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Investors requested $1.7 billion in loans for the second round of the Federal Reserve's program to revive consumer lending, the New York Fed said on Tuesday, signaling that managers remain wary of taking part.
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AP |
Investors requested about $0.8 billion of loans for securities backed by auto loans and about $0.9 billion of loans for credit card asset-backed securities in the Term Asset-Backed Securities Loan Facility, known by its acronym TALF, the New York Fed said.
Even though the list of eligible securities had been expanded in the April round, investors requested even less than in the first round.
In March, investors requested $4.7 billion in loans from the Fed.
The Fed has pledged to lend $200 billion in the first phase of the TALF and has said the program could be expanded to $1 trillion.
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