The Federal Reserve Bank of New York announced that borrowers requested approximately $6.9 billion of Term Asset-Backed Securities Loan Facility (TALF) loans on the August 6 loan subscription date for asset-backed securities (ABS). For the first time, approximately $1 billion of loan requests were made for floorplan ABS. Loan requests were also made for $2.5 billion of credit card ABS, $2.4 billion of student loan ABS, $555 million of auto ABS, $149 million of small business loan ABS, and $107 million of servicing advance ABS. The total amount of TALF loan requests to date is now approximately $37 billion.
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Borrowers request $6.9 billion of TALF loans for ABS in August
- Katten Muchin Rosenman LLP
- Eric Adams, Hays Ellisen, Reid A. Mandel and Rachel B. Coan
- August 7 2009
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