Banks report rise in demand for CP

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Although market and economic factors have decimated US non-financial commercial paper (CP) levels, some analysts believe a turnaround is already in progress, citing an increased need for the funding resource at the corporate level.

Non-financial CP peaked in November 2000, when issuance reached $351.3 billion, according to Federal Reserve data. As of December 2003, that figure had fallen by 70% to just $105 billion. Total CP levels also peaked in November 2000 at $1.627 trillion, falling to