Issuers were marketing several asset-backed securities offerings this week, some of which are eligible for funding under a Federal Reserve program.
Bank of America Corp.'s Auto Trust is marketing a $2.027 billion issue that is eligible for cheap funds under the Fed's Term Asset-Backed Securities Loan Facility, said a person familiar with the deal.
The next loan application deadline for the program is Nov. 3 for the consumer loan-backed deal portion of Talf.
More than $116 billion of asset-backed securities deals have sold this year, according to research from Citigroup Inc. Of this, about $83 billion worth were eligible for Talf. Last year at this time, asset-backed securities issuance stood at $127.23 billion.