"Of or relating to assets that are identical in quality and are interchangeable. Commodities, options, and securities are fungible assets. For example, an investor's shares of Xerox left in custody at a brokerage firm are freely mixed with other customers' Xerox shares. Likewise, stock options are freely interchangeable among investors, and wheat stored in a grain elevator is not specifically identified as to its ownership."
Related stories:
Bank of Canada Provides Liquidity
Banks and Pension Funds Band together to provide liquidity to ABCP market
Notably, the TSX is down over 4.5% so far today in what I would term panic selling at this point in one of the most volatile days that I can remember. From the year's highs in July, the TSX is down approximately 14%. For comparison purposes, the Canadian Value Index is down approximately 11%.
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