* Student loan ABS issuance continued its volume decline since 2005 and was relatively dependent on direct TALF
We study how this role was disrupted during the crisis, and we argue that TALF
successfully helped reestablish the ABS markets and the credit supply.
So, this $2 trillion promise of potentially curing toxic assets became a $30 billion PPIP program, and a TALF
program that dealt with maybe $12 billion of legacy commercial mortgage-backed securities [CMBS]--nothing of residential mortgage-backed securities.
, the company had sold a USD1bn credit card loan-backed bond at 135 basis points over the one month London interbank offered rate in June.
In March, TALF
's ceiling was raised to $1 trillion, and the program was revised to include not just consumer loans but also business loans and commercial mortgages.
Loan Facility (TALF
) in response to problems in the market for
The bond is scheduled to be priced later this week and is not eligible for funding under the Federal Reserve's Term Asset-Backed Securities Loan Facility, or TALF
First $400M TALF
CMBS to be sold by Developers Diversified, as the group gets new top exec [Fox Business], [Reuters]
expansion of Term Asset-Backed Securities Loan Facility (TALF
), Jul-Aug 2009: 20
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.
The Treasury Department recently made commercial mortgage-backed securities eligible collateral for the Term Asset-Backed Securities Loan Facility (TALF
Sure, in response to the financial crisis, the administration has offered various versions of the TARP, the TALF
, and the PPIP, but all are simply short-term initiatives under existing institutions.