Term Asset-Backed Securities Loan Facility
Fed Program to Spur Lending
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A program under the Emergency Economic Stabilization Act
$4.3 billion promised
$0 actually invested, loaned, or spent
More info from www.federalreserve.gov
The program, a collaboration between the Fed and the Treasury, was designed to provide up to $200 billion in Fed loans to owners of top-rated asset-backed securities. The idea was to boost the secondary market for a number of different assets classes, such as credit card, auto, student and Small Business Administration loans as well as commercial mortgages. The program is limited to newly issued, top-rated securities, though the Treasury did at one point say that the Fed planned to expand the TALF to include “legacy” (read: toxic) securities.
In early 2009, Treasury Secretary Geithner said he might devote up to $100 billion of TARP funds to TALF, which he said would lead to up to $1 trillion in Fed loans. In early April, Treasury officials came down further to $30 billion.
Finally, in July of 2010, the Treasury reduced the amount for the final time to $4.3 billion.
Documents from the Federal Reserve:
TALF Terms and Conditions
TALF FAQs
More info from www.federalreserve.gov
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The following list shows the 0 recipients of Term Asset-Backed Securities Loan Facility.
Data is not yet available for this program's specific recipients.