Troubled Asset Relief Program : Treasury needs to strengthen its decision-making process on the Term Asset-Backed Securities Loan Facility : report to congressional committees.
Imprint
[Washington, D.C.] : U.S. Govt. Accountability Office, [2010]
Mode of access: Internet from GAO web site. Address as of 1/10/2011: http://www.gao.gov/new.items/d1025.pdf.
Note
Title from PDF title screen (GAO, viewed May 4, 2010).
"February 2010."
Summary
The Term Asset-Backed Securities Loan Facility (TALF) was created by the Board of Governors of the Federal Reserve System to help meet consumer and small business credit needs by supporting issuance of asset-backed securities (ABS) and commercial mortgage-backed securities (CMBS). This report assesses (1) the risks TALF-eligible assets pose to the Troubled Asset Relief Program (TARP), (2) Department of the Treasury's role in decision making for TALF, and (3) the condition of securitization markets before and after TALF. GAO reviewed program documents, analyzed data from prospectuses and other sources, and interviewed relevant agency officials and TALF participants.
