Securitized credit-card spreads drop as investors anticipate TALF
March 03, 2009 at 19:18 PM EST
Just the knowledge that the Federal Reserve was getting ready to plow up to $1 trillion in cheap funding into the asset-backed securitization market has driven down spreads on these pooled credit-card and auto loans, a sign that investors are ready to buy into the central bankâs latest liquidity program.