X-notes bear a floating rate of interest from the time of issuance. Their initial expected maturity date falls nine months from issuance for U.S. commercial paper and 12 months for European commercial paper, according to Moody's Investors Service, which affirmed the program's P-1 rating. The bank also amended the terms of Check Point Charlie's credit enhancement, to make the portfolio-specific credit enhancement dynamic enough to reflect changes in its assets' credit quality over time. Credit enhancement will also be calculated so that senior loans from the program will carry an Aa2' rating from Moody's and AA' from Fitch Ratings before the conduit issues any commercial paper. Furthermore, the bank will base its liquidity support for outstanding CP on rating forecasts from Moody's' CDOROM and Fitch's Vector CDO model, tools that help users model credit risk, and which the rating agencies typically use to assess CDO transactions.