TALF Expanded to Include Legacy CMBS: The "Not-so-Troubled" Asset Relief Program?


On May 19, 2009, the Federal Reserve Board (Federal Reserve) announced updated terms and conditions for the Term Asset-Backed Securities Loan Facility, or TALF, a joint program with the U.S. Treasury Department (Treasury). Beginning in late July, eligible owners and purchasers of qualifying commercial mortgage-backed securities (CMBS) will be able to obtain low-cost financing for their CMBS positions.

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