| Term Asset-Backed Securities Loan Facility: CMBS |
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The Federal Reserve created the Term Asset-Backed Securities Loan Facility (TALF), to help market participants meet the credit needs of households and small businesses by supporting the issuance of asset-backed securities (ABS) collateralized by auto loans, student loans, credit card loans, equipment loans, floorplan loans, insurance premium finance loans, loans guaranteed by the Small Business Administration, residential mortgage servicing advances, or commercial mortgage loans. Eligible borrowers must use a TALF Agent, which will act as agent for the borrower, to access the TALF and must deliver eligible collateral to the New York Fed’s custodian bank. The following operations announcement pertains to new issue and legacy commercial mortgage-backed securities: |
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Operation
Announcement |
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| Subscription Date: | October 21, 2009 | |
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| Closing Date: | October 29, 2009 | |
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| 3-Year Maturity Date: | October 29, 2012 | |
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| 5-Year Maturity Date: | October 29, 2014 | |
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| Facility Open: | October 21, 2009 8:00 a.m. ET | |
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| Facility Close: | October 21, 2009 3:00 p.m. ET | |
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| Administrative Fee: | 20.00 basis points | |
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| Eligible Collateral: | CMBS1 | |
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| Loan Term: | 3 or 5 years | |
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| Rates for October 21, 2009 Facility: | ||||||
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| Amount of TALF loans requested at October 21, 2009 Facilty: | ||||||
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| Amount of TALF loans settled for October 21, 2009 Facility: | ||||||
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| 1As defined in the terms & conditions | ||||||
| Recent Operations ›› | ||||||
