The eighth TALF round closed last week. Of the $7.9 billion of new issuance in 12 transactions, $6.5 billion was TALF-eligible.
There were $2.47 billion of loan requests for the latest round, amounting to 38% of total new issuance, slightly below the 40% YTD ratio. Auto ABS sector accounted for 68% of the new issuance. According to market reports, the spread tightening trend continued in short-term tranches where strong demand from money market funds has spreads back to pre-crisis levels.