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TALF Subscriptions

The Federal Reserve is moving aggressively to restart lending to consumers. A key program in that effort starts tomorrow, it's call the Term Asset-Backed Lending Facility. NBR's Darren Gersh explains why it's getting a cautiously optimistic reception from investors and lenders.



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Related NBR Stories & Links

• 03-16-09: Federal Reserve Chairman Ben Bernanke Offers Optimism
• 02-11-09: As Bankers Feel The Heat on the Hill Credit Markets Start To Thaw
• 01-29-09: Will The Government Take Away The Toxicity On Bank Books?
• 01-28-09: The Fed Shifts From Interest Rates To Treasuries
• 11-25-08: The Fed Buys Debt To Boost Credit

External Links/Articles*

• Federal Reserve
  The Federal Reserve is the central bank of the U.S. This links to the November 25, 2008 press release by the Federal Reserve Board, announcing the creation of the "Term Asset-Backed Securities Loan Facility (TALF), a facility that will help market participants meet the credit needs of households and small businesses by supporting the issuance of asset-backed securities (ABS) collateralized by student loans, auto loans, credit card loans, and loans guaranteed by the Small Business Administration (SBA)."
• Federal Reserve Bank of New York
  This links to a March 13, 2009 press release titled New York Fed Extends First TALF Subscription, announcing that it will extend the window for the first subscriptions for funding from the Term Asset-Backed Securities Loan Facility (TALF) by two days.
• Fitch Ratings
  Fitch Ratings "is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions." Managing Director, Kevin Duignan is interviewed in Darren Gersh's report.
• Term Asset-Backed Securities Loan Facility- TALF (PDF)
  This links to the Federal Reserve's TALF terms and conditions document.
• International Strategy & Investment (ISI)
  ISI Group is a "broker-dealer specializing in the following research areas: economics, policy, technical analysis, tech strategy, portfolio strategy, quantitative research, integrated oil, accounting and tax policy, China, machinery, banks, company surveys and client projects." ISI Groups' Political Economist, Tom Gallagher is also interviewed in Gersh's report.