Head FRS supports the further injections of means in economyIn the USA still the severe need in the program of crediting TALF whereas necessity for other governmental programs has gradually disappeared in connection with the begun restoration of the market remains. With such statement the head of Federal reserve system (FRS) the USA Ben Bernanke has acted today.
In its opinion, the given program which has been started during the current year, has allowed “ to restart “ work of the markets sekjuritizirovannyh papers in the field of consumer crediting and small-scale business crediting. B.Bernanke has declared that the markets sekjuritizirovannyh papers are an important credit facility, therefore “ the actual termination of their work during crisis has reduced availability of crediting to many borrowers “.
Since start of program TALF it has been given about 3 million consumer credits and about 400 thousand Credits to the small-scale business enterprises, head FRS has noted. Credits within the limits of the given program are accessible to the most different borrowers. According to B.Bernanke, in the program can take part “ any domitsilirovannaja in the USA firm “. Since program start 121 borrower has taken part in it, he has underlined.
we will remind, within the limits of TALF (crediting programs on security the securities provided with actives of borrowers) Federal reserve system gives means to holders of the securities created as it should be sekjuritizatsii of autocredits, loans to students, to households, small-scale business and etc. Till May of this year as maintenance under credits FRS the papers having the higher ratings only from leading international rating agencies could act. However on May, 20th 2009ã. FRS has expanded the list of the rating agencies admitted to an estimation of papers within the limits of program TALF. To “ to a three “ The international rating agencies Fitch Ratings, Moody`s Investors Service and Standard and Poor`s are added the Canadian agency DBRS and American Realpoint.