Marine floorplan financing loans included in TALF

Published On: May 1, 2009Categories: Industry News

The Federal Reserve Bank of New York and U.S. Treasury announced that the Term Asset-Backed Securities Lending Facility (TALF) will include marine floorplan financing loans. This will provide important new liquidity to this credit market and help relieve the mounting pressure on marine retailers and dealers.

TALF is designed to reignite securitization markets by providing financing to investors to support their purchases of certain AAA-rated asset-backed securities (ABS). In the first round of the TALF program, the Federal Reserve Bank of New York will lend up to $200 billion to eligible owners of certain AAA-rated ABS-backed eligible securities for auto loans, credit card loans, student loans, and SBA-guaranteed small business loans.