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On December 23, 2007, the Pan-Canadian Investors Committee for Third-Party Structured Asset-Backed Commercial Paper announced that an ‘agreement in principle’ had been reached for a restructuring of $33 billion of approximately $35 billion of Canadian ABCP. The repayment of this debt had been frozen pursuant to a standstill created by the ‘Montreal Accord’ as of August 16, 2007.

On April 11, 2008, the Alberta Securities Commission (ASC) issued Blanket Order 91-503, "Over-The-Counter Derivatives Transactions and Commodity Contracts". BO 91-503 replaced the previous Blanket Order 91-502 with effect from March 31, 2008.