The overnight market is now well on its way back to normal operations in Canada, and I'll talk about that in a few minutes when I discuss the role of the central bank. However, problems in other areas of the money markets have not yet been resolved.
In terms of the market for asset-backed commercial paper (ABCP), about two-thirds of Canada's roughly $ billion ABCP market is composed of conduits sponsored by our major domestic banks. These banks have agreed to provide global-style liquidity support to their conduits, and investors have every reason to be confident that our banks have the capacity to continue to support their conduits as necessary.