Susan Stiehm of the Federal Reserve Bank of New York said the Term Asset-Backed Securities Loan Facility has helped revive credit markets. "Consumer ABS issuance has picked up with about $86 billion in TALF-eligible issuance," Stiehm said. She added that there are indications that markets are less dependent on the facility's support. "Many issuers are relying less on TALF financing. This is a hopeful sign of a non-TALF-dependent market."

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