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The asset-backed securities markets, the crisis and TALF

Author

Listed:
  • Sumit Agarwal
  • Jacqueline Barrett
  • Crystal Cun
  • Mariacristina De Nardi

Abstract

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 stable fiscal regime.

Suggested Citation

  • Sumit Agarwal & Jacqueline Barrett & Crystal Cun & Mariacristina De Nardi, 2010. "The asset-backed securities markets, the crisis and TALF," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 34(Q IV), pages 101-115.
    • Handle: RePEc:fip:fedhep:y:2010:i:qiv:p:101-115:n:v.34no.4
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    Cited by:

    1. Gaballo, Gaetano & Marimon, Ramon, 2021. "Breaking the spell with credit-easing: Self-confirming credit crises in competitive search economies," Journal of Monetary Economics, Elsevier, vol. 119(C), pages 1-20.
    2. Michael D. Bordo & John V. Duca, 2020. "How New Fed Corporate Bond Programs Dampened the Financial Accelerator in the COVID-19 Recession," Working Papers 2029, Federal Reserve Bank of Dallas.
    3. Martina Cecioni & Giuseppe Ferrero & Alessandro Secchi, 2018. "Unconventional Monetary Policy in Theory and in Practice," World Scientific Book Chapters, in: Douglas D Evanoff & George G Kaufman & A G Malliaris (ed.), Innovative Federal Reserve Policies During the Great Financial Crisis, chapter 1, pages 1-36, World Scientific Publishing Co. Pte. Ltd..
    4. Bordo, Michael D. & Duca, John V., 2022. "How new Fed corporate bond programs cushioned the Covid-19 recession," Journal of Banking & Finance, Elsevier, vol. 136(C).
    5. Sultanum, Bruno, 2018. "Financial fragility and over-the-counter markets," Journal of Economic Theory, Elsevier, vol. 177(C), pages 616-658.
    6. repec:fip:a00001:94154 is not listed on IDEAS
    7. Larry D. Wall, 2021. "So Far, So Good: Government Insurance of Financial Sector Tail Risk," Policy Hub, Federal Reserve Bank of Atlanta, vol. 2021(13), November.
    8. Paulo José Saraiva & Luiz Fernando De Paula & André De Melo Modenesi, 2016. "A Crise Financeira Americana E As Implicações Para A Política Monetária," Anais do XLII Encontro Nacional de Economia [Proceedings of the 42nd Brazilian Economics Meeting] 114, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].

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