A May 18 article published by FundFire titled “Pensions Seek Managers to Tap into Fed TALF Opportunity” provides an overview of the various institutional investors that have expressed interest in the Federal Reserve’s Term Asset-Backed Securities Loan Facility, known as TALF. TALF was announced by the Federal Reserve in late March to support the flow of credit to businesses and consumers in response to the COVID-19 crisis. The emergency lending facility was originally created during the 2008 Financial Crisis to jumpstart the asset-backed security market.
“The TALF program provides attractive non-recourse financing for the purchases of highly rated asset backed securities. That combination can drive attractive returns, especially if the securities can be acquired at a discount,” asset management partner Michael Doherty stated in the piece.
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