Kirkland Alert Kirkland & Ellis LLP

TALF 2.0: Will This Release Reboot The Market?

On December 19, 2008, the Federal Reserve Bank of New York released a revised set of terms and conditions for the Term Asset- Backed Securities Liquidity Facility. The Fed’s goal for the TALF is to provide liquidity to the market for asset-backed securities backed by pools of consumer assets in order to facilitate new issuances, and in turn revive consumer lending.