The asset-backed securities markets, the crisis and TALF

Agarwal, Sumit; Barrett, Jacqueline; Cun, Crystal; De Nardi, Mariacristina

Journal Article

The asset-backed securities markets, the crisis and TALF

Abstract: The authors explain the role of asset-backed securities markets in generating credit and liquidity and how this role was disrupted during the financial crisis. They discuss the implementation of the Term Asset-Backed Securities Loan Facility (TALF) and argue that this program helped reestablish the ABS markets and the credit supply. and the reversion to a stable fiscal regime.

Keywords: Financial crises; Securities; Asset-backed financing;