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How are variable funding notes (VFNs) with commitment termination dates in 2009 treated in the calculation of the amount of an issuers credit card or auto dealer floorplan ABS maturing in 2009?

April 26, 2017commitment credit card dates funding issuer notes termination treated vfns

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How are variable funding notes (VFNs) with commitment termination dates in 2009 treated in the calculation of the amount of an issuers credit card or auto dealer floorplan ABS maturing in 2009?

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For TALF purposes, a VFN’s maturity date is its commitment termination date and its amount is its maximum contractual principal balance, regardless of whether the VFN is renewed.