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| Friday, November 20, 2009 |
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ANALYSIS
March 2, 2009
Sagging Index no longer reflects what’s going on in the market, some say, Replacements? Google it, to start.
March 2, 2009
Downward price spiral will actually boost the cost of capital for most companies. CFOS, take note.
March 2, 2009
The latest bailout at AIG could be a preview of how the president will deal with Wall Street.
March 2, 2009
No corporate defaults. Big debt offerings. Percolating CP issuance. Things may be looking up in the capital markets.
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March 3, 2009 11:09 AM ET
(Reuters) — The Federal Reserve and Treasury Department on Tuesday announced the launch of a lending facility for consumer-backed debt that they said potentially will generate up to $1 trillion in lending. They said the New York Federal Reserve Bank will lend up to $200 billion to owners of triple-A rated asset-backed securities supported by new and recently originated auto loans, credit card loans, student loans and government-guaranteed small business loans. In an announcement, they said that consideration was being given to allowing a broader range of assets to be considered as backing for asset-backed securities that would be supported under the program at a later date. The Fed and Treasury said the Term Asset-backed Securities Loan Facility, or TALF, is designed to give securitization markets a jolt by offering financing for investors to encourage them to buy AAA-rated asset-backed securities. Markets for the securitization of loans have virtually shut down since the financial crisis worsened in October, making it difficult for would-be new-car buyers to get loans or to conclude other basic consumer transactions. By April, the program could be extended to include asset-backed securities backed small ticket equipment, heavy equipment and agricultural loans and leases. Other securities under consideration include private-label mortgage-backed securities, collateralized loan and debt obligations. In addition, the Fed and Treasury said they might include non-auto floor loans as well as securities backed by mortgage-servicer advances.
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CRAIN'S BENEFITS OUTLOOK 2009
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