Fed Extends the TALF

The Fed just announced that they will extend the Term Asset-Backed Securities Loan Facility (TALF) program to March 2010 from its original expiry date of Dec 2009, and to Jun 2010 for CMBS.  The TALF was designed to help stoke the asset backed security market in an attempt to help unlock consumer and small business credit markets.  The Fed does not foresee any additions or changes to what is currently accepted as collateral in the program.  “The Board will continue to monitor financial conditions and will consider in the future whether unusual and exigent circumstances warrant a further extension of the TALF to help promote financial stability and economic growth.”