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ARTICLE · 05 FEBRUARY 2009

Canadian Government To Support Vehicle And Equipment ABS

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As part of its January 27, 2009 budget announcements, the Canadian federal government has announced the creation of a C$12-billion Canadian Secured Credit Facility for the purchase of term asset-backed securities (ABS) backed by loans and leases on vehicles and equipment.

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Article by Michael Burke , Martin Fingerhut and Mark Selick

Copyright 2009, Blake, Cassels & Graydon LLP

Originally published in Blakes Bulletin on Securitization, February 2009

As part of its January 27, 2009 budget announcements, the Canadian federal government has announced the creation of a C$12-billion Canadian Secured Credit Facility for the purchase of term asset-backed securities (ABS) backed by loans and leases on vehicles and equipment. The program, likely to be similar to the U. S. government's term asset-backed lending facility (TALF), is aimed at supporting "financing for vehicles and equipment for consumers and businesses, large and small."

At this point, few details are available, but here are some things we do know.

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