US Treasury to Support Auto Loans


The U.S. Trea­sury Depart­ment is mak­ing $200 bil­lion avail­able to help bol­ster con­sumer loans includ­ing auto loans. These funds are part of the Term Asset-Backed Secu­ri­ties Loan Facil­i­ty. In addi­tion Trea­sury will pro­vide $20 bil­lion to the Fed­er­al Reserve from the orig­i­nal Trou­bled Asset Relief Pro­gram approved by Con­gress in the fall to be used as cred­it pro­tec­tion. NADA is work­ing with fed­er­al agen­cies to allow deal­er floor plan lines to be cov­ered.