On March 3, 2009, the Federal Reserve Board released the final terms and conditions applicable to the initial loan subscription, including loan rates and collateral haircuts, relating to its previously announced Term Asset-Backed Securities Loan Facility (TALF).1 Under the TALF, the Federal Reserve Bank of New York (FRBNY) initially announced that it would make up to $200 billion of non-recourse loans available to eligible borrowers to enable them to purchase certain asset-backed securities (ABS).
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Term Asset-Backed Securities Loan Facility update
- Sidley Austin LLP
- Daniel M. Rossner, Mark J. Kowal, Paul R. Wysocki and R.J. Carlson
- March 5 2009
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