On March 19, the Federal Reserve Bank of New York (FRBNY) released the initial results for the first round of loan requests for funding from the Term Asset-Backed Securities Lending Facility (TALF). The amount of TALF loans requested at the March 17-19 operation was $4.7 billion, including $1.9 million of loan requests related to auto loans, and $2.8 billion of loan requests related to credit cards. No loan requests were made with respect to student loans or Small Business Administration guaranteed loans.
Additional details on the April funding will be released on March 24. Subscriptions for the April funding will be accepted on April 7, and those loans will settle on April 14.