Term Asset-Backed Securities Loan Facility

Definition:

A program announced by the Federal Reserve Bank in November 2008 to make loans to firms that would be purchasing high quality asset backed securities such as credit cards, student loans and some Small Business Administration loans.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Withholding tax

A tax levied by a country of source on income paid, usually on dividends remitted to the home country of the firm operating in a foreign country.

Subscribe to the Term of the Day via email Get the Term of the Day in your inbox!


Create your free portfolio