On July 7, the Federal Reserve Bank of New York (FRBNY) reported that borrowers requested $5.4 billion in Term Asset-Backed Securities Loan Facility (TALF) loans to finance purchases of asset-backed securities collateralized by auto loans, credit card receivables, servicing advances and small business loans. No loans were requested for equipment, floorplan or premium finance securitizations. The total amount of TALF loans requested is now approximately $33.9 billion.  

Separately, the FRBNY announced that the next TALF loan subscription date, related solely to commercial mortgage-backed securities (CMBS), will be July 16. However, it is unclear whether any TALF-eligible CMBS will be available for purchase from potential issuers by that date.  

Click here to read more about TALF operations.  

Click here to read more about CMBS TALF operations.