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Keywords:Term Asset-Backed Securities Loan Facility (TALF) 

Speech
Panel Remarks: The Fed and Main Street during the Coronavirus Pandemic

Panel Remarks at The Fed and Main Street during the Coronavirus Pandemic, WebEx event, April 23, 2020.
Speech

Speech
Fixing wholesale funding to build a more stable financial system

Remarks at the New York Bankers Association's 2013 Annual Meeting & Economic Forum, The Waldorf Astoria, New York City.
Speech

Journal Article
The Federal Reserve’s Term Asset-Backed Securities Loan Facility

The securitization markets for consumer and business asset-backed securities (ABS) and commercial mortgage-backed securities (CMBS), which supply a substantial share of credit to consumers and small businesses, came to a near-complete halt in the fall of 2008, as investors responded to a drastic decline in funding liquidity by curtailing their participation in these markets. In response, the Federal Reserve introduced the TALF program, which extended term loans collateralized by securities to buyers of certain high-quality ABS and CMBS, as part of a broad array of emergency liquidity measures ...
Economic Policy Review , Volume 18 , Issue Nov , Pages 29-66

Speech
Managing crises without government guarantees—how do we get there?

Remarks at Banking Law Symposium 2011, Paris, France.
Speech

Discussion Paper
Securing Secured Finance: The Term Asset-Backed Securities Loan Facility

The asset-backed securities (ABS) market, by supporting loans to households and businesses such as credit card and student loans, is essential to the flow of credit in the economy. The COVID-19 pandemic disrupted this market, resulting in higher interest rate spreads on ABS and halting the issuance of most ABS asset classes. On March 23, 2020, the Fed established the Term Asset-Backed Securities Loan Facility (TALF) to facilitate the issuance of ABS backed by a variety of loan types including student loans, credit card loans, and loans guaranteed by the Small Business Administration (SBA), ...
Liberty Street Economics , Paper 20200807

Speech
Implementing the Fed’s Facilities: Moving at Maximum Speed with Maximum Care

Remarks before the Money Marketeers of New York University (delivered via audio webinar).
Speech

Speech
The Fed’s Emergency Facilities: Usage, Impact, and Early Lessons

Remarks at Hudson Valley Pattern for Progress (delivered via videoconference).
Speech

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