless of the value, which is wrong. I believe it should be the same as the first formula, except replacing "360" with "365".
I've not actually studied commercial paper, which is why I was reading this page, just enough math to be able to derive formulas for interest rates on bonds, and to know that the ones here are wrong, so if someone who actually knows what they're doing could edit the article, that would be great. Further, without an explanation of the variables in the text of the article, these formulas will be completely unhelpful to a reader from the general public, so that should be added as well. 140.180.243.83 ( talk) 08:24, 12 April 2015 (UTC)
When a firm that issues stocks and bonds goes bankrupt, the liquidated assets can be used to pay its debts. Normally, the bond holders are paid first, then the preferred stock holders, then the common stock holders. In what place in this order are the commercial paper holders paid? fx6893 11:27, 8 October 2008
This phrase seems non-sequitir. Please confirm and rephrase/delete as appropriate. "While these fees may seem like pure profit for banks, if the company ever actually needs to use the line of credit it would likely be in serious trouble and have difficulty repaying its liabilities."
A lot of this article describes corporate CP which was traditionally what was meant by "CP" but more of the CP issued today is asset-backed, issued out of special-purpose vehicles backed by various financial assets, such as receivables, longer-term investment securities, etc. I don't know exactly how to bring this article more current. McTavidge 21:58, 2 April 2007 (UTC)
Commercial Paper is largely an obsolete form of financing. As you note above most corporate issues are asset-backed securities and instruments. Commercial paper has been out of fashion since at least the late 1990's. It was big for most of the 20th century, but tailed off as financial instruments required complex leveraging... Stevenmitchell 08:36, 4 April 2007 (UTC)
Agreed -- it's becoming obsolete as a way of corporations financing their operations, but as an asset class it's huge, it's just mostly asset-backed. McTavidge 03:34, 6 April 2007 (UTC)
I am reading this article late in 2008. It quotes the amount of commercial paper in 1990. That is 18 years ago!!!! What is with that?!?!?
Someone with knowledge about what commercial paper is needs to update this. Nick Beeson ( talk) 16:19, 7 October 2008 (UTC)
Agree that this article is out of date as I am reading it in May 2015 Andromedahpg ( talk) 14:49, 12 May 2015 (UTC)
It would be good to have a section about how much or little commercial papers or their equivalents are used in other markets. With wikis in other languages as almost only source, I conclude the following:
I do not read any Indonesian or Korean, so I cannot comment on those versions. Mlewan ( talk) 15:34, 13 October 2008 (UTC)
Basic.atari( talk) 02:30, 10 August 2011 (UTC)
— Preceding unsigned comment added by Basic.atari ( talk • contribs) 15:01, 17 August 2011 (UTC)
Commercial paper has several different flavors and competes against overdraft (lines of credit). It has had a checkered history, diminishing in use (discounting of bills of exchange) in England in mid-20th c (see Radcliffe Report) and then reviving later. The analytic problem is that commercial paper and other types of markets (such as repo markets) are broadly speaking very similar. The "hair cut" in repo transaction is very similar to the "discount rate" applied to commercial paper. Some commercial paper is asset backed and some not. gn842 — Preceding
unsigned comment added by
Gn842 (
talk •
contribs)
21:11, 29 January 2013 (UTC)
The first sentence in the Overview section is not a complete sentence and the intent of the author is unclear. The sentence in question is the following.
Thisisdavid ( talk) 18:04, 20 December 2012 (UTC)
Hi There. This is a major international market that is not presently covered in the article, and it is a serious omission. Could we consider doing something about this? I did some digging and found the following public data page http://www.cmdportal.com/Public/Data.aspx
johnjohn — Preceding undated comment added 10:25, 11 July 2014 (UTC)
Ronz This is a fairly reputable source for international money market and fixed income data.
Please see the following:
-- Johnjohn mac ( talk) 15:43, 16 July 2014 (UTC)
Guys - I'd like to go ahead and cite these figures for Euro Commercial Paper. Please let me know know if there is any feedback. Ronz, feedback?
