Tuesday, February 10, 2009

Fed Expands TALF to $1 Trillion

by Calculated Risk on 2/10/2009 11:25:00 AM

From the Federal Reserve:

The Federal Reserve Board on Tuesday announced that it is prepared to undertake a substantial expansion of the Term Asset-Backed Securities Loan Facility (TALF). The expansion could increase the size of the TALF to as much as $1 trillion and could broaden the eligible collateral to encompass other types of newly issued AAA-rated asset-backed securities, such as commercial mortgage-backed securities, private-label residential mortgage-backed securities, and other asset-backed securities. An expansion of the TALF would be supported by the provision by the Treasury of additional funds from the Troubled Asset Relief Program.
emphasis added
Here is the new Treasury website. Geithner says this site will help provide much better transparency.

Here is a Financial Stability Plan Fact Sheet on the new plan (update: now available).

This was just a broad outline of a plan - not a specific plan.