UPDATE 1-FACTBOX-Fed opens $800 bln spigot for consumer loans


WASHINGTON, Nov 25 (Reuters) - The U.S. Federal Reserve, with the backing of the Treasury, on Tuesday outlined an $800 billion lending facility to support the market for consumer debt securities. The fresh money will chiefly be used to loosen up the housing finance market, but a share will aid the asset-backed securities market in a program called the Term Asset-backed Securities Loan Facility, or TALF. Following are details of the plan: * Beginning next week, the Fed will buy up to $100 ...

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