In the wake of the failure of Lehman Brothers, the Federal Reserve launched the Term Asset-Backed Securities Loan Facility (TALF). This emergency program was designed to revive the market for securities backed by consumer loans through issuance of asset-backed securities (ABS) collateralized by student, auto, credit card, and Small Business Administration (SBA) guaranteed loans.

Daniel Yun will examine the program, its operation and achievements, and discuss how the U.S. Federal Reserve is working with the private sector—including some major Korean companies—to inject liquidity into the U.S. financial system.

Tuesday, May 26, 2009

TALF: The $1 Trillion Federal Reserve Program and South Korean Support to the U.S. Asset-Backed Market

Daniel Yun is the chief executive officer and founder of Belstar Group, LLC, a multi-strategy investment company based in New York. From 1998 to 2005, Yun was the managing partner and founder of Voyager Advisors, LLC, a special situations hedge fund based in New York. Prior to merging his operations, Voyager managed over $1 billion in institutional assets. Prior to this, Yun worked in various senior capacities at Lehman Brothers and Goldman Sachs. Upon graduating from the United States Military Academy at West Point with a Bachelor of Science in Economics in 1989, Yun was commissioned as a second lieutenant in the U.S. Army and served two tours of duty as a company commander in Korea. While in the U.S. Army, Yun attended Airborne, Air Assault and Ranger Schools, and obtained a Master in Public Administration from the University of Oklahoma.