Wednesday, November 25,  9:32 am

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The U.S. Treasury and Federal Reserve on Tuesday launched a highly anticipated lending facility aimed at generating up to $1 trillion in consumer and small business loans.

The Term Asset-Backed Securities Loan Facility will make loans to purchasers of highly rated or triple A-rated securities backed by new auto, credit card, student and Small Business Administration guaranteed loans. The facility is commonly referred to as the TALF.

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