About $6 billion in consumer-loan-backed deals will be sold ahead of the loan application deadline for a Federal Reserve program to rejuvenate the asset-backed market.
The largest bond eligible for the Term Asset-Backed Securities Loan Facility, through which the central bank offers non-recourse loans at cheap rates, is Bank of America Auto Trust's $2.03 billion deal.
Today is the next loan application deadline for the consumer loan-backed portion of Talf.
Other deals being sold include auto-sector deals from GMAC's Ally Bank with an $884.9 million bond and Americredit Corp. with a $227 million deal.
Equipment-sector deals include an $800 million deal from CNH, a $654 million deal from General Electric Small Ticket and a $350 million deal from Navistar International Corp.
Several non-Talf deals are also in the market.
