Latest Term Asset-Backed Securities Loan Facility Stories

2009-03-06 10:09:17

Investment funds have reacted positively to a federal plan to entice them to buy revolving debt securities, a leading trade association said. Our members have significant interest, in the program known as the Term Asset-Backed Securities Loan Facility, said Richard Baker, president of the Managed Funds Association, The Washington Post reported Friday. Pension funds have also shown an interest in the program but as many of these are banned from borrowing funds for investments, their future in...

2009-03-03 10:55:16

The Obama administration announced the launch of a program to support purchases of AAA-rated securities, the government called critical to U.S. lending. These markets have historically been a critical component of lending in our financial system, the U.S. Treasury and Federal Reserve said in a joint statement. The Term Asset-Backed Securities Loan Facility will operate as a component of the Consumer and Business Lending Initiative and has the potential to generate up to $1 trillion of lending...

2009-02-17 14:54:00

RESTON, Va., Feb.17 /PRNewswire/ -- The Recreation Vehicle Industry Association expressed optimism today that the federal economic credit and stimulus packages, which include provisions to stimulate lending, and friendly tax treatment for new motorhome purchases, will help promote sales and aid in the industry's economic recovery. Like many of the nation's manufacturing sectors, the RV industry has experienced a sharp decline in sales. As a result, plants have closed and workers have been...

2009-01-25 14:08:00

NADA Used Car Guide Analyst Cites Economic, Industry Performance as Key Factors in 2009 Used Vehicle Outlook NEW ORLEANS, Jan. 25 /PRNewswire-USNewswire/ -- U.S. light-vehicle sales will reach just short of 13 million units in 2009, but enhanced availability of credit for customers and dealerships should strengthen sales over the year, says Paul Taylor, chief economist for the National Automobile Dealers Association. "The economy should improve slightly and in the third quarter of 2009...

2009-01-17 13:55:13

U.S. economic officials say they are exploring creating a government-backed bad bank to take toxic assets off the books of private institutions. The idea, advocated by Federal Deposit Insurance Corp. Chairman Sheila Bair, would revisit an early proposal floated but then dropped by U.S. Treasury Secretary Henry Paulson to buy billions of dollars of near-worthless mortgage-backed derivative securities from private banks, getting them off their books and luring private capital back into the...

2008-12-22 13:27:00

WASHINGTON, Dec. 22 /PRNewswire-USNewswire/ -- Following President Bush's announcement Friday to provide $17.4 billion in bridge loans to General Motors and Chrysler, the Federal Reserve Board, in a related action, addressed a key request from the National Automobile Dealers Association by including floorplan securitizations in a new $200 billion credit facility the Federal Reserve is establishing. The Federal Reserve on Friday clarified the eligibility requirements under the new Term...

2008-11-25 11:28:58

The U.S. Federal Reserve Board said Tuesday it would create a new program to help investors purchase credit card, student, and auto-loan backed securities. Under the Term Asset-Backed Securities Loan Facility, or TALF, the Federal Reserve Bank of New York will lend up to $200 billion to investors. The U.S. Treasury will also contribute $20 billion, using funds from the Troubled Asset Relief Program, the Fed said in a statement. The program is designed to ease credit for consumers. In...

Word of the Day
  • The offense of persistently instigating lawsuits, typically groundless ones.
  • An unlawful breach of duty on the part of a ship's master or crew resulting in injury to the ship's owner.
  • Sale or purchase of positions in church or state.
This word ultimately comes from the Old French word 'barater,' to cheat.