The Federal Reserve Bank of New York announced that on July 16, the first loan subscription date for legacy commercial mortgage-backed securities (CMBS), there were approximately $669 million in loan requests for legacy CMBS under its Term Asset-Backed Securities Loan Facility (TALF). July 16 was also the second loan subscription date for newly issued CMBS, but, as expected, there were no TALF-eligible newly issued CMBS available for purchase, and no newly issued CMBS loan requests were made.  

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