Bloomberg News

TALF Bailout Program Repaid in Full, U.S. Treasury Says

January 15, 2013

The U.S. Treasury Department said the Term Asset-Backed Securities Loan Facility, or TALF, had been repaid in full.

Interest and other gains above principal repayments from the program total $173 million, the Treasury said in a statement today. Under TALF, a bailout program that started operating in March 2009, the Federal Reserve lent funds to investors in highly rated asset-backed securities and commercial mortgage- backed securities.

TALF supported the origination of almost 3 million auto loans, more than 1 million student loans and about 900,000 loans to small businesses, the Treasury said.

Accumulated fees collected through TALF total $856 million, exceeding the total principal amount of TALF loans outstanding, $556 million, according to the Treasury.

To contact the reporter on this story: Ian Katz in Washington at ikatz2@bloomberg.net.

To contact the editor responsible for this story: Chris Wellisz at cwellisz@bloomberg.net


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