Thursday, September 10, 2009

TALF recent operation focused on credit cards

The TALF program continues to move at a fairly weak pace. About $50 billion has been financed through this program. This may seem substantial, but consider that within a year, the total US consumer credit has dropped by double that.

TALF over time

The focus in September has been on credit cards, with over 2/3 of the financing. Banks are trying to sell some credit card portfolios as they continue to reduce their consumer exposure. With government non-recourse leverage, there are some investors interested in the asset class.

Sep-09 non CMBS TALF operation

Related Posts Plugin for WordPress, Blogger...
Bookmark this post:
Share on StockTwits