The press release explains:
The TALF is designed to catalyze the securitization markets by providing financing to investors to support their purchases of certain AAA-rated asset-backed securities (ABS). These markets have historically been a critical component of lending in our financial system, but they have been virtually shuttered since the worsening of the financial crisis in October. By reopening these markets, the TALF will assist lenders in meeting the borrowing needs of consumers and small businesses, helping to stimulate the broader economy.
On March 17, 2009 the program will accept subscriptions for funding and on March 25 the new securitizations will be funded, creating new lending capacity for additional future loans. Funding should continue on a monthly basis through December 2009 or longer at the discretion of the Federal Reserve Board.
See http://www.financialstability.gov/ for additional information about the TALF and the CBLI (Consumer Business Lending Initiative).