Ronz As far as I know, CMD has the most complete statistics on the Euro Commercial Paper market. Other pages that I've looked at examine only certain segments. In terms of notability, I also managed to dig up the following reference:
http://www.bis.org/publ/bcbs165/ecpc.pdf
This is a letter written to the BIS (Bank for International Settlements) by the ICMA ECP Committe (the largest umbrella body of ECP dealers and market makers). Within this document you will find a reference to "Capital Market Daily (CMD)" - mentioning them as a CP data provider. This really should be enough....-- Johnjohn mac ( talk) 08:35, 18 July 2014 (UTC)
"CMD can access and search and sort data real time on a trade-by-trade basis" -- Johnjohn mac ( talk) 08:37, 18 July 2014 (UTC)
Ronz I understand your view on this - however there appears to be no similar data aggregation process for ECP outside private market data providers. The ECP market spans many different geographies and currencies, so there is a problem in trying to find similar "official" organisations as is the case with national markets. It is for this reason that I'm suggesting CMD as a source - as their public data page is fairly comprehensive and they have also been cited by the ICMA for their work. We thus have the data from a reputable source - enough to really build on the very limited scope of this current article. It would be a real shame not to go ahead -- Johnjohn mac ( talk) 21:04, 18 July 2014 (UTC)
btw...there is a wikipedia page for the ICMA in case you want to look at this further /info/en/?search=ICMA . -- Johnjohn mac ( talk) 21:08, 18 July 2014 (UTC)
Prior content in this article duplicated one or more previously published sources. Copied or closely paraphrased material has been rewritten or removed and must not be restored, unless it is duly released under a compatible license. (For more information, please see "using copyrighted works from others" if you are not the copyright holder of this material, or "donating copyrighted materials" if you are.)
For legal reasons, we cannot accept copyrighted text or images borrowed from other web sites or published material; such additions will be deleted. Contributors may use copyrighted publications as a source of information, and, if allowed under fair use, may copy sentences and phrases, provided they are included in quotation marks and referenced properly. The material may also be rewritten, providing it does not infringe on the copyright of the original or plagiarize from that source. Therefore, such paraphrased portions must provide their source. Please see our guideline on non-free text for how to properly implement limited quotations of copyrighted text. Wikipedia takes copyright violations very seriously, and persistent violators will be blocked from editing. While we appreciate contributions, we must require all contributors to understand and comply with these policies. Thank you. Diannaa ( talk) 22:12, 29 November 2015 (UTC)
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To-do list for Commercial paper:
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I found one glaring error in the intro which I corrected (CP rates lower than bonds, not higher) and was the reason for the "Needs Expert" flag (since I am not an expert in this field). Can't some MBA or business student work on this and get credit? Andromedahpg ( talk) 14:49, 12 May 2015 (UTC)
$1.788T = $839B + $846B ? off by $103B also, in the breakdown of "this", $797B + $153B isn't equal to any of these numbers. —Preceding unsigned comment added by 71.32.46.111 ( talk) 02:27, 9 October 2008 (UTC)
The first formula in the commercial paper yields section doesn't make any sense unless Pf is assumed to always be 1, in which case it should be written as 1, and the formulation is still unhelpful because it is a simplification that doesn't show where the equation comes from. I believe it should be iCP(dy) = [(Pf - P0)/Pf]•360/h
The second formula makes even less sense - P0/P0 will always be one regardless of the value, which is wrong. I believe it should be the same as the first formula, except replacing "360" with "365".
I've not actually studied commercial paper, which is why I was reading this page, just enough math to be able to derive formulas for interest rates on bonds, and to know that the ones here are wrong, so if someone who actually knows what they're doing could edit the article, that would be great. Further, without an explanation of the variables in the text of the article, these formulas will be completely unhelpful to a reader from the general public, so that should be added as well. 140.180.243.83 ( talk) 08:24, 12 April 2015 (UTC)
When a firm that issues stocks and bonds goes bankrupt, the liquidated assets can be used to pay its debts. Normally, the bond holders are paid first, then the preferred stock holders, then the common stock holders. In what place in this order are the commercial paper holders paid? fx6893 11:27, 8 October 2008
This phrase seems non-sequitir. Please confirm and rephrase/delete as appropriate. "While these fees may seem like pure profit for banks, if the company ever actually needs to use the line of credit it would likely be in serious trouble and have difficulty repaying its liabilities."
A lot of this article describes corporate CP which was traditionally what was meant by "CP" but more of the CP issued today is asset-backed, issued out of special-purpose vehicles backed by various financial assets, such as receivables, longer-term investment securities, etc. I don't know exactly how to bring this article more current. McTavidge 21:58, 2 April 2007 (UTC)
Commercial Paper is largely an obsolete form of financing. As you note above most corporate issues are asset-backed securities and instruments. Commercial paper has been out of fashion since at least the late 1990's. It was big for most of the 20th century, but tailed off as financial instruments required complex leveraging... Stevenmitchell 08:36, 4 April 2007 (UTC)
Agreed -- it's becoming obsolete as a way of corporations financing their operations, but as an asset class it's huge, it's just mostly asset-backed. McTavidge 03:34, 6 April 2007 (UTC)
I am reading this article late in 2008. It quotes the amount of commercial paper in 1990. That is 18 years ago!!!! What is with that?!?!?
