WASHINGTON -- The U.S. Treasury and Federal Reserve launched a highly anticipated lending facility Tuesday aimed at generating up to $1 trillion in consumer and small business loans.
The Term Asset-Backed Securities Loan Facility, which is scheduled to begin disbursing funds March 25, will make loans to purchasers of AAA-rated securities backed by new auto, credit card, student and Small Business Administration guaranteed loans. The facility is commonly referred to as the TALF.
