TALF stands for Term Auction Facility, a lending program created by the Federal Reserve in 2008 to provide liquidity to financial institutions during the financial crisis. The program was designed to encourage lending to businesses and consumers and help stabilize the financial system.
TALF provides loans to banks and other financial institutions that are secured by certain types of collateral, such as loans to businesses, consumer loans, and asset-backed securities. The loans are typically short-term, with maturities of three to twelve months.