The American Financial Services Association presented a letter today to the U.S. Treasury Department and the Obama administration’s Auto Task Force that provided recommendations for increasing participation in TALF.
While TALF is beginning to attract greater participation, with nearly $10 billion worth of transactions in the latest round occurring this week, this figure is still a long way from the $1 trillion borrowing capacity available through TALF. Most notably, no floorplan auto ABS were issued under TALF in March and April 2009.
In the letter addressed to White House Auto Advisor Steven Rattner, AFSA recommends that the Treasury and Auto Task Force expand TALF eligibility to include all investment grades for floorplan financing.
To view AFSA’s other recommendations and the complete letter, click here.