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Term Asset-Backed Securities Loan Facility (TALF)

RECENT NEWS
Would Matt Taibbi Have Been Less Angry About John Mack’s Wife’s TALF Fund If The Former Morgan Stanley CEO Waxed His Eyebrows?
Wall Street Sector Selector  Apr 12  Comment 
A passage from his latest screed implies as much. The Macks make for an interesting couple. John, a Lebanese-American nicknamed “Mack the Knife” for his legendary passion for firing people, has one of the most recognizable faces on Wall Str...
The Real Housewives Of Wall Street: Christy Mack And Susan Karches Took TALF Loans (MS)
Clusterstock  Apr 12  Comment 
Christy Mack, John Mack's wife, and Susan Karches, the widow of Morgan Stanley's former investment-banking division president, Peter Karches, took $220 million in a TALF loan, according to an upcoming Rolling Stone article. The New York Daily...
Fed’s TALF Ends With $4.1 Billion of Loan Requests (Update1)
BusinessWeek  Mar 4  Comment 
The Federal Reserve received $4.1 billion in loan requests, the most in six months, from investors for the final round for its program that unlocked the market for asset-backed securities.
[$] The Verdict on TALF: It Worked
Wall Street Journal  Mar 4  Comment 
It took a year, but the Term Asset-Backed Securities Loan Facility, a program designed to stabilize the market for consumer loan-backed securities, has done what it was supposed to: rekindle demand and get credit flowing again.
Fed's Dudley Says TALF Could Generate Profits
Wall Street Journal  Mar 4  Comment 
The program to resuscitate the consumer loan-backed market has been a success and could generate profits for the Federal Reserve, according to one of the chief architects of the facility.
Concerns over what happens after Talf
Financial Times  Jan 21  Comment 
The US government’s programme of propping up the securitisation market is expected to end in March, creating concerns as to whether the market for securities backed by consumer loans is ready to stand on its own
[$] Weak Issuers Could Face Trouble With End of TALF
Wall Street Journal  Jan 18  Comment 
Some parts of the consumer-loan-backed market could be at more of a disadvantage than others when the Federal Reserve in March winds down a program it has used to prop up the market.
Ford Increases Size of Sale of TALF Securities to $1.25 Billion
BusinessWeek  Jan 6  Comment 
Ford Motor Co.’s finance unit boosted the size of its planned sale of bonds backed by payments from auto dealers to $1.25 billion, according to a person familiar with the offering.
[$] Issuers Begin to Edge Away From TALF to Sell Bonds
Wall Street Journal  Nov 24  Comment 
Banks and other issuers have sold more asset-backed bonds this month without the help of subsidized loans from the Federal Reserve program than they have with the program.




more ▼WIKI ANALYSIS
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An emergency lending program. The Term Asset-Backed Securities Loan Facility targets triple-A rated credit card, small business, student and auto loans. Starting March 17, the Fed is offering loans to large investors to buy newly issued ABS. On a specific day each month, borrowers will be able to request one or more three-year TALF loans. Having the Fed as the backstop removes some of the risk for buyers who invest in these securities and may attract new hedge fund investors.

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