Term Asset-Backed Securities Loan Facility
E560324
The Term Asset-Backed Securities Loan Facility (TALF) was a crisis-era Federal Reserve program that supported consumer and business credit markets by lending to investors in highly rated asset-backed securities.
Observed surface forms (1)
| Surface form | Occurrences |
|---|---|
| Term Asset-Backed Securities Loan Facility (TALF) | 1 |
Statements (46)
| Predicate | Object |
|---|---|
| instanceOf |
Federal Reserve credit facility
ⓘ
lending program ⓘ |
| abbreviation | TALF NERFINISHED ⓘ |
| administeredBy |
Federal Reserve
NERFINISHED
ⓘ
Federal Reserve Bank of New York NERFINISHED ⓘ |
| backstopRole | liquidity backstop for ABS markets ⓘ |
| beneficiarySector |
auto loans
ⓘ
commercial mortgage-backed securities ⓘ consumer loans ⓘ credit card receivables ⓘ equipment loans and leases ⓘ floorplan loans ⓘ small business loans ⓘ student loans ⓘ |
| benefit |
improved liquidity in ABS markets
ⓘ
support for new issuance of ABS ⓘ |
| collateralRequirement | AAA-rated or equivalent asset-backed securities ⓘ |
| collateralType | asset-backed securities ⓘ |
| createdInResponseTo | financial crisis ⓘ |
| eligibilityCriterion | investment-grade asset-backed securities ⓘ |
| goal |
to lower borrowing costs for consumers and businesses
ⓘ
to restore functioning of securitization markets ⓘ |
| jurisdiction |
United States of America
ⓘ
surface form:
United States
|
| legalBasis | Section 13(3) of the Federal Reserve Act ⓘ |
| loanCurrency | U.S. dollars ⓘ |
| loanStructure | term loans ⓘ |
| mechanism | lending to investors secured by asset-backed securities ⓘ |
| policyCategory |
credit easing program
ⓘ
unconventional monetary policy tool ⓘ |
| programDesign | loans secured by eligible ABS as collateral ⓘ |
| programNature | temporary emergency lending facility ⓘ |
| programType | crisis-era program ⓘ |
| providedTo | investors in asset-backed securities ⓘ |
| purpose |
to support the flow of credit to businesses
ⓘ
to support the flow of credit to consumers ⓘ to support the issuance of asset-backed securities ⓘ |
| riskControl |
conservative collateral eligibility standards
ⓘ
haircuts on collateral ⓘ |
| riskMitigation | non-recourse loans to investors ⓘ |
| sponsor | Board of Governors of the Federal Reserve System NERFINISHED ⓘ |
| supportedInstrumentRating | highly rated asset-backed securities ⓘ |
| supportedInstrumentType | asset-backed securities ⓘ |
| supportedMarket |
business credit markets
ⓘ
consumer credit markets ⓘ |
| targetParticipant |
U.S. companies that own eligible ABS
ⓘ
U.S. investment funds that own eligible ABS ⓘ |
Referenced by (2)
Full triples — surface form annotated when it differs from this entity's canonical label.
Federal Reserve emergency lending programs
→
component
→
Term Asset-Backed Securities Loan Facility
ⓘ
Timothy Geithner as United States Secretary of the Treasury
→
oversawProgram
→
Term Asset-Backed Securities Loan Facility
ⓘ
subject surface form:
Timothy Geithner
this entity surface form:
Term Asset-Backed Securities Loan Facility (TALF)