Eligibility
Only "Active" U.S. issuers of commercial paper (including those with a foreign parent), were eligible to sell commercial paper to the SPV. Active was defined as having at least three consecutive months of commercial paper outstanding during the period starting January 1, 2008 through August 31, 2008.
The commercial paper had to be rated at least A-1/P-1/F1 by a major nationally recognized statistical rating organization (NRSRO) and, if rated by multiple major NRSROs, must have been rated at least A-1/P-1/F1 by two or more major NRSROs.
As part of the application process to be eligible for this program issuers had to pay a 10 basis point (0.1%) fee based on their maximum CP balance during the active period mentioned above.
Read more about this topic: Commercial Paper Funding Facility