New York Fed Revises TALF Master Loan and Security Agreement
March 27, 2009
The following summarizes the three changes made to the MLSA from the March
Revises the time at which the Fed Funds Target Rate is set from 8:00 a.m. on
the applicable Loan Subscription Date to 12:00 noon on the applicable loan
Deletes the unused definition of Ratings Eligibility Criteria.
Revises the deadline for submission of Loan Requests (the follow-up requests
by Primary Dealers to Custodian) from 1:00 p.m. on each Loan Subscription
Date to not later than one hour after the time when the subscription period
closes as specified by Lender (such time will be posted to the TALF Website
in advance of such Loan Subscription Date).