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Back from the Brink

Lessons from the Canadian Asset-Backed Commercial Paper Crisis

By (author) Paul Halpern, Caroline Cakebread, Christopher C. Nicholls & Poonam Puri
Categories: Business and Management, Economics, Finance, Business and Management
Publisher: University of Toronto Press
Hardcover : 9781442641921, 264 pages, June 2016
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Table of contents

Introduction

Part 1. The ABCs of a Crisis
Chapter 1: The Day Montreal Stood Still
Chapter 2: Not a Regional Problem
Chapter 3: Enter Purdy Crawford

Part 2. The Art of the Possible: Hammering Out a Deal
Chapter 4: A Proposal Is Born
Chapter 5: Putting It Back Together Again
Chapter 6: Selling the Deal
Chapter 7: The Plan Gets Approved
Chapter 8: It Almost Falls Apart

Part 3. ABCP Afterlife: How Has the Market Performed?
Chapter 9: Whither a Liquid Market
Chapter 10: Regulatory Fallout

Part 4. Conclusions
Chapter 11: Winners and Losers in the ABCP Fiasco
Chapter 12: Lessons Learned

Description

“Back from the Brink is a must read book for all who are interested in understanding how the Canadian financial system functions in a time of stress. ” – David Dodge, Senior Advisor, Bennett Jones LLP and former Governor of the Bank of Canada

Back from the Brink goes behind the scenes of the asset-backed commercial paper (ABCP) crisis to examine how a solution was reached and lessons learned that could prevent or mitigate future crises. The authors describe the roles played by the banks, major investors, rating agencies, and financial regulators in the crisis’s origins and conclusions. Back from the Brink holds important lessons for anyone interested in Canadian law, the future of complex investments, and Canada’s capital markets.