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TALF Program Expanded to Include CMBS and Insurance Premium Finance Loans

May 13, 2009
John M. Donovan, David W. Thatch, Ernest (Ernie) T. Patrikis, Glen R. Cuccinello

DOWNLOAD PDF: TALF Program Expanded to Include CMBS and Insurance Premium Finance Loans

The Federal Reserve Bank of New York (the New York Fed) recently made changes to the Term Asset-Backed Securities Loan Facility (TALF) program. It has expanded the list of permissible credit exposures underlying eligible Asset-Backed Securities (ABS) under TALF to include insurance premium finance loans for the June subscription date. On a separate subscription schedule expected to begin in late June, commercial mortgage-backed pass-through securities (CMBS) issued after January 1, 2009 will also become TALF-eligible upon satisfaction of certain criteria. Read here for details on these additions and the conditions applicable to them, as well as other TALF updates provided by the New York Fed.

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