Clarification by the Caisse de dépôt et placement du Québec regarding an article by Francis Vailles of La Presse

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The Caisse de dépôt et placement du Québec would like to clarify an article published today in La Presse under the byline of Francis Vailles with a heading that translates as "Commercial paper losses of up to $5 billion." The article states two things: first, that the Caisse and National Bank have formed a committee to estimate the value of their holdings of asset-backed commercial paper (ABCP) and, second, that that committee has concluded that such assets will most likely have to be written down by almost 15%. Both statements are false. Such a committee does not exist and never has existed and therefore could not have arrived at such a conclusion. The author of the article did not try to contact the Caisse to confirm the accuracy of the information he published. false false false