St. Louis Fed | Economic Research | FRED® | GeoFRED® | ALFRED® | CASSIDI® | FRASER® | Page One Economics | APIs | Fed System
ALFRED: Archival Federal Reserve Economic Data, Economic Data Time Travel from the St. Louis Fed
Categories | Sources | Releases | News | API | Published Data Lists | Help
 

Home > Releases > H.4.1 Factors Affecting Reserve Balances > Net Portfolio Holdings of TALF LLC (WHTALF)

Net Portfolio Holdings of TALF LLC (WHTALF)

Download Data | Add to My Data List | Current Series in FRED

Graph: Edit | Print | PDF | Save

Type: Line | Bar Size: Medium | Large | X-Large
Range: 1yr Max Log Scale: Left
Units:  Levels | Chg. | Chg. from Yr. Ago | % Chg. | % Chg. from Yr. Ago | Comp. Annual Rate of Chg. | Cont. Comp. Rate of Chg. | Cont. Comp. Annual Rate of Chg.
Notes: Growth Rate Calculations | US recession dates
  Real-Time Period
Title Start     End     

Net Portfolio Holdings of TALF LLC 2009-11-19 Current
 
Source    

Board of Governors of the Federal Reserve System (US) 2009-11-19 Current
 
Release    

H.4.1 Factors Affecting Reserve Balances 2009-11-19 Current
 
Units    

Billions of Dollars 2009-11-19 Current
 
Frequency    

Weekly, Ending Wednesday 2009-11-19 Current
 
Seasonal Adjustment    

Not Seasonally Adjusted 2009-11-19 Current
 
Notes    

On November 25, 2008, the Federal Reserve announced the creation of the Term Asset-Backed Securities Loan Facility (TALF) under the authority of section 13(3) of the Federal Reserve Act. The TALF is a facility under which the Federal Reserve Bank of New York (FRBNY) extends loans with a term of up to five years to holders of eligible asset-backed securities. The TALF is intended to assist financial markets in accommodating the credit needs of consumers and businesses by facilitating the issuance of asset-backed securities collateralized by a variety of consumer and business loans. The loans provided through the TALF to eligible borrowers are non-recourse,
meaning that the obligation of the borrower can be discharged by surrendering the collateral to the FRBNY. The loans are extended for the market value of the security less an amount known as a haircut. As a result, the
borrower bears the initial risk of a decline in the value of the security.


TALF LLC is a limited liability company formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the decision of a borrower not to repay a TALF loan. TALF LLC has committed, for a
fee, to purchase all asset-backed securities received by the FRBNY in conjunction with a TALF loan at a price equal to the TALF loan plus accrued but unpaid interest. Losses on asset-backed securities held by TALF LLC
will be offset in the following order: by the commitment fees collected by TALF LLC, by the interest received on investments of TALF LLC, by up to $20 billion in subordinated debt funding provided by the U.S. Treasury, and
finally, by senior debt funding provided by the FRBNY. Payments by TALF LLC from the proceeds of its net portfolio holdings will be made in the following order: operating expenses of TALF LLC, principal due to the FRBNY, principal
due to the U.S. Treasury, interest due to the FRBNY, and interest due to the U.S. Treasury. Any remaining funds will be shared by the FRBNY and the U.S. Treasury.

2009-11-19 Current
 

Related Categories

Money, Banking, & Finance > Monetary Data > Factors Affecting Reserve Balances


Privacy Policy | Legal Notices, Information and Disclaimers | Contact Us | Help
© 2014 Federal Reserve Bank of St. Louis