TORONTO, Aug. 16 /CNW/ - Scotiabank today confirmed that it is supportive
of initiatives to provide stability to the Canadian third-party structured
finance asset-backed commercial paper (non-bank) market. The Bank is also
committed to continuing to work with market participants as this situation
develops to ensure that appropriate actions are taken in this regard. The Bank
does not hold a significant amount of this paper.
    Scotiabank also reinforced its ongoing commitment to continue to provide
full liquidity support for all Scotiabank-sponsored asset-backed commercial
paper programs, including King Street Funding Trust and Bay Street Funding
Trust.