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US FED: Fed Announces TALF Structure, First Funding March 25

Washington, March 3 - The Federal Reserve today said its new Term Asset-Backed Securities Loan Facility (TALF) would begin making loans this month, a move that will allow holders of AAA-rated securities backed by assets such as auto, credit card, student and small business loans to access up to $200 bln in loans from the NY FRB.

The Fed said it would release TALF funds in monthly tranches, and would market the first wave of funding to investors between today and March 17, after which the first TALF funds will be dispersed on March 25. The second disbursement would be marketed between March 24 and April 7 and funded on April 14. The NY FRB will announce future TALF funding schedules.

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