| 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: | February 17, 2010 | |
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| Closing Date: | February 25, 2010 | |
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| 3-Year Maturity Date: | February 25, 2013 | |
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| 5-Year Maturity Date: | February 25, 2015 | |
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| Facility Open: | February 17, 2010 8:00 a.m. ET | |
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| Facility Close: | February 17, 2010 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 February 17, 2010 Facility: |
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