Federal Reserve Details of ABS Purchase Facility, Lending to Begin in February
January 9, 2009
The Federal Reserve Board is gearing up to start using its new Term Asset-Backed Securities Loan Facility next month as it attempts to lubricate the dried-up ABS market. Under TALF, the Federal Reserve Bank of New York will provide $200 billion in loans in maturities from one to three years. The loans will be fully secured by investment-grade securities backed by auto...