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Term Asset-Backed Securities Loan Facility |
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Term Asset-Backed Securities Loan Facility A program announced by the Federal Reserve Bank in November 2008 to make loans to firms that would be purchasing high quality asset backed securities such as credit cards, student loans and some Small Business Administration loans. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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While some programs, such as the Term Asset-backed Securities Loan Facility (TALF), are fully operational, others including the Home Affordable Modification Program (HAMP) and the Public-Private Investment Program (PPIP), are still new and face ongoing implementation and operational challenges. The Term Asset-Backed Securities Loan Facility, or TALF, goes to the heart of efforts by the Fed and Obama administration to get credit flowing more normally again, a key ingredient to a lasting economic recovery. At the urging of NAA/NMHC and others, the Federal Reserve announced May 19 that beginning in July, high-quality legacy commercial mortgage-backed securities (CMBS) will be eligible collateral under the Term Asset-Backed Securities Loan Facility (TALF) program. |
Term Asset-Backed Securities Loan Facility |
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