Restoring Capital: A Primer on TARP and TALF

Event Details

Time: February 5, 2009 from 1:30pm to 2:15pm
Location: Online (Eastern time)
Event Type: webinar
Organized By: The American Financial Services Association and Auto Finance News/AutoFinanceNews.net
Latest Activity: Dec 2, 2009

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Event Description

Lack of capital is the No. 1 issue gripping auto financiers these days. Without access to rationally priced funds, lenders have been forced to keep the reins tight on originations. Enter the federal government, which has created two programs meant to unlock the frozen capital markets. But the Troubled Asset Relief Program (TARP) and the Term Asset-Backed Securities Loan Facility (TALF), as the initiatives are called, are complicated, and details uncertain.

This complimentary webinar exclusively for AutoFinanceNews.net Members and sponsored by Lazenby & Associates will cut through the complexity of TARP and TALF, and clarify the ramifications for the auto finance industry. The webinar features Bill Himpler, executive vice president at the American Financial Services Association, a Washington, D.C.-based trade group that represents 350 consumer and commercial finance companies and a Member of AutoFinanceNews.net, in a discussion with Marcie D. Belles, Senior Editor of Auto Finance News.

There is no charge to participate in this webinar. The event is limited to 90 participants on a first-come, first-served basis.

This event is presented by the American Financial Services Association and Auto Finance News/AutoFinanceNews.net.

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Comment by Marcie Belles on February 19, 2009 at 11:08am: For a recording of the webinar, click here.

Comment by Molly Devine on February 5, 2009 at 2:11pm: We will also post the audio file from this webinar on AutoFinanceNews.net early next week. Please check back for that and thank you for participating.

Comment by Frank Rauscher on February 5, 2009 at 2:08pm: Will TARP and TALF money be available for funding "subvention" programs to buy down interest rates?

Comment by Frank Rauscher on February 5, 2009 at 2:01pm: Car financing is basically collateral lending. The price of gas can dramatically affect the collateral values. How are lenders going to change their underwriting to account for rapid value fluctuations?

Comment by Mac Dorris on February 5, 2009 at 1:56pm: I do a lot of work in the subprime auto securitization area. I'd like to hear your thoughts on the prospects of broadening the program to AA and A rated notes? A second question: is there any more guidance coming with respect to whether the executive compensation restrictions will apply only to the sponsor of the transaction or whether they will apply to all of the sponsors affiliates? This wouldn't seem to be appropriate given that the point of TALF is to help make credit more available to the consumer and that the sponsor isn't getting the loan. The investor gets the loan.

Comment by Frank Rauscher on February 5, 2009 at 1:55pm: Who is working with the rating companies to review the rating catagories?
Why would potential buyers of the securities have any confidence in the ratings? what constrictions in terms (amount financed, years financed, contract max interest rates etc) are happening

Comment by Jeffrey W. Kramer on February 5, 2009 at 1:54pm: How will the $20B credit backstop work in conjunction with the $200B lending facility to help issuers/investors related to TALF?
Thx

Comment by Ken Owensby on February 5, 2009 at 1:52pm: Any impact to the funds utilization based on the $500k executive compensation reg recently announced?

Comment by Molly Devine on February 5, 2009 at 1:41pm: This is an audio discussion only. You can submit questions via this webpage.

Comment by Mike Gibb on February 5, 2009 at 1:37pm: Paul -- the webinar will be comprised of the discussion between Marcie Belles and Bill Himpler.