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What M-LEC Will Do for Europe: The conduit may be a short-term savior for SIVs

Liquidity relief in the U.S. may not translate across the Atlantic, and analysts in Europe have begun positing how Europe would benefit from the $75 billion master liquidity enhancement conduit (M-LEC), set up primarily by Bank of America, Citigroup and JPMorgan Chase with the U.S. Treasury Department.

While many...

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