NEW YORK (MarketWatch) -- Citigroup Inc. C, +0.91% is in the market with a $3 billion credit-card loan-backed deal that is eligible for funding under the Federal Reserve's facility to revive the consumer-lending market.

This is the fourth deal that investors can buy using funds from the Fed's Term Asset-Backed Securities Loan Facility, or TALF.

Previous deals are in the auto sector.

On Wednesday, Huntington National Bank, a unit of Huntington Bancshares Inc. (HBAN), offered an $830 million bond deal backed by prime auto loans.

Ford Motor Co.'s (F) Ford Motor Credit Co. issued a $2.954 billion deal backed by auto receivables on Wednesday.

On Tuesday, auto maker Nissan Motor Co. (NSANY) said it will sell $1.5 billion of bonds backed by auto receivables.

The U.S. central bank began accepting requests for its highly anticipated $200 billion program on Tuesday.

The facility is aimed at jump-starting the securitization market, which dried up during the financial crisis in the past few months.

The central bank will issue loans to investors so they purchase newly created top-tier bonds backed by auto, credit-card, student and small business loans.

On Wednesday, the Fed said it will expand the program to accept other types of collateral. It has said the facility could be increased to $1 trillion and include residential and mortgage-backed securities.

Interest in the program is strong, according to some market participants, as investors line up to find out if they are eligible and how best to access the non-recourse funds at rates and terms market participants call "attractive."

Thursday marked the deadline for investors interested in participating in round one of the program that will dole out funds once a month. The Fed hands over funds from this round March 25.

The bank has issued several clarifications about who would be eligible for the funds, saying if a borrower posts "eligible collateral there should be every expectation of financing."

-Contact: 201-938-5400