Home | Business News | Browse by Publication | M | Mondaq Business Briefing

Fed Announces Expansion Of TALF To Legacy CMBS.

Publication: Mondaq Business Briefing
Publication Date: 27-MAY-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
On May 19, 2009, the Federal Reserve Bank of New York (NY Federal Reserve) announced the expansion of its Term Asset-Backed Securities Loan Facility (TALF) to include commercial mortgage-backed securities issued before January 1, 2009 (Legacy CMBS). The TALF program, launched by the NY Federal Reserve in March 2009, is intended to increase the availability of credit and support economic activity in the United States by providing non-recourse loans to purchasers of newly issued asset-backed securities (ABS). Including Legacy CMBS as eligible collateral for TALF loans is intended to promote price discovery and liquidity for those securities. The Federal Reserve Board expects that improving the market for these securities should facilitate the issuance of new CMBS and thus help borrowers finance new commercial mortgages and refinance existing commercial mortgages on better terms.

Generally, the terms and conditions of the TALF program applicable to newly issued CMBS will apply to Legacy...

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!



More articles from Mondaq Business Briefing
Kyocera Changes The Landscape For Relief In The International Trade Co..., June 01, 2009
Government Guidance - Significant Changes As A Further Part Of "Cultur..., June 01, 2009
IP Snapshot - May 2009., June 01, 2009
Implications Of The Fair Work Act In A Contracting Economy., June 01, 2009
Protecting The Aura Of Luxury: ECJ Guidance On Trade Marks., June 01, 2009

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.