NEW YORK (Dow Jones) — Farm and construction machinery manufacturer CNH Global N.V. (CNH, NHL.BE) is marketing a $822 million bond deal, according to a person familiar with the matter.

Dubbed CNH 2010-A, the bond is backed by equipment loans.

Other asset-backed deals that emerged this week include a $580 million bond from Avis Budget and a $963 million bond from Ally Auto Rec. Trust.

Issuance of asset-backed deals after a Federal Reserve program supporting the consumer loan-backed market effectively ended earlier this month shows strength in the market.

The last loan application deadline for the central bank's Term Asset-Backed Securities Loan Facility, or TALF, was March 4. The program helped boost the securitization market by providing low-cost nonrecourse loans to investors to purchase newly-created consumer loan-backed bonds.

TALF was a "good idea," it was implemented "reasonably and achieved the desired end," said Randall Bauer, senior portfolio manager in the structured-products group at Federated Investors in Pittsburgh. "It was a demonstration to the market that to a certain extent, the Fed and Treasury had confidence in the securitization market."

It also showed that "there was nothing wrong with the securitization market or any financial market, in and of itself," Bauer said.

More than $100 billion in TALF-supported bonds were sold since TALF was launched in March last year. A hopeful sign emerged in November, when issuers sold more deals that did not need TALF funding than those that did. That was the first month non-TALF issuance surpassed those deals propped up by the Fed program.

-By Anusha Shrivastava, Dow Jones Newswires; 212-416-2227;