Data Dictionary

Item Number J818
LOANS AND SECURITIES: TALF - SENIOR LOAN PAYABLE TO FRBNY

Call confidentiality applies to FFIEC 031/041.

Series Start Date End Date Confidential? Reporting Forms
FRBSJ818 2009-11-12 9999-12-31 Yes FR 34

Data Description:

Under the Term Asset-Backed Securities Loan Facility (TALF), the New York Reserve Bank provides loans to eligible issuers of asset-backed securities (ABS). The New York Reserve Bank will record all TALF loans at fair value under FASB ASC Topic 825-10; formerly SFAS No. 159, rather than at the remaining principal amount outstanding. Recording the TALF loans at fair value improves accounting consistency and results in appropriate GAAP presentation of the TALF program on a consolidated basis by matching the change in fair value of TALF loans with changes in the value of the related TALF LLC commitment. In addition, recording all TALF-related assets and liabilities at fair value represents the economics of the program.

Pursuant to the put agreement with the New York Reserve Bank, the TALF
LLC will purchase and manage any ABS that might be received by the Bank in connection with the TALF program loans. The primary asset accounts related to the loan facility and the TALF LLC are described below.

Term Asset-Backed Securities Loan Facility:
145-400 TALF - Loans extended to borrowers
145-415 TALF - ABS held by FRBNY
145-430 TALF - Value of put option with LLC
145-445 TALF - Cash equivalents
145-460 TALF - Credit extended by FRBNY to LLC
145-575 TALF - FV of TALF loans
TALF LLC:
145-475 TALF - Accrued interest payable - FRBNY
145-500 TALF - Other investments
145-515 TALF - ABS held by TALF LLC
145-530 TALF - AIR investment
145-545 TALF - Senior loan payable to FRBNY
145-560 TALF - FV adjustment of FRBNY senior loan

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