New York Fed Revises TALF Master Loan and Security Agreement
April 21, 2009
The following summarizes the changes made to the MLSA from the April 3, 2009 posting:
Provides that the market reference rate used to set the interest rate applicable to a Fixed Rate Loan shall be a one-year, two-year or three-year reference rate, based on the Weighted Average Life of the Collateral securing such Fixed Rate Loan as of the Applicable Loan Closing Date (except with respect to Fixed Rate Loan secured by SBA Collateral, as to which the market reference rate shall be a three-year reference rate).
Includes two additional fields in the form of Loan Request (Weighted Average Life and Loan Rate Benchmark).