WASHINGTON, Nov. 25 (UPI) -- The U.S. Federal Reserve Board said Tuesday it would create a new program to help investors purchase credit card-, student- and auto-loan backed securities.
Under the Term Asset-Backed Securities Loan Facility, or TALF, the Federal Reserve Bank of New York will lend up to $200 billion to investors. The U.S. Treasury will also contribute $20 billion, using funds from the Troubled Asset Relief Program, the Fed said in a statement.