U.S. might use TALF to remove banks' distressed assets

03/19/2009 | Bloomberg

The Obama administration is considering using the Federal Reserve's Term Asset-Backed Securities Loan Facility to take distressed assets off banks' balance sheets, sources said. The change might also mean a larger role for the Federal Deposit Insurance Corp. U.S. Treasury Secretary Timothy Geithner is expected to be planning approaches to help cleanse the balance sheets of troubled banks. His next announcement is expected to be critical after the sell-off of financial stocks sparked by the previous unveiling.

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