TALF Offerings Trickle Out

In the roundup column of Westlaw Business' Legal Currents they mention the advent of TALF-specific prospectuses. To be a TALF-eligible investment asset-backed securities must have been issued since January 1st, be rated triple-A, and be backed by a pool of either credit card or auto loan payments.

Not many asset-backed deals have been registered or issued since January 1st. I used Westlaw Business' Registrations and Prospectuses search to find out which were TALF-eligible:

Citibank: 3 billion, credit card receivables, AAA
Nissan: 2.5 billion, auto loan receivables, AAA
Ford: 2.2 billion, auto loan receivables, AAA
Harley Davidson: 5 billion, auto loan receivables, AAA
AMEX: 50 billion, credit card receivables, AAA
Chase: shelf filed, credit card receivables, expected AAA
Honda: 1.3 billion, auto loan receivables, AAA

Four of these seven issuers have produced TALF-specific prospectuses with TALF-related risk factors and an attached "Certificate of TALF Eligibility." Three of the four are auto companies (and the fourth is Citibank).

Citibank
Nissan
Harley Davidson
Ford