ELFA commends Federal Reserve expansion of TALF.
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Press Release Summary:
Federal Reserve Board announced that Term Asset Backed Securities Loan Facility (TALF) will be expanded to include asset backed securities (ABS) backed by loans and leases relating to business equipment. According to ELFA President Kenneth E. Bentsen, Jr., this will provide needed liquidity to secondary market for equipment finance assets while unlocking equipment finance ABS market. Additional details for April funding of TALF will be announced on March 24.
Original Press Release:
ELFA Commends Expansion of TALF to Equipment Leases and Loans
The Equipment Leasing and Finance Association (ELFA) commends the Federal Reserve Board's announcement today that the Term Asset Backed Securities Loan Facility (TALF) will be expanded to include asset backed securities (ABS) backed by loans and leases relating to business equipment. This new category will be eligible for the April funding of the TALF.
"Since November 2008, the ELFA has called on the Federal Reserve and the Treasury Department to expand TALF to include ABS backed by equipment loans and leases as eligible collateral under the program. This step will help provide much needed liquidity to the secondary market for equipment finance assets while unlocking the equipment finance ABS market," said ELFA President Kenneth E. Bentsen, Jr.
The ELFA looks forward to the March 24 announcement of additional details for the April funding of TALF.
About the ELFA
The Equipment Leasing and Finance Association (ELFA) is the trade association that represents companies in the $650 billion equipment finance sector, which includes financial services companies and manufacturers engaged in financing capital goods. ELFA members are the driving force behind the growth in the commercial equipment finance market and contribute to capital formation in the U.S. and abroad. Its over 700 members include independent and captive leasing and finance companies, banks, financial services corporations, broker/packagers and investment banks, as well as manufacturers and service providers.
For more information, please visit www.elfaonline.org
