If more than $20 billion in assets are purchased
the FRBNY will lend additional funds to finance such additional purchases
The FRBNY’s loan …will be senior to the TARP subordinated loan
and secured by all the assets
All cash flows …will be used first to repay principal and interest
on the FRBNY senior loan until the loan is repaid in full
Next, cash flows from assets will be used to repay principal and interest
on the TARP subordinated loan
Term Asset-Backed Securities Loan Facility (TALF)
If the US Treasury’s Troubled Assets Relief Program (TARP)
purchases the first $20 billion of assets for TALF
why is the Federal Reserve Bank of New York
a senior creditor to US taxpayers?
If the Federal Reserve hopes to lend $1.25 trillion in 2009
where is the money coming from?
Is it progress
if a cannibal uses a knife and fork?
Stanislaw Lec
No comments:
Post a Comment