U.S. commercial paper market shrinks for fourth straight week

Thu Sep 27, 2012 12:01pm EDT
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NEW YORK (Reuters) - The amount of seasonally adjusted U.S. commercial paper contracted for a fourth consecutive week in the week ended September 26, Federal Reserve data showed on Thursday.

U.S. seasonally adjusted commercial paper outstanding fell $18.1 billion to $990.1 billion in the latest week.

Non-seasonally adjusted commercial paper outstanding - which some analysts consider is a more reliable reading than the seasonally adjusted one since it has been distorted by the financial crisis - declined $14.8 billion to $970.2 billion.

U.S. non-seasonally adjusted foreign bank commercial paper outstanding, however, rose $4.9 billion to $129.8 billion.

(Reporting by Richard Leong)