Alerts

Federal Reserve Board Announces TALF Eligibility for Legacy CMBS, Revises Terms & Conditions and FAQ Documents

May 22, 2009

On May 19, 2009, the Federal Reserve Board (the “Board”) announced that, starting in July, certain high-quality commercial mortgage-backed securities (“CMBS”) issued before Jan. 1, 2009, (“legacy CMBS”) will become eligible collateral under the Term Asset-Backed Securities Loan Facility (“TALF”). In addition, the Board released revised terms and conditions and frequently-asked-questions documents for the TALF program in general and to specifically cover the TALF’s expansion to legacy CMBS.