Term Asset-Backed Securities Loan Facility

The Term Asset-Backed Securities Loan Facility (TALF) is designed to help market participants meet the credit needs of households and small businesses by supporting the issuance of asset-backed securities (ABS) collateralized by student loans, auto loans, credit card loans and loans guaranteed by the Small Business Administration (SBA). Eligible borrowers must use a primary dealer, which will act as agent for the borrower, to access the TALF and must deliver eligible collateral to the New York Fed's custodian bank.

Operation Announcement
Operation Date: May 5, 2009
Settlement Date: May 12, 2009
Maturity Date: May 14, 2012
Facility Open: May 5, 2009 1:00 p.m. ET
Facility Close: May 5, 2009 3:00 p.m. ET
Administrative Fee: 5.00 basis points
Eligible Collateral: ABS1
Term: 3 years

Rates forMay 5,2009 Facility:

Sector

Subsector

Fixed (Weighted Avg Life in Yrs)

Floating

0-1

1-<2

>=2

Auto

2.0850

2.4960

2.9625

1.40125

Credit Card

2.0850

2.4960

2.9625

1.40125

Equipment

2.0850

2.4960

2.9625

1.40125

Floorplan

2.0850

2.4960

2.9625

1.40125

Servicing Advances

Residential mortgages

2.0850

2.4960

2.9625

1.40125

Small Business

SBA 7(a) loans

NA

NA

NA

1.000

Small Business

SBA 504 loans

NA

NA

2.4625

NA

Student Loan

Private

NA

NA

NA

1.40125

Student Loan

Gov't Guaranteed

NA

NA

NA

0.90125

Amount of TALF loans requested at May 5, 2009 Facility:

Sector

Amount

Auto

$2,184,661,171.55

Credit Card

$5,524,840,000.00

Student Loan

$2,347,482,720.00

Small Business

$86,564,701.63

Equipment

$456,075,698.26

Floorplan

-

Servicing Advances

-

Total

$10,599,624,291.44
1As defined in the terms & conditions
Recent Operations ››
H 4.1 Factors Affecting Reserve Balances
offsite
By continuing to use our site, you agree to our Terms of Use and Privacy Statement. You can learn more about how we use cookies by reviewing our Privacy Statement.   Close