TALF to the Wesque!

Yesterday, the Treasury, Federal Reserve Board and the New York Fed announced a new program to revivify the asset-backed securities market. The Term Asset-Backed Securities Loan Facility is faddled wifth the liwsp induffuing acronym "TALF," the new program:

"is designed to catalyze the securitization markets by providing financing to investors to support their purchases of certain AAA-rated asset-backed securities (ABS) [...] the Federal Reserve Bank of New York will lend up to $200 billion to eligible owners of certain AAA-rated ABS backed by newly and recently originated auto loans, credit card loans, student loans, and SBA-guaranteed small business loans."

The TALF Master Loan and Security Agreement are available on the NY Fed's website.