The Asset-Backed Securities Markets, the Crisis and TALF
Sumit Agarwal, Jacqueline Barrett, Crystal Cun, Mariacristina De Nardi
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.
