Investment Management and Private Funds Roundtable: TALF 2020 and PPP Update
The Return of TALF Fund Opportunities Via COVID-19 Relief
Why is TALF a good opportunity? Simply put, based on TALF 1.0 (the initial version of the program in effect during 2009–2010), we expect there to be in excess of 100 new TALF funds established as part of TALF 2.0 in 2020,...more
On May 20, 2020, the Federal Reserve Bank of New York (the “New York Fed”) released the form of Master Loan and Security Agreement (“MLSA”) that will govern loans issued under its Term Asset-Backed Loan Facility (“TALF”) and...more
On July 28, the Federal Reserve announced that many of its emergency lending facilities, including the Main Street Lending Program’s New Loan Facility, Priority Loan Facility, Expanded Loan Facility, Nonprofit Organization...more
The Federal Reserve took additional actions on April 9 to provide up to $2.3 trillion in loans to support the US economy during the coronavirus (COVID-19) pandemic. This LawFlash covers the new and expanded programs, and...more
Diverse talents bring diverse ideas. Read our Structured Finance Spectrum for the latest on what’s happening in the structured finance markets in the U.S. and UK. ...more
In This Issue. The Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert about the scope and content of examinations OCIE plans to conduct of various...more
In This Issue. The Office of the Comptroller of the Currency (OCC) released an advanced notice of proposed rulemaking seeking comments on several issues related to digital technology and innovation, as well as proposed...more
On May 20, 2020, the Federal Reserve Bank of New York (the "New York Fed") released the form of Master Loan and Security Agreement ("MLSA") that will govern loans issued under its Term Asset-Backed Loan Facility ("TALF") and...more
The US Treasury Department and the Federal Reserve Bank of New York (the New York Fed) have announced the complete terms of a new Term Asset-Backed Securities Loan Facility (TALF) program, which is intended to address the...more
On Wednesday, May 20, 2020, the Federal Reserve announced the first loan subscription date for the Term Asset-Backed Securities Loan Facility (“TALF”) and published the Master Loan and Security Agreement (the “MLSA”) and an...more
The Fed releases more specifics and a start date for its Term Asset Backed Loan Facility (TALF) program, but overall the picture which emerges makes it less likely that the program will facilitate the flow of credit to US...more
In response to the economic consequences of the measures being taken to contain the spread of the novel coronavirus (COVID-19), the Board of Governors of the Federal Reserve System (the "Federal Reserve") revived the Term...more
In March 2020, the Federal Reserve (the “Fed”) announced that it would re-establish the Term Asset-Backed Securities Loan Facility (“TALF”) program...more
On May 20, 2020, the Federal Reserve Board of Governors (the “Fed”) and the Federal Reserve Bank of New York (the “FRBNY”) announced the first subscription date of June 17, 2020 for funding under the Term Asset-Backed...more
As revised, TALF may provide a safety net in the event of catastrophic CLO market conditions but is not likely to meet the goal of reviving the corporate loan market Introduction - On May 12, 2020, the Federal Reserve...more
Updated FAQs and documentation provide additional information regarding the TALF program’s operations and dates for the first loans. On May 20, 2020, the Federal Reserve announced the TALF program’s first subscription date...more
On May 12, 2020, the Federal Reserve Bank of New York (the Federal Reserve) announced further updates to the 2020 Term Asset-Backed Securities Loan Facility (TALF 2020), including an updated term sheet and its release of the...more
Pepper Hamilton partner Gregory J. Nowak recently held a virtual Investment Management and Private Funds Roundtable. Mr. Nowak was joined by Genna Garver, partner at Troutman Sanders, to discuss a variety of current topics,...more
The US Treasury Department and Federal Reserve Bank of New York recently released a new set of FAQs and a revised term sheet for the new Term Asset-Backed Securities Loan Facility (TALF) program, which is intended to address...more
On May 12, 2020, the Federal Reserve published an updated Term Sheet and a set of Frequently Asked Questions (“FAQs”) for the Term Asset-Backed Securities Loan Facility ("TALF"). The TALF program, which was first announced on...more
As part of a number of liquidity measures announced in response to the COVID-19 pandemic, the Federal Reserve re-established the Term Asset-Backed Securities Loan Facility (“TALF”) on March 23, 2020....more
Your team at ML Strategies continues to monitor federal and state legislative and regulatory responses to the public health and economic crisis. Each week, ML Strategies will provide updates from Massachusetts and Washington,...more
On April 9, 2020, Federal Reserve Chairman Jerome Powell announced new Federal Reserve programs to “provide as much relief and stability as we can during this period of constrained economic activity, and our actions today...more