|The Fed listened
to sponsors that warnedTalf restrictions would have a
After more than three months, the US Treasury Department and
Federal Reserve launched the Term Asset-Backed Securities Loan
Facility (Talf) last month with some unexpected omissions.
"The Talf is designed to catalyse the securitisation markets
by providing financing to investors to support their purchases
of certain AAA-rated asset-backed securities," said the
Treasury and Federal Reserve upon the announcement.
Participants will not be limited by Troubled Asset Relief
Programme (Tarp) constraints, such as executive compensation
and golden parachute restrictions. Before last month's