Newsletter
Rescuing asset-backed securities markets
Agarwal, Sumit; Cun, Crystal; De Nardi, Mariacristina (2010-01)
On November 25, 2008, the Federal Reserve unveiled a loan facility to revive the market for asset-backed securities, which had essentially stopped functioning due to the global financial crisis. What are these securities and why is it important for these markets to continue to operate?
Chicago Fed Letter , Issue Jan

Journal Article
The asset-backed securities markets, the crisis and TALF
Agarwal, Sumit; De Nardi, Mariacristina; Barrett, Jacqueline; Cun, Crystal (2010-10)
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.
Economic Perspectives , Volume 34 , Issue Q IV , Pages 101-115