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Last updated on April 23, 2014 at 17:36 EDT

Latest Term Asset-Backed Securities Loan Facility Stories

2010-04-01 06:30:00

DALLAS, April 1 /PRNewswire-FirstCall/ -- Alliance Data Systems Corporation (NYSE: ADS), a leading provider of loyalty and marketing solutions derived from transaction-rich data, today announced that World Financial Network Credit Card Master Note Trust has issued $100 million of fixed-rate term asset-backed securities. The asset-backed securities were issued as part of the securitization program for Alliance Data's private label credit card banking subsidiary, World Financial Network...

2009-12-15 05:00:00

COLUMBUS, Ohio, Dec. 15 /PRNewswire-FirstCall/ -- The Huntington National Bank's Auto Finance & Dealer Services group has been awarded a 2009 Auto Finance Excellence Award by Auto Finance News. The award is presented annually to companies that have achieved notable success or contributed greatly to the auto finance industry. Huntington's Auto Finance & Dealer Services group was recognized for engineering the first auto asset-backed securitization deals, following the downturn in...

2009-09-29 23:08:58

The program designed last October to remove frozen loans from the books of U.S. banks, appears poised to begin buying toxic assets, officials said. In most of the 11 months since the Troubled Asset Relief Program was constructed by former Treasury Secretary Henry Paulson and pushed through Congress by a lame-duck administration, the $700 billion program has seemed to be everywhere at once, propping up banks, auto makers and insurance companies. It wasn't an illusion. In July, SIGTARP, the...

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2009-09-29 11:00:00

The $700 billion Troubled Asset Relief Program assembled in Washington a year ago is going to finally focus on toxic assets, administration officials said. Although named the Troubled Asset Relief Program -- or TARP -- the program has done a lot of things, but buying toxic assets from banks has not yet been one of them. The U.S. Treasury has used the TARP funds to buy preferred bank stock and later, in some cases, convert this to common stock. It has used the funds to prop up automotive...

2009-08-17 14:56:24

The U.S. Treasury and Federal Reserve announced Monday they would extend a consumer lending program for six months. The Term Asset-Backed Securities Loan Facility was set up to purchase securities backed by consumer automobile and credit card loans. A commercial loan facility was also set up to buy loans backed by commercial real estate. In a joint statement, the Treasury and Fed said conditions in financial markets have improved considerably in recent months, but markets for asset-backed...

2009-08-14 06:30:00

DALLAS, Aug. 14 /PRNewswire-FirstCall/ -- Alliance Data Systems Corporation (NYSE: ADS), a leading provider of loyalty and marketing solutions derived from transaction-rich data, today announced that World Financial Network Credit Card Master Note Trust has issued $950,000,000 of fixed-rate term asset-backed securities. The asset-backed securities were issued as part of the securitization program for Alliance Data's private label credit card banking subsidiary, World Financial Network...

2009-08-12 06:36:01

Investors were given two views of the Troubled Asset Relief Program this week, which a U.S. government panel said had sidestepped its primary target. The Congressional oversight panel, led by Harvard Law School professor Elizabeth Warren, said the TARP program had failed to relieve banks of the toxic assets that were plaguing bank ledger sheets. Assembled last fall, when the nation's banks looked ready to fall like dominoes, the Treasury Department -- largely responsible for the plan --...

2009-08-11 09:21:56

The $700 billion Troubled Asset Relief Program has failed in its stated mission of relieving U.S. banks of toxic assets, a congressional panel said. The U.S. banking system has become more stable with billions of dollars of bailout funds invested in banks. But the Treasury Department used the funds to buy bank shares, not the assets targeted by the federal program, the panel monitoring the TARP program said in a report being released Tuesday. The nation's banks continue to hold on their books...

2009-07-22 10:16:58

Small-business financing is still hard to come by, despite a loosening of U.S. Small Business Administration-backed loans, two studies indicated Wednesday. Some 42 percent of small-business owners polled this month said they were not able to get the financing they needed to run their firms, the National Small Business Association said. That's up from 33 percent in December, the association said. Despite several economic stimulus packages and lots of talk, only 3 percent of small businesses...

2009-07-14 12:32:00

FARMINGTON HILLS, Mich., July 14 /PRNewswire/ -- Chrysler Financial announced today it has repaid in full the $1.5 billion of Troubled Asset Relief Program (TARP) government loans. The Company originally secured TARP funding in January of this year to support Chrysler LLC in its efforts to remain viable. Chrysler Financial used the TARP loans to fund more than 85,000 consumer loans to support the sale of Chrysler, Jeep(R) and Dodge vehicles for Chrysler LLC. The TARP funds were kept in...