On July 21, the Fed announced that Treasury will reduce the credit protection provided for TALF from $20 billion to $4.3 billion. The Fed had authorized up to $200 billion in TALF loans, but when the program closed on June 30, there were $43 billion in loans outstanding. The TALF FAQs and Terms and Conditions have been revised accordingly. Fed Press Release. Revised FAQs.  Revised Terms and Conditions.