Canada banks not at ABCP collateral criteria-BoC

OTTAWA, May 1 (Reuters) - Bank of Canada Governor Mark Carney said on Thursday that Canadian banks have not yet met the central bank's criteria for taking asset-backed commercial paper as collateral.

"We have the program in place and the banks continue to work on it," Carney told the Senate banking committee. "We're continuing to meet with the banks. My view is it will take some time for them to fully get there, but at the end of it we'll have an asset we're comfortable taking." (Reporting by Frank Pingue; Editing by Peter Galloway)