The authors explain the role of asset-backed securities markets in generating credit and liquidity and how this role … was disrupted during the financial crisis. They discuss the implementation of the Term Asset-Backed Securities Loan … Facility (TALF) and argue that this program helped reestablish the ABS markets and the credit supply. and the reversion to a …

burst, the value of the collateral backing much of the asset-backed securities (ABS) declined sharply, and so did the value … of the securities themselves. The Federal Reserve responded by creating the term asset-backed securities loan facility …

assets underlying many asset-backed securities (ABS), particularly U.S. mortgages. The prominence of European banks in the … early stages of the turmoil created the perception that foreigners held an outsized share of risky U.S. securities and … ABS with U.S. underlying collateral. Using the latest survey data on foreign portfolio holdings of U.S. securities, we …

Remarks at the Global Association of Risk Professionals 12th Annual Risk Management Convention, New York City. …

Remarks at the Global Association of Risk Professionals 12th Annual Risk Management Convention, New York City. …

conditions in securitization markets but did not subsidize individual securities. We also find that the risk of loss to the US …-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 program and find that it lowered interest rate spreads for some categories of asset …

The current recession has deepened because of shrinking credit flows from banks, nonbank lenders and securities markets …. This contrasts with the early 1990s, when new bonds and commercial paper cushioned a bank credit crunch, and with the high …. ; This time, breakdowns in key credit markets posed great risks to the financial system and the broader economy. The Federal …