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Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (40339)	9/15/2011 11:45:51 PM
From: Les H	1 Recommendation Read Replies (1) \| Respond to of 119360

Factbox: How the TALF loan program worked -- Under TALF, the Fed agreed to take in high-rated asset backed securities (ABS) -- with a valuation "haircut" -- as collateral for loans to qualified firms for investment into new asset-backed securities. This allowed lenders, in turn, to continue to make new loans for cars, college education and small businesses even when crisis-wracked markets were unwilling to purchase their securities. The Fed effectively became the ABS market-maker. -- Among the first TALF borrowers were automakers Ford Motor Co and Nissan Motor Co Ltd. According to the New York Federal Reserve Bank, a total of $71.1 billion was loaned out under TALF, but never more than $49 billion at any one time before it stopped making new loans in July 2010. About $11.6 billion in loans remained outstanding as of last week, according to Fed data. No credit losses have been reported. reuters.com Interesting that a quarter of the TALF loans are still 'outstanding' after the program was discontinued.