Someone with knowledge about what commercial paper is needs to update this. Nick Beeson ( talk) 16:19, 7 October 2008 (UTC)
Agree that this article is out of date as I am reading it in May 2015 Andromedahpg ( talk) 14:49, 12 May 2015 (UTC)
It would be good to have a section about how much or little commercial papers or their equivalents are used in other markets. With wikis in other languages as almost only source, I conclude the following:
I do not read any Indonesian or Korean, so I cannot comment on those versions. Mlewan ( talk) 15:34, 13 October 2008 (UTC)
Basic.atari( talk) 02:30, 10 August 2011 (UTC)
— Preceding unsigned comment added by Basic.atari ( talk • contribs) 15:01, 17 August 2011 (UTC)
Commercial paper has several different flavors and competes against overdraft (lines of credit). It has had a checkered history, diminishing in use (discounting of bills of exchange) in England in mid-20th c (see Radcliffe Report) and then reviving later. The analytic problem is that commercial paper and other types of markets (such as repo markets) are broadly speaking very similar. The "hair cut" in repo transaction is very similar to the "discount rate" applied to commercial paper. Some commercial paper is asset backed and some not. gn842 — Preceding
unsigned comment added by
Gn842 (
talk •
contribs)
21:11, 29 January 2013 (UTC)
The first sentence in the Overview section is not a complete sentence and the intent of the author is unclear. The sentence in question is the following.
Thisisdavid ( talk) 18:04, 20 December 2012 (UTC)
Hi There. This is a major international market that is not presently covered in the article, and it is a serious omission. Could we consider doing something about this? I did some digging and found the following public data page http://www.cmdportal.com/Public/Data.aspx
johnjohn — Preceding undated comment added 10:25, 11 July 2014 (UTC)
Ronz This is a fairly reputable source for international money market and fixed income data.
Please see the following:
-- Johnjohn mac ( talk) 15:43, 16 July 2014 (UTC)
Guys - I'd like to go ahead and cite these figures for Euro Commercial Paper. Please let me know know if there is any feedback. Ronz, feedback?
Ronz As far as I know, CMD has the most complete statistics on the Euro Commercial Paper market. Other pages that I've looked at examine only certain segments. In terms of notability, I also managed to dig up the following reference:
http://www.bis.org/publ/bcbs165/ecpc.pdf
This is a letter written to the BIS (Bank for International Settlements) by the ICMA ECP Committe (the largest umbrella body of ECP dealers and market makers). Within this document you will find a reference to "Capital Market Daily (CMD)" - mentioning them as a CP data provider. This really should be enough....-- Johnjohn mac ( talk) 08:35, 18 July 2014 (UTC)
"CMD can access and search and sort data real time on a trade-by-trade basis" -- Johnjohn mac ( talk) 08:37, 18 July 2014 (UTC)
Ronz I understand your view on this - however there appears to be no similar data aggregation process for ECP outside private market data providers. The ECP market spans many different geographies and currencies, so there is a problem in trying to find similar "official" organisations as is the case with national markets. It is for this reason that I'm suggesting CMD as a source - as their public data page is fairly comprehensive and they have also been cited by the ICMA for their work. We thus have the data from a reputable source - enough to really build on the very limited scope of this current article. It would be a real shame not to go ahead -- Johnjohn mac ( talk) 21:04, 18 July 2014 (UTC)
btw...there is a wikipedia page for the ICMA in case you want to look at this further /info/en/?search=ICMA . -- Johnjohn mac ( talk) 21:08, 18 July 2014 (UTC)
Prior content in this article duplicated one or more previously published sources. Copied or closely paraphrased material has been rewritten or removed and must not be restored, unless it is duly released under a compatible license. (For more information, please see "using copyrighted works from others" if you are not the copyright holder of this material, or "donating copyrighted materials" if you are.)
For legal reasons, we cannot accept copyrighted text or images borrowed from other web sites or published material; such additions will be deleted. Contributors may use copyrighted publications as a source of information, and, if allowed under fair use, may copy sentences and phrases, provided they are included in quotation marks and referenced properly. The material may also be rewritten, providing it does not infringe on the copyright of the original or plagiarize from that source. Therefore, such paraphrased portions must provide their source. Please see our guideline on non-free text for how to properly implement limited quotations of copyrighted text. Wikipedia takes copyright violations very seriously, and persistent violators will be blocked from editing. While we appreciate contributions, we must require all contributors to understand and comply with these policies. Thank you. Diannaa ( talk) 22:12, 29 November 2015 (UTC)
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This article was the subject of a Wiki Education Foundation-supported course assignment, between 11 January 2023 and 5 May 2023. Further details are available on the course page. Student editor(s): Shiningstar8 ( article contribs).
— Assignment last updated by Leslietineoo ( talk) 03:36, 25 April 2023 (UTC)