In addition to the $17.4 billion loan program announced by the Bush administration last week, the Federal Reserve Board is also acting to help car dealerships maintain access to credit to continue their operations. Automotive News reports:
 

The Federal Reserve today said securities backed by new-car dealers’ floorplan loans will be included in a $200 billion program designed to stimulate small-business and consumer lending.

The program — called the Term Asset-Backed Securities Loan Facility, or TALF — is intended to help small businesses and consumers get credit. What it means is the dealers’ floorplan lenders should have greater liquidity which they can lend to the dealers for retail and wholesale.

These loans will be available to new car dealers through 2009.