Coronavirus: U.S. Federal Reserve Establishes New Term Asset-Backed Securities Loan Facility (March 2020)
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On March 23, 2020, the Board of Governors of the Federal Reserve System launched six new programs in response to the distressed economic conditions caused by the COVID-19 pandemic, including a new Term Asset-Backed Securities Loan Facility to facilitate the issuance of asset-backed securities. Under the TALF, the Federal Reserve Bank of New York will establish and fund a special purpose vehicle to buy eligible ABS issued on or after March 23, 2020.
