The Term Asset-Backed Securities Loan Facility The Term Asset-Backed Securities Loan Facility (TALF) supported the issuance of securities backed by newly and recently originated student loans, auto loans, credit card loans, commercial mortgages, loans backed by the Small Business Administration, and certain other assets.
It will allow participants to assess and move collateral on a domestic and cross-border basis, and to settle monetary policy operations; it will be integrated with the other Eurosystem infrastructures, especially TARGET2 and T2S, creating an infrastructure that works seamlessly across the euro area.