Campbell, Sean; Covitz, Daniel; Nelson, William; Pence, … - In: Journal of Monetary Economics 58 (2011) 5, pp. 518-531
In response to the near collapse of US securitization markets in 2008, the Federal Reserve created the Term Asset-Backed Securities Loan Facility, which offered non-recourse loans to finance investors’ purchases of certain highly rated asset-backed securities. We study the effects of this...
