ELFA Commends extension of TALF program.
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Press Release Summary:
The Equipment Leasing and Finance Association (ELFA) commends the decision of the Federal Reserve Board and the U.S. Department of the Treasury to extend the Term Asset Backed Securities Loan Facility (TALF) program through March 31, 2010. This extension will serve to enhance much needed liquidity to secondary markets for equipment finance assets while continuing to unlock the equipment finance asset backed securities (ABS) market.
Original Press Release:
ELFA Commends Extension of the TALF Program for Equipment Leases and Loans
The Equipment Leasing and Finance Association commends today's decision by the Federal Reserve Board and the U.S. Department of the Treasury to extend the Term Asset Backed Securities Loan Facility (TALF) program through March 31, 2010.
At the request of the ELFA, in March 2009 the Federal Reserve and the Treasury expanded TALF to include asset backed securities (ABS) backed by equipment leases and loans. This decision made equipment leases and loans eligible for the April 2009 launch of the program and was a critical step in providing much needed liquidity to the secondary market for equipment finance assets while unlocking the equipment finance ABS market.
The ELFA called for an extension of the TALF program beyond its original December 31, 2009 expiration date and its extension through March 31, 2010 will enhance much needed liquidity to the secondary market for equipment finance assets while continuing to unlock the equipment finance ABS market.
