Term Asset-Backed Securities Loan Facility
| The Federal Reserve created the Term Asset-Backed Securities Loan Facility (TALF), to help market participants meet the credit needs of households and small businesses by supporting the issuance of asset-backed securities (ABS) collateralized by auto loans, student loans, credit card loans, equipment loans, floorplan loans, insurance premium finance loans, loans guaranteed by the Small Business Administration, residential mortgage servicing advances or commercial mortgage loans. The facility was closed for new loan extensions against newly issued commercial mortgage-backed securities (CMBS) on June 30, 2010, and for new loan extensions against all other types of collateral on March 31, 2010.
The TALF began operation in March 2009 and was closed for new loan extensions on June 30, 2010.
|Reflections on the TALF and the Federal Reserve's Role as Liquidity Provider
Remarks by Brian P. Sack at the New York Association for Business Economics, New York City
June 9, 2010
|Federal Reserve Board announces agreement with
Treasury Department regarding credit protection
for the Term Asset-Backed Securities Loan Facility
January 15, 2013
|Federal Reserve Board and Treasury Department agree that Term Asset-Backed Securities Loan Facility requires less credit protection as it winds down
June 28, 2012
|New York Fed issues revised TALF documents:
Terms and Conditions
July 21, 2010