After peaking at $11.5 billion last month, requests for loans through the Term Asset-Backed Securities Loan Facility (TALF) dropped to $5.4 billion, the Federal Reserve Bank of New York said Tuesday.

Bids totaled $2.8 billion from investors pledging securities backed by auto loans and nearly $1.5 billion from investors with credit card securities. Another $986.8 million is related to student loans while $101.6 million stems from small business loans.

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