On July 2, the Federal Reserve Bank of New York (FRBNY) published revised terms and conditions and frequently answered questions for the Term Asset-Backed Securities Loan Facility (TALF). The FRBNY also posted a revised copy of the Master Loan and Security Agreement (MLSA) for the TALF program.  

One of the more noteworthy changes is an increase, beginning in August, to the administrative fee rate from 5 basis points to 10 basis points for TALF loans related to non-mortgage asset-backed securities, and clarification that the administrative fee rate will be 20 basis points for TALF loans related to commercial mortgage-backed securities.  

For blacklines of the revised terms and conditions, click here.  

For the revised FAQs, click here.  

For the revised MLSA, click here.