The Globe & Mail reports that Canada's federal government workers’ retirement fund has booked CAD920 million ($918 million) of losses on holdings of asset-backed commercial paper and CDOs.

The Public Sector Pension Investment Board is stuck with CAD2 billion of frozen ABCP that had to be written down by $450 million, according to the article, citing PSP Investment’s annual report. The fund’s CDO holdings of CAD1.4 billion were written down by CAD470 million.