| 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: | March 19, 2010 | |
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| Closing Date: | March 29, 2010 | |
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| 3-Year Maturity Date: | March 29, 2013 | |
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| 5-Year Maturity Date: | March 30, 2015 | |
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| Facility Open: | March 19, 2010 8:00 a.m. ET | |
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| Facility Close: | March 19, 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 March 19, 2010 Facility: |
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