A Tale of Two Reports on Household Debt

WalletHub, Miami, reported this week that total household debt fell to $17.12 trillion in the first quarter as consumers paid down nearly $140 billion in debt during that period. Separately, the Federal Reserve of New York took a slightly different tack, reporting an increase in total household debt in the first quarter by $148 billion (0.9%) to $17.05 trillion.

New York Fed Posts TALF Term Sheet

The Federal Reserve Bank of New York yesterday posted a term sheet indicating servicing advances are eligible collateral for borrowing from the Term Asset-Backed Securities Loan facility, also known as TALF.