More Federal Reserve lending:
$200 billion available for non-recourse loans, target collateral is asset based securities
$600 billion available for non recourse loans, target collateral is GSE debt/MBS
Below is some interesting text from the press release:
Eligible Borrowers
All U.S. persons that own eligible collateral may participate in the TALF. A U.S.
person is a natural person that is a U.S. citizen, a business entity that is organized
under the laws of the United States or a political subdivision or territory thereof
(including such an entity that has a non-U.S. parent company), or a U.S. branch or
agency of a foreign bank.
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1 comment:
Fed spending $100B to buy loans isn't much different than if the government spent $100B to buy SUVs off the dealer lots. These investments are not helping America, and its companies, become more competitive. We need to focus our assistance on moving forward with new business models that enhance competitiveness so companies can succeed in global markets. Read more at http://www.ThePhoenixPrinciple.com
